AI is transforming demand-side management
Interchange Recharged
Wood Mackenzie
4.8 • 535 Ratings
🗓️ 3 January 2024
⏱️ 32 minutes
🧾️ Download transcript
Summary
The impact of Artificial Intelligence in energy management.
We're at a crossroads in the world of energy. The landscape is shifting with the increasing role of renewables, growing demand and the need for resilience against extreme weather. How do we manage power effectively to keep the grid stable and efficient? Using AI to manage demand is one possibility. The role of artificial intelligence in energy management is an exciting development. It's set to transform how we predict, price, trade and use power, all while boosting efficiency and reliability.
Managing the grid is like solving a complex puzzle in real-time. The old grid, built for predictable loads, now grapples with erratic consumption and the fickleness of renewables like solar and wind. AI steps in here, using data and machine learning to improve efficiency and strengthen the grid. AI outperforms traditional models in forecasting. While these conventional models are valuable, they often miss the finer details which can lead to forecast errors. AI, on the other hand, adapts rapidly to real-time changes, enhancing the predictability of supply and demand at a detailed level.
For the first Interchange episode of the year, we welcome David Miller from Gridmatic to discuss the ever-evolving use of AI in grid management.
Together they explore how AI is transforming strategic forecasting, risk management and optimisation in energy infrastructure. What are the current challenges for the grid and how could AI help? What investment is required in infrastructure to optimise the grid? And what are the regulatory measures in place that are helping and hindering the rollout of smart grids?
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Transcript
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| 0:00.0 | Wood McKenzie's Solar Energy and Storage Summit is back in Denver on the 29th and 30th of April, |
| 0:06.2 | 2026. It's co-located with the brand new North American Power and Renewables Forum, |
| 0:11.9 | which features senior speakers from across the U.S. power sector. Come and join over 450 senior |
| 0:18.2 | leaders from U.S. power developers, utilities, and independent power producers |
| 0:23.3 | to tackle the industry's biggest challenges. From navigating life after tax credits to capturing |
| 0:29.7 | the load growth boom, discover how the energy mix is evolving and how the U.S. is going to meet |
| 0:34.9 | that power demand. Seats are limited, so register now at woodmack.com. |
| 0:40.5 | This is the interchange recharge. |
| 0:43.5 | A Wood McKenzie production. |
| 0:45.5 | I'm David Banmiller. |
| 0:48.1 | Aging grid infrastructure is struggling to cope under the strain of extreme weather. |
| 0:53.0 | It's something we've looked at a lot on the show. |
| 0:55.1 | As we diversify our energy mix, we're needing new ways of managing the power. |
| 0:59.7 | We were joined on the show by Josh Chappell, head of engineering at Mesa, an initiative |
| 1:03.9 | from Google's sidewalk labs. |
| 1:06.1 | Mesa uses data and AI to drive efficiencies across the grid. |
| 1:10.1 | Today we're plugging the interchange back into the |
| 1:12.3 | grid and again looking at the use cases for AI in modern energy infrastructure. Using automation |
| 1:18.4 | to better predict energy use and manage it is key to building resilience. David Miller is VP of |
| 1:24.7 | business development at Gridmatic, an AI-powered energy provider. |
| 1:28.8 | How can AI forecast energy usage, pricing, and trading? Let's find out. |
| 1:35.7 | David, welcome the show. |
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