State-run electric utility Korea Electric Power Corp (KEPCO) is launching two pilot projects on ways to use big data to improve demand management and risk forecasting, according to a local media source.
The first pilot will see KEPCO set up an energy consulting business based on advanced metering infrastructure (AMI) data while the second will establish a risk forecasting system analysing social networking service data.
AMI big data
The objective of the energy consulting project is to help customers save electricity by providing comparable data on energy usage for similar business types based on AMI data, while allowing KEPCO to manage demand and reduce brownouts.
The forecasting system aims to analyse a variety of business risks including blackouts, customer complaints and climate change by merging information from social network service data, internet data and complaints.
With this system, KEPCO expects that it would be able to reduce blackouts and minimise damages by responding quickly to problems.
Lee Hoi-chang, head of ICT planning at KEPCO, said: I hope our big data projects could make meaningful contributions to creating new business models.
Once the projects are up and running, we will join with other government-owned enterprises and private-sector participants to create wider service models.
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