Aurora AI: AI and machine-learning solution to prevent electricity theft and generate more revenue
Summary
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Details
Deep dive
Main Features
Loss Detection and Resolution: The Aurora AI platform improves profitability by checking distribution network data for anomalies. It spots irregularities in consumption and payments that show when excessive aggregated technical commercial and collection (ATC&C) losses occur.
Theft Detection: The software protects networks from electricity theft via meter bypass, tampering, illegal connections and other forms of theft.
Data Analytics: The platform operates round the clock and instantly analyses data across multiple periods and cohorts to spot infractions with greater accuracy.
Target Users
Energy utilities: Particularly those managing distribution grids. This platform leverages advanced machine learning technology to help these utilities detect and address electricity theft, such as meter bypass, tampering, and illegal connections.
Microgrid Operators: Companies managing microgrids, especially in remote or off-grid areas, can utilize Aurora AI to ensure efficient energy distribution and reduce losses due to theft or inefficiencies.
Industrial Facilities: Large industrial facilities with their own power distribution networks can leverage Aurora AI to monitor and optimize their internal energy usage, detect anomalies, and prevent losses.
Municipalities and Local Governments: Local authorities responsible for public utilities can use the platform to enhance the management of public energy resources, ensure transparency, and reduce costs associated with energy theft.
Renewable Energy Providers: Companies involved in renewable energy production and distribution can benefit from the real-time monitoring and data analytics capabilities of Aurora AI to optimize their operations and ensure maximum efficiency and revenue capture.
Energy Consultants: Consulting firms specializing in energy management and efficiency can use Aurora AI to provide detailed analysis and recommendations to their clients, helping them improve their energy systems.
Pricing
Specific price information about Aurora AI is not disclosed by Steamaco on their website or elsewhere in the public domain. For accurate pricing information, prospective users might wish to contact the company directly. Steamaco may provide custom quotes based on the specific needs and requirements of individual companies. This allows them to tailor the pricing to fit the scale and scope of each client's operations effectively.
Market Outlook
The market for software solutions for preventing energy theft is expanding, driven by the increasing adoption of smart grids and advanced metering infrastructure (AMI). Utilities lose $96 billion annually due to various forms of energy theft. This substantial financial loss has led to the development and deployment of sophisticated detection technologies, including AI and machine learning-based systems. In addition to Steamaco's Aurora AI, other software solutions are available from energy companies such as Siemens, IBM, Genus, Buenoptic, and Bidgely.
As countries roll out plans for the modernization of their power grids and as smart grids consequently become more prevalent, the demand for robust energy theft detection software is expected to rise significantly. In 2022, the European Commission released the action plan "Digitalization of the Energy System” with $184 billion expected to be channeled toward digitalization of the region's power grid in the coming years. The US revealed its Grid Resilience Innovative Partnership (GRIP) Programme also in 2022, with $10.5 billion in funding to support the modernization of the country’s electric grids. Moreover, several countries across Asia have also floated national programs to expand smart grid technology. China intends to spend $442 billion on the modernization of its electric grids over 2021-2025. In 2022, Japan and India announced financing programmes of $155 billion and $38 billion respectively for investment in smart grid technologies.
Overall, there are strong signs that the market for energy theft prevention software is set to expand.
