Hong Kong electric utility CLP joins the data arms race in an effort to prepare for the ‘future of energy’
- Hong Kong electric utility says it is preparing for disruption in the energy sector by investing in a range of smart technologies
- CLP’s senior director, innovation and venture, Austin Bryan, explains why the 118-year-old company has added a team of data scientists
CLP Holdings, one of two major electricity providers in the city, is working with start-ups at home and abroad to improve its network and help consumers lower their energy footprint and cut carbon emissions through the use of apps and other solutions that leverage data.
Austin Bryan, senior director of innovation and venture at CLP, said the 118-year-old utility was determined to ensure it stayed competitive through early adoption of smart technologies in its global business empire.
“We have built a small team of data scientists to look at the application of digital tools like artificial intelligence, which are strategic pieces of the future of energy fundamental to the way a successful 21st century energy company will operate.”
The investments are underway even as its Hong Kong business is protected by an 8 per cent return on relevant assets under a 15-year agreement with the government that took effect late last year.
Recent areas of cooperation with start-ups include a mobile app that tracks home energy consumption to alert potential health problems with the elderly, a software package that evaluates the impact of solar panel installations on the power distribution system, and an app that allows users to monitor home temperature and humidity and automatically adjust them to save energy.
In addition to Hong Kong, CLP operates in evolving and sometimes unpredictable regulatory environments in overseas markets such as Australia.