In order to meet the challenges and opportunities of transitioning to the RIIO regulatory framework and a low carbon energy future, transmission and distribution network operators need to adapt and innovate.
Acting alone cannot bring about the transformational changes the sector requires. With new models and events disrupting the established status quo, the power of innovation lies in the power of synergy.
At the EIC, we believe that if you want to be incrementally better, you compete. If you want to be exponentially better, then you collaborate.
This ethos drives our business model and creates value for our industry partners by shaping opportunities that enable them to:
When companies from the same sector collaborate, the mutual benefits can be more powerful than any benefits that competition might produce. Risk, cost, distribution channels, co-marketing and collaborative innovation can all be shared, avoiding duplication of effort and resources, and identifying areas of opportunity.
The EIC has developed a proven model for collaborative innovation in operational business performance. We are now evolving this to include strategic innovation collaboration which will set us apart from other sectors and deliver the transformational changes that the sector requires.
Current areas of strategic collaborative opportunity that we are exploring with this model are:
The Energy Loop is a collaborative project between SP Energy Networks, Northern Gas Networks, National Grid, SGN, Scottish and Southern Energy, Wales & West Utilities. To date, it is the largest cross-utility collaboration ever funded by a Network Innovation Allowance.
The project will create a trusted digital platform accessible to all UK customers that can help them to simplify the journey to better energy by:
Find out more at www.theenergyloop.co.uk
Digital Platform – the EIC is developing a digital platform which will link the needs of the industry with innovators who have the capabilities to address those needs. The vision for the digital platform is that it will: