Maingate CEO, Baard Eilertsen, will open this year's Next Generation Utilities Summit with a call to action to European utility companies facing a climate of unprecedented transformation.
Chairing a keynote panel on the first day of the summit, Baard will speak about a once in a generation opportunity to radically alter the energy market, and how it is possible to drive down energy consumption at the same time as increasing profit for utilities.
"Everything is stacked against the current model: increasing costs, declining margins, and encouragement to switch suppliers. At the same time there is more pressure on utilities due to carbon emissions targets and the gap between shutting down outdated assets and getting new generation on stream".
"This is not about being sensationalist. From every angle there is a real and present threat to the status quo in the energy market. Equally, there is a real and present chance to evolve, innovate and capitalise on the opportunity", explains Baard.
Baard will also be presenting findings from recent projects with major European utilities including E.ON Sverige and Norway's NTE, which successfully demonstrated that the aggregation and analysis of usage data, when coupled with the right visualisation tools, can offer utilities a means of considerably reducing demand as well as creating potential new revenue streams.
51% of participants in these trials indicated that they would be willing to pay for a similar home energy management service from their energy service provider. The trials have also demonstrated that a reduction in churn in the region of 10-20% is possible due to increased customer satisfaction and loyalty.
Building on 15 years of information and communication technology experience, Maingate provides Internet of Things capabilities for a smart energy ecosystem by combining M2M connectivity with cloud-based data management.
The company's open standard platform is able to integrate the complex range of stakeholders, technologies and services that are emerging in this sector, enabling both decentralised and demand side solutions.
The Next Generation Utilities Summit 2014 brings together decision makers and senior executives from across the European utilities industry to collaborate, share and explore solutions. This year's summit takes place in Berlin from 20 to 22 May 2014.
Notes to editors
More information about the Next Generation Utilities Summit can be found at www.ngueurope.com
Founded in 1998, Maingate is an ICT company, providing M2M Connectivity Services and Information Management Services to customers around Europe. We are a trusted partner to more than 1000 customers, including leading utilities such as E.ON, Fortum and Vattenfall. We work closely with leading technology partners such as Gemalto, Oberthur, Schneider Electric, Kamstrup, Telia, Tele2 and Deutsche Telekom. Today we connect more than 55% of all smart meters in Sweden, 20% of all smart meters in Finland, 70% of the Point-of-Sales terminals in Sweden and 40% of all residential alarms in Sweden. Maingate is a company in the Nordic VC Verdane Capital fund VI. www.maingatesolutions.com