Stonehaven Technology Exhibits at Utility Week Live 2016
As part of the Energy Innovation Centre’s ‘Innovation Zone,’ Stonehaven Technology exhibited their innovative enterprise software application for asset management for utility companies.
Stonehaven Technology at the 2016 Utility Show
The application enables Utility Companies to understand the Regulatory Value at Risk for individual assets, through a sophisticated algorithm and then provides the digitised business processes for managing delivery of investment in the assets. The application also has functionality to identify enduring and dynamic risk of flooding and extreme weather, with critical information automatically disseminated across users.
Physical interference with the assets of utility companies costs millions of pounds, through stolen infrastructure, abstracted electricity, gas and water and damages to the network. In 2015, the Energy Networks Association put the headline cost of metal theft across its electricity distribution members as £3 million. In 2013, Ofgem identified the cost of abstractions to each law abiding household as being at least £7. Stonehaven Technology’s enterprise application integrates numerous internal and external sources of data and runs an algorithm on a daily basis to produce a risk score for each individual asset. With a mature understanding of physical risk of individual locations, Utility Companies can then plan, manage and deliver asset enhancements to reduce the risk.
The services provided by Utility Companies form part of key national infrastructure. The widely dispersed geographical locations of utility assets mean that there are naturally occurring risks of flooding by rivers and seas, surface water and ground water. Stonehaven Technology’s enterprise application enable the enduring risk for any individual asset to be identified and critical information for the dynamic risk to an asset to be presented to users for critical decisions to be made.