energy sector

New BIR Ruling

The New BIR Ruling; What’s in it for WESM participants?

The New BIR Ruling; What’s in it for WESM participants? 800 507 Exist Software Labs

Wholesale Electricity Spot Market(WESM), managed and governed by Independent Market Operator (IEMOP) is an electricity market established by the Department of Energy (DOE) under the Republic Act (RA) No. 9136, otherwise known as the “Electric Power Industry Reform Act of 2001”, or EPIRA Law.

WESM aims to create a competitive, efficient, transparent, and dependable electricity market, which is a place where offers, demand, price bids, quantities, and other energy transactions take place.

According to the EPIRA Law, The cost of administering and operating the wholesale spot market shall be recovered by the market operator through a charge imposed to all market members: Provided, that such charge shall be filed with and approved by the ERC.”

The law requires the Market Operator (MO), in this case, IEMOP, to recoup its costs for administering and managing the market, based on the fact that the MO has no other source of funding to function other than the charges imposed on its members. In accordance with EPIRA Law and WESM Rules, the EIMOP, as the MO, may charge its members market costs such as Registration Fees, Metering Fees, Billing and Settlement Fees, Administration Fees, Costs reasonably incurred by the Board and Committees, and other working groups, and Other Service Fees.

Upgrade your system in accordance with the NEW BIR RULING Today!

According to BIR RULING OT-323-2021, Page 11 No.5, “The Customer/Buyer shall be the withholding tax agent for energy sold and paid through the WESM, while both the Customer/Buyer and Generator/Seller Shall be the withholding tax agents for the Market Fees collected by IEMOP.” 

With that said, all the WESM participants – Generation companies, Distributors, Renewable Energy (RE) Developers, customers, system operators, network service providers, ancillary services providers, and metering services are now subject to BIR tax withheld from any transactions made within the WESM.

So, why shouldn’t you worry about the new BIR Ruling?

It’s the power of technology! These processes can all be automated. Knowing its importance to your day-to-day activities, let us worry about how we can support you.  

We will assist you in upgrading your system to comply with the New BIR ruling. Adjust your system and automate complex computations and other procedures needed in compliance with the regulation!

Exist Software Labs has extensive experience as an IEMOP and PEMC technology partner for 3 years, and we guarantee we have your back in revolutionizing your system with our Power System Solutions!

Empower your system today!

Learn how to fully automate your processes to create a more competitive, transparent, and efficient system with our Power System Solutions!
Take your power system to the next level!

Internet of Things

How the Internet of Things is Reinventing the Energy Industry

How the Internet of Things is Reinventing the Energy Industry 650 486 Exist Software Labs

Internet of Things (IoT) has given so much convenience to human activities and transactions over the years that it has become one of the most important technologies on a global scale. It helped not just individuals on its day-to-day activities; but also various business verticals on its company-wide operations.

The energy industry in the Philippines is no exception. The Internet of Things (IoT) provides a wide range of applications that can be utilized in the energy sector; this includes energy production, transmission, distribution, consumption, and many more.

See figure 1.1 (This is the evolution of the Internet of Things (IoT) over the years.)Power System Solutions

In previous years, most of us, consumers, never really considered mother earth when consuming energy; This is one of the improvements that IoT may bring forth! Organizations can drastically cut waste thanks to increased control over energy consumption. It brings significant cost savings and allows for a reduction in CO2 emissions, which benefits the environment.

Another challenge that the Energy Sector has is the lack of integrated energy planning and demand forecasting. This significantly widens the gap between energy supply and demand; However, with the help of IoT’s advanced analytical systems, organizations can now develop precise and real-time forecasts. Here are some Internet of Things (IoT) capabilities that will reinvent the Philippine energy industry.

See figure 1.2 (Here is the entire IoT ecosystem of the Energy Sector. From generators, transmission, distributors to the consumers.)

Power System Solutions1. Intelligent Grid

IoT enables grid systems to gain control over power flow or significantly curb energy use and helps in tracking real-time energy consumption that gives users almost complete control over their energy consumption. Its automated approach also helps consumers become more cost-efficient while decreasing energy waste.

While Energy companies, on the other hand, may achieve real-time monitoring, rapid data restoration, and highly accurate usage forecasts, making energy system management and maintenance much easier.

Empower your system with IoT today!

2. Monitoring of Processes and Resource Optimization

Automation is one of the benefits that IoT can provide; having an IoT system means less human intervention, and less human intervention means fewer errors. The use of sensor devices in a power plant allows for the automated execution of processes and the delivery of better, error-free production. The availability of data on all areas of the supply chain enables the operating system to make accurate judgments on a wide range of factors.

IoT solutions generate real-time data, allowing management to act quickly and take appropriate action if there are errors or inconsistencies, allowing businesses to produce higher-quality services.

3. Analytical Advances

With increased energy consumption demand, energy businesses must rely on advanced analytics more than ever to meet customers’ expectations for more options, better transparency, and lower energy prices and waste. In order to compete, utilities and power generators must utilize the same analytics to precisely anticipate future power usage.
The sensor-enabled technology assists the Philippines’ energy sector in gathering more precise data that can be used in proper forecasting of energy supply and demand. As a way, it lowers unnecessary energy usage.

4. Reduction of maintenance and operating costs

Predictive maintenance is another significant advantage of IoT data. Proactive testing and repair significantly reduce the amount of time the machines are inactive, hence minimizing catastrophic equipment failures and lowering maintenance expenses. It enables managers to take complete control of energy data from the beginning and considerably optimize the operation. The use of an IoT-powered solution in the energy sector employs sensor-based approaches to automate the industry’s operation.

Intelligent sensors and devices, for example, can communicate information from distant equipment to detect an impending fault, minimizing damages and stoppages and giving the system much more flexibility.

5. Increase the Production of Renewable Energy

A smart, dependable, and efficient power supply contributes to the smooth operation of smart cities. The application of IoT in renewable energy generation will assist them in producing enough energy to meet their needs.

Sensors attached to generation, transmission, and distribution equipment are used in IoT applications in renewable energy production. These technologies let businesses remotely monitor and control the operation of their equipment in real-time; This reduces operational expenses and energy waste, but more importantly, it helps us minimize our reliance on fossil fuels.

Exist Software Labs will continue to assist businesses in the energy sector

You may now achieve the above-mentioned processes and technologies with Exist Software labs! For over 20 years, we helped several energy enterprises by implementing multiple Energy Automation solutions.

Achieve advanced analytics without breaking the bank, optimize your operations, and achieve advanced management systems by utilizing various enterprise-grade technologies designed exclusively for the energy industry.

Empower your system today!

Learn how to fully automate your processes to create a more competitive, transparent, and efficient system with our Power System Solutions.
Take your power system to the next level!

Energy Tech Trends

2022 Energy Tech Trends to watch

2022 Energy Tech Trends to watch 800 507 Exist Software Labs

The COVID-19 pandemic, numerous heavy typhoons, and other unfortunate events affect all business sectors in the country. One of the major industries affected is Energy and Utilities, and it highlighted the necessity for The Energy Industry to adopt a sustainable perspective and improve the technology system.

With the rising demand for energy in 2022, the Department of Energy will continue its advocacy to produce renewable energy to cut market prices and achieve sustainability. On the other hand, the private sector will continue to develop technology systems to achieve efficiency, high effectiveness and keep up with the continuously evolving energy sector.

While numerous technology solutions can assist these firms in achieving their digital objectives, only a few are expected to have a significant influence in 2022. These are the 2022 Energy Tech Trends to watch!

1. Powering Digital Economy Through IoT (Internet of Things)

IoT, or the Internet of Things, has played a vital role in advancing digitization in several industries, including IT, energy, agriculture, healthcare, and many more.

It is one of the most advanced technologies, and one of its advantages is that it improves the efficiency of several businesses, including energy. And as for the energy sector, one of the most important functions of IoT is energy conservation. 

The Internet of Things enables electricity firms to read data in real-time. It enables them to quickly gather, calculate, and analyze data to improve decision-making. It also helps the energy industry transform into an integrated system, resulting in a smart solution that is equipped with advanced technology to increase industry value and maintain asset efficiency for the benefit of the economy.

2. Fifth-Generation Technology will establish the connection

Many companies will continue to improve their systems in 2022. The sector will continue to advance the electric grid to make it more reliable and less expensive, thanks to the national government’s directive to push for renewable energy and industry’s developing market demands.  

These companies rely on Millions of connected devices and digital systems, such as smart meters, sensors, management systems, to communicate data from many locations. And with their objective to digitize their system, they need to have fast and dependable technology, thus creating a need to access 5G technology. 

5G technology is the next generation of cellular technology after 4G. It has faster speed, lower latency, and the capacity to connect more devices at the same time.

Fifth-generation wireless technology will provide new features and more efficient smart grids. New 5G mobile networks will assist the integration of unconnected devices into new smart grids; it will also help the development of new electricity load forecasting software for accurate energy monitoring and forecasting. Organizations will now be able to receive and process the massive volume of data at quicker speeds with no chance of downtime.

3. Companies in the energy industry will continue to migrate to the cloud

The cloud holds the potential for endless growth, system efficiencies, and digital integration in any business industry.

With the Power industry’s continued growth, it needs a system that can handle its complex process and massive data efficiently, effectively, and precisely; this is where the cloud can help.

