ANDOVER, Mass., Aug. 24, 2017 /PRNewswire/ -- Each year,
weather-related power outages cost the U.S. economy as much as
$33 billion a year.1
Additionally, one severe weather event has the potential to impact
the daily lives and routines of millions of people. As 2017 marks the fifth anniversary of Superstorm
Sandy, The Weather Company, an IBM Business (NYSE: IBM) and
Zpryme are releasing the results of a survey that found that U.S.
utility companies still feel underprepared for weather-related
outages and that their reactive approach to outage prediction leads
to lost time and resources.
The Challenges of Being Reactive to Adverse Weather and
Outage Prediction
According to a survey of 150 energy providers across the U.S., 93%
report the impact of severe weather on their operational decisions
has stayed the same or grown over the past three to five
years. However, due to a lack of solutions in market and the
lack of resources to manage and build their own; utilities say they
have struggled to add a prediction model to their storm preparation
toolbox. As a result, many utilities are forced to be reactive
rather than proactive in their storm preparation activities.
Many utilities surveyed (65%) still rely heavily on generic
weather forecasting services, which usually are not tailored to
their specific weather impact thresholds. This means that advance
knowledge of how the weather specifically will affect the utility
infrastructure and how many outages will result is not known with
much confidence in advance. This hinders preparation efforts that
could help utility crews restore customers faster and more
efficiently after a storm hits. 81% of the survey respondents say
managing an adverse weather response and restoring outages is a top
operational cost. Utilities can spend millions of dollars per
year2 replacing and repairing damaged assets (71%), as
well as mobilizing crews (56%).
"Through this research, we found it is critical for utilities to
determine the level of impact that weather can have on their system
and take the appropriate actions in advance of both major storms
and everyday changes in weather patterns," said H. Christine Richards, vice president of
research, Zpryme. "To do this, utilities need to better invest in
the right predictive analytical tools that will provide operational
and financial benefits for their organizations."
Utilities Need Advanced Analytics and Machine-Learning
Solutions
Most utilities agree: According to the survey, 57% feel that they
need to improve their data analytics and develop predictive
solutions. Most respondents believe that data-driven outage
prediction tools will reduce outage duration (70%) and improve
customer satisfaction (61%). Additionally, they believe that
predictive tools would improve emergency management and
preparedness (34%) and help them better pre-position crews
(30%).
The Weather Company recently introduced a new outage prediction
solution that uses a machine-learning model to combine historical
weather data and the most up-to-date, hyperlocal weather forecasts
with past outage and/or infrastructure damage information from a
utility's service area. By combining this information, the utility
can see within 72 hours of a predicted storm what areas are
predicted to be hit the hardest. This is critical in deciding how a
utility will mobilize their storm response and where and when to
pre-stage restoration crews and equipment if required.
"Using more cognitive, cloud-based solutions – such as outage
prediction models – utilities have the opportunity to take a
proactive stance against impactful weather," said Maia Sisk, director of offerings, location and
new markets for The Weather Company. "These machine-learning
predictive models enable a utility's operations team to confidently
make critical decisions ahead of an anticipated weather event -
helping them to control costs and improve restoration times."
For more results from this survey, read Zpryme's white paper
Utility Outage Prediction: Embracing Advanced Analytics and Machine
Learning Solutions. Media are also invited to register for the
Zpryme Media Webcast on August 29,
2017, at 11:00 a.m. ET. To
learn more about the Outage Prediction from The Weather Company,
visit https://business.weather.com/products/outage-prediction.
The Weather Company, an IBM Business
The Weather Company helps people make informed decisions and take
action in the face of weather. The company offers the most accurate
forecasts globally with personalized and actionable weather data
and insights to millions of consumers, as well as thousands of
marketers and businesses via Weather's API, its business solutions
division (business.weather.com), and its own digital products from
The Weather Channel (weather.com) and Weather Underground
(wunderground.com).
The company delivers around 25 billion forecasts daily. Its
products include the world's most downloaded weather app, a network
of 250,000 personal weather stations, a top-20 U.S. website, one of
the world's largest IoT data platforms, and industry-leading
business solutions. Weather Means Business™. The world's biggest
brands in aviation, energy, insurance, media and government rely on
The Weather Company for data, technology platforms and services to
help improve decision-making and respond to weather's impact on
business. For more, visit theweathercompany.com.
Zpryme
Residing in Austin, Texas, Zpryme
is a research, media, and events agency with a focus on energy.
Based on the creative direction of our associates Zpryme, produces
influential research, the Energy Thought Summit (ETS), and premium
branding experiences that challenge the status quo. Combined, ETS
and Zpryme represent digital and physical solutions that share
stories of real people and engage ideas and products influencing
the grand energy transition. For more, visit zpryme.com.
1
https://energy.gov/sites/prod/files/2013/08/f2/Grid%20Resiliency%20Report_FINAL.pdf
2 After the Disaster – Utility Restoration Cost
Recovery, Bradley Johnson – ACN Energy Ventures for Edison Electric
Institute
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SOURCE The Weather Company, an IBM Business