NEWTON, MA, MARCH 27, 2019 -- BRIDGE Energy Group (BRIDGE) today announced new insights from the company's 2019 BRIDGE Index™ Utility Industry survey. Titled, "An Industry in Transformation – The Technology", this latest report focuses on the impacts of technology on the industry and how it's shaping the utility's future. The report highlights the increasingly rapid deployment of grid analytics, automation, modeling, and forecasting technologies in a bid to quickly modernize distribution services. The survey revealed that 63% of responders acknowledged that Advanced Distribution Management System (ADMS) initiatives are in progress and 94% agree that integration of systems and information is critical for the grid's future operations.
Celebrating its 8th year, the BRIDGE Index™ survey provides objective, research-driven insights into current and future priorities across a broad cross-section of North American utility decision-makers. Focusing on people, technology and overall business, these surveys chronicle an industry at a crossroads, as it embraces new data-driven technologies and contends with institutional knowledge transfer challenges as retiring personnel train the next generation.
Underscoring the acceleration and shift to transformative data-driven processes, the 2019 BRIDGE Index Utility Industry survey also found that:
· 93% expect the availability of tools to analyze and process data within their company, to increase in the coming year.
· 75% have load modeling and forecasting as their leading technology projects planned.
· 70% experienced acceleration in the pace of technology changes over the past 2 years.
However, the survey throws a cautionary flag on the elevated modernization push and associated risks, noting that successful integration of new data and systems is viewed as the top impediment to Operational Technology (OT) and analytics projects: 97% expect their grid modernization projects to increase the amount of data collected in the coming year, while 43% say it will increase significantly.
The accelerating technology changes and utilities' aggressive and diverse project plans are likely contributing to the growth in their embrace of outsourcing, as 50% are now or will consider outsourcing OT operations and support in the future.
"We continue to see cautious interest in all forms of outsourcing, including cloud-based solutions and managed services, as utilities look for ways to improve operations, expand capabilities, and reduce costs," said Hugo van Nispen, CEO, BRIDGE Energy Group.
To view full survey results or to learn more, visit www.bridgeenergygroup.com.