Innovating the Grid Transformation
Joseph Somma, General Manager of Electric Operations at Consolidated Edison and Russell Hinton, Director of Envision Tomorrow at Dominion Energy, are Co-Chairs of AEIC’s Cost Optimization Subcommittee.
Electric utilities in the U.S. are continuously focused on improving efficiencies in operations, maintenance, and capital projects, while simultaneously maintaining safety, reliability, and meeting customer expectations. It is an integral part of everyday business and essential to industrywide efforts to achieve grid transformation.
The mission of AEIC's Power Delivery Cost Optimization Subcommittee is to bring utilities together to collaborate, share, and benchmark these efforts to reduce cost and maximize business value.
The Subcommittee holds regular quarterly meetings that address a wide range of topics, including using technology to improve business practices, data visualization and analytics projects, asset management and condition-based maintenance, and increasing operational efficiency.
At a recent meeting, subcommittee participants presented several cost optimization initiatives developed by AEIC member companies that are delivering measurable business results and provide meaningful benefits to both employees and customers.
As an example of the types of projects the subcommittee explores, Consolidated Edison has developed an auto-scheduler application that integrates key data into a single platform by leveraging technology and the knowledge of seasoned employees to develop business logic for planning and decision making.