Active Efficiency seeks to optimizes energy use with the opportunities presented by digital technologies. In the 1970s, power utilities were digital pioneers, using emerging technologies to facilitate grid management and operation. Rishyamook Building, First Floor85 A, Panchkuian RoadNew Delhi - 110001, INDIA, Tel. Image Credit: Edi Katona/Shutterstock.com. New BloombergNEF research shows that the power sector will spend $3.2 billion on software in 2020 to optimize the performance, costs and revenues of generation and grid assets. Does November's Modest Slowdown in U.S. Manufacturing Signal a Cold-season Decline? And digitalization, which involves the convergence and adoption of machine learning, big data, cloud technology, blockchain, artificial intelligence, and other new technologies, is quickly becoming a mainstream movement. Digitalization will also play a major role in the renewable energy sector going forward. The Digital Solutions & Cybersecurity track, for example, will feature experts discussing the technologies behind this digital revolution and the ongoing efforts to protect the world’s power plants from the growing risk of cyberattacks. The energy sector began integrating digital technologies in the 1970s and rightly so, because of its high resource levels, costs of failure and outages. Consumers will not only see the benefits of digitalization through lower monthly utility bills but also reduced outages and faster response times. Digital transformation is something that has become a common trend, and it is one that has reached the Power & Utilities sector moving rather quickly. * Corresponding author. 3rd Digitalization of Energy Sector 2019 welcomes the decision-makers and experts of digital, innovation, strategy, technology & IT departments from leading Energy companies (Oil & Gas and Power & Utilities) in an exclusive close-group and business-friendly environment for peer-to-peer networking, knowledge-sharing and learning opportunities. Thomasnet Is A Registered Trademark Of Thomas Publishing Digitization in the power generation sector continues to expand. The session will focus on workforce needs and … With decentralization, de-carbonisation and deregulation, the entire business model of utilities is evolving rapidly and state-of-art technologies are making those changes possible that were beyond the imagination a few years back. Renewables, distributed generation, and smart grids demand new capabilities and are triggering new business models and regulatory frameworks. This can be achieved by reducing operation and maintenance costs, improving power plant and network efficiency, reducing unplanned outages and downtime, and extending the operational lifetime of assets. The digital transformation is unique to each organization based on their individual requirements and business objectives. “New requirements are being created because of the increased amount of intermittent wind and solar capacity being added to the grid,” Villali said, “which requires traditional fossil fuel generation to have quicker ramp-up and ramp-down times as well as additional spinning reserves. The integration of transport into the power sector also poses new security challenges, he says. First, energy and security have been at the core of the EU’s legal and policy measures from the beginning of European integration. : +91 11 2336 3013 / 14Email: firstname.lastname@example.org, 501, Kakad Chambers, 132Dr. “You could have the smartest technology in the world,” she explained, “but unless customers are engaging with [that technology] and reducing their energy use and playing a proactive role in the energy transformation, then really we don’t have a sustainable value. The panelists will present trends in cyber-attacks to global power sector stakeholders and discuss the latest innovative tools and technologies. Recognized industry leaders will present their thoughts and provide actionable takeaways on digitally transforming a power generation business into a 21st-century trailblazer. The energy sector is used to thinking in terms of decades and the energy world is a slow-moving entity. 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