Real-Time Energy Management

Overview:

WHAT'S INSIDE:
1. Background
2. IOM Real-Time Energy Management
3. Real-Time Energy Management as Part of an Enterprise approach
4. Conclusion

Over the last several years energy costs have more than doubled! In the process manufacturing industries, with energy costs often comprising as much as 80% of the overall variable cost of operating a plant, this has created a crisis. Many manufacturers have responded to this crisis with programs aimed at reducing the overall energy consumption of an operation or looking to alternate, lower cost fuels. Although these initiatives may provide a good starting point in the battle to reduce energy costs, they are not adequate to meet the needs of today's real time business environment.

Historically, the price of energy could often be dealt with as a constant over a prolonged time period. Large energy users could develop contracts with energy suppliers for 6 months or even a year that would effectively set the price of energy over that time period. Today long-term energy contracts are the exception. In most parts of the world the price of energy changes in real time.

It is essential that industrial companies manage their business in the time frame at which the business variables change. Otherwise the business is completely out of control. When it comes to managing industrial energy, the time frame is real time and real time energy management is required.

This content is available to logged in users.

Author: Invensy, Peter G. Martin  | File Type: PDF

Find more white papers on Optimization

View all white papers»