Aboitiz Power Corporation (AboitizPower) has once again tapped the power of data science and artificial intelligence (DSAI) in the use of its new energy trading platform for its power plants.
The platform, particularly used by the company’s Commercial Operations Business Unit (COBU), employs advanced analytics and trading optimization technologies to support its trading operations, further enhancing data analysis and efficiency.
Such system supports the Philippine electricity market’s demand for fast exchanges of plant-related information and helps ensure that AboitizPower’s generation facilities trade power with the highest levels of accuracy, comply with stringent market rules, and optimize margins based on data-driven trading strategies.
The company also utilizes data science to collect vast amount of data to analyze the energy consumption behaviors of various industries and other useful energy-related information. Among the information collected are customers’ energy profile and pain points, how they can practice energy efficiency, saving on costs by avoiding potential failure points in their electrical equipment
Together with the DSAI team of sister firm Unionbank, AboitizPower will use insights based on the gathered data to design tailor-fit energy products and solutions that best meet the needs of business customers, helping them remain competitive in their respective industries.
“In Commercial Operations, we encourage an innovative mindset within the group in order to come up with unique ideas to give what our customers need even before they ask,” AboitizPower Head of Commercial Operations Sandro Aboitiz said in a statement.
“The purpose of such data science endeavors is customer centricity. Improved forecasting enables [AboitizPower] COBU to deliver consistent customer service while optimizing operational efficiency,” said Unionbank Senior Advisor for DSAI Dr. David Hardoon, who also sits as Chairman of the Aboitiz Group’s Data Committee.
By improving forecasting accuracy and data processing speed, smart tools are crucial in operational decision-making that impacts both AboitizPower and its customers. Critical data points, such as demand and short-term forecasts, help the company and its customers anticipate and minimize risks brought by unexpected economic scenarios, such as the COVID-19 pandemic.