Conducting Whole-System, Data-Driven Analysis
To address the uncertainty and volatility that can come with grid investments, 1898 & Co. takes a comprehensive approach to transforming capital planning processes and developing customer-centric, data-driven investment plans that account for a range of possible scenarios. By providing a flexible framework within the planning process, utilities can prepare to meet short- and long-term goals and anticipate future regulatory expectations.
Utilities understand the need to increasingly incorporate forward-looking analyses into decision-making. With whole-system, data-driven analysis, utilities can scope grid investments to meet myriad future needs. This creates a more connected, realistic system model that can identify key trends that stem from supply chain disruptions, workforce availability, regulatory impacts and more. These models can also simulate consequences of asset failure and extreme weather, as well as predict additional impacts of electrification. Such modeling enables utilities to plan for a variety of factors.
Maintaining a Customer-Centric Focus
It’s vital to relate the impacts of grid investments to customers, and to convey an understanding of how the customers might be affected. Using an approach that allows modeling constraints that consider customer affordability and other limits, 1898 & Co. creates a thorough plan that is suitable for multiple stakeholders. Communicating the benefits and reasoning behind why rates might be increasing to accommodate investment decisions can help mitigate concerns.
A holistic, robust plan that can be easily communicated to all stakeholders — including consumers, regulators, shareholders and employees — limits confusion and provides the opportunity to address concerns early. The use of geospatial visualization further illustrates investment impacts and costs, as well as community impact and project coordination.
Incorporating Dynamic Optimization
Maximizing investment benefits while minimizing costs is key during capital planning. 1898 & Co. integrates engineering, procurement and construction experience into the overall approach. This combination incorporates real-world constraints and known data to optimize investments to produce a capital plan that is executable and operational.
Bringing this experience into every project provides the guidance needed to keep forecasts accurate and maintain awareness of all possible variables. Utilities can have greater confidence knowing plans are built on actionable data and guided by industry experience.
As electrification, distributed energy and renewables continue to grow in prominence, taking a holistic approach to grid modernization planning will help utilities overcome current and new challenges. Looking to the future, data-driven investment planning will continue to inform the strategic decisions of today that will form the foundation for a forward-thinking tomorrow.
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