Utilities are evolving rapidly. Traditionally, energy was produced centrally and delivered to users. Now, renewable sources are leading to a more decentralised system.
This new setup includes various producers and users, with utilities balancing huge demands from devices like EVs, heat pumps, and solar panels. Meanwhile, water management is also changing. The UK faces potential water shortages in the coming decades, making efficiency and reduced consumption crucial.
The Shift in Utilities
Utilities are undergoing a significant transformation. Historically, energy was generated centrally and distributed to consumers. Now, a decentralised system reliant on renewable sources is emerging.
This shift involves numerous producers and consumers, with utilities managing the demands of millions of devices such as EVs, heat pumps, and solar panels. Water management is also seeing changes. The UK faces potential water shortages in the next 30 years, necessitating improved efficiency and reduced consumption.
Challenges with Legacy Systems
Addressing these issues requires advanced software and infrastructure improvements. Legacy systems, often decades old, struggle to meet current demands. CEO Deepak Ravindran identifies three main challenges legacy technologies face: processing vast amounts of data, enabling fast innovation, and managing cyber risks.
Ravindran explains that upgrading software capabilities is tough for many utilities as they are some of the oldest companies. They have technology that was deployed 30 years ago, which is now outdated and inefficient.
Introduction of Kraken
Kraken, an AI-enabled operating system, is revolutionising utilities. Initially developed for Octopus Energy, Kraken has become an international technology business.
Kraken offers three key applications: Kraken Customer, Kraken Asset, and Kraken Field. Each of these caters to different utility needs.
Kraken Customer focuses on all aspects of customer technology. It consolidates information about customers, their bills, and devices like EVs and solar panels into a single system. This enables quick, efficient service and enhances customer satisfaction.
Elevating Customer Experience
Typically, utility providers use legacy systems requiring agents to navigate multiple screens to serve a single customer. This leads to slow and poor customer experiences.
Using Kraken, agents have all customer information in one place. This allows for quicker and more efficient service. As a result, customer satisfaction and operational efficiency are significantly improved.
Kraken serves 54 million accounts across 17 markets, including the UK, Australia, and Japan. It has also moved into the water and telecommunications industries, indicating its versatile capabilities.
Optimising Energy Resources
Kraken Asset, also known as KrakenFlex, provides AI-powered optimisation for energy resources. It manages any size or type of resource, offering real-time monitoring and data analysis.
Currently, Kraken oversees over 230,000 distributed energy resources (DERs) and 42.35 GW of contracted power. The platform supports demand-response programs, rewarding customers for reducing power usage during peak times.
For instance, Octopus signed up 1.4 million customers to reduce power usage during peak times. This initiative saved the UK grid from burning $200 million worth of coal and diesel, compensating customers with $10 million.
Supporting Field Operations
Kraken Field aids in the maintenance and management of energy assets. Thousands of engineers use it to install and manage heat pumps, solar panels, batteries, and EVs.
This tool is crucial for streamlining field operations, making the installation and maintenance processes more efficient and consistent.
Soon, Kraken Field will be licensed to other parties, expanding its utility and impact.
Kraken’s Founders and Vision
Founded by British entrepreneurs Greg Jackson and James Eddison, Kraken is making waves in the UK’s utility sector. Their goal is to expand globally and promote a greener utilities sector.
Kraken combines a strong ethical foundation with cutting-edge technology, setting a bold vision for the future of utilities.
Their mission is not just about growth. It’s about making a positive global impact by transforming how utilities are managed.
Global Expansion and Impact
Kraken’s global expansion is more than just business growth. It’s about making a positive impact on a global scale.
The company aims to lead the global transformation of the utility sector, setting new standards in efficiency and sustainability.
Combining technology and ethics, Kraken is poised to become a global leader, changing the way we interact with utilities.
In conclusion, Kraken stands at the forefront of revolutionising the utilities sector. With AI-driven systems, it addresses critical challenges posed by legacy technologies, enhancing efficiency and sustainability.
As Kraken continues to expand globally, its impact on energy and water management remains profound. By combining cutting-edge technology with ethical practices, it sets a new standard for the future of utilities.