The cloud has the potential to change every aspect of the energy value chain. Connectivity, scalability, analytics, and automation can all help you save money and increase profits in countless ways.

Thanks to Exist’s strong foundation in the power industry, with its business solutions to industry market leaders and cloud services to other business verticals, we can now quickly apply tailored advancements to your company.

4. Artificial Intelligence will revolutionize the game.

Artificial Intelligence (AI) is becoming relevant in the energy industry and has great potential for future energy system structures.

Digital technologies such as Artificial Intelligence (AI) will make energy sector systems more intelligent, efficient, dependable, and sustainable, which benefits the entire energy sector chain, from generation to transmission to distribution to the consumer.

In terms of alignment with the government’s ambitions, AI would also benefit Renewable Energy. With the growing use of renewable energy sources, it is becoming increasingly difficult to regulate the megawatts that are fed into the grid; with this, power networks will be unstable and prone to blackouts.

With this technology, renewable energy sources may now provide real-time, accurate data that allows AI to predict capacity levels.

5. Energy Sector will embrace the power of Machine Learning

With Machine Learning (ML), it’s as if you have a sophisticated human mind monitoring your system, complete with advanced self-learning algorithms, taking your data to a whole new level by making human-like decisions based on current AI data.

ML employs approaches that can be applied to predictive maintenance. Power lines, machines, and stations, in essence, are outfitted with sensors that capture operating time series data.

With enough data, your system can now forecast if a failure will occur in your system, allowing you to more efficiently monitor maintenance, reduce downtime, and avert system failure as soon as possible; thus, lowering your system expenditures.

6. Taking Advantage of Big Data

It’s one thing to get your data, but it’s quite another to use it to your advantage. 

Big Data Analytics has the potential to be a key driver in achieving optimal company performance in the energy sector.

Big data can help the energy business in many ways, including improved supply chain management, enhanced customer satisfaction, optimizing business efficiency, analyzing future risks and possibilities, and much more.

As a result, more and more energy companies are becoming more competitive. A superior business strategy that incorporates a large amount of data and efficient processes is assisting them in developing company value and increasing customer satisfaction.

So, how can you achieve the advanced system and follow Energy Tech Trends?

Whether you like it or not, the energy sector will continue to advance its technological innovation.

In this regard, it is important to look for an innovative partner who can add value to your organization, and this is where Exist Software Labs can assist you! With our extensive experience in the energy industry, we could bring you the innovation you deserve.

Empower your system today!

Learn how to fully automate your processes to create a more competitive, transparent, and efficient system.
Take your power system to the next level!

The 7 Wonders of Big Data and Analytics in the Power and Energy Sector

The 7 Wonders of Big Data and Analytics in the Power and Energy Sector 768 487 Exist Software Labs

Big data and analytics help the power and energy companies address and overcome new industry challenges through insights-based informed decision-making.

Nothing is forever. Like oil and gas, our natural energy sources are on the brink of scarcity, but global energy consumption is growing each fleeting day. The only way to earn extra time is to optimize its use correctly or gradually shift to renewable energy. To do that, big data and analytics help in automating and digitizing production, demand, and supply.

What is big data and analytics, you ask? IBM defines big data as any data that cannot be captured, managed, and/or processed by traditional management components and techniques. While analytics uses advanced mathematical techniques on diverse big data sets from different sources and in various sizes. In other words, data becomes big data when traditional methods, or a single computer, cannot be used to deal with data. It becomes analytics when these big data sets are processed.

The power and energy sector produces and collects large data sets continuously over some time. This data comes from their technology infrastructure, including sensors, cloud computing, wireless, and network communication. Smart meters alone in about a million households can collect 200 terabytes per minute.

Competitive edge of Big Data and Analytics

Businesses across the power and energy industry face many challenges to manage this data and draw insights from it. But when they start to invest in big data and analytics, data-driven companies will cultivate benefits in the long run. So, let’s look at the seven biggest advantages of implementing a big data strategy for power and energy companies.

1. Energy Efficiency

Energy preservation has always been a global issue. While there are advancements in using renewable and reusable energy, necessity still lies in saving it. But in today’s scene, companies should look more into using energy efficiently, requiring less energy for the same function, which is possible with technology.

By 2035, the Asia-Pacific Economic Cooperation (APEC), in which the Philippines actively participate, targets a reduction of aggregate energy intensity by 45%, based on 2005.

Big data analytics can play a significant part in the power sector’s role in this situation by deriving data coming from smart meters, asset operations, business policies, and weather data. It can be integrated and analyzed over time, which helps design electrical devices with energy-efficiency parameters, thus reducing power requirements. Energy efficiency plays a vital role in reducing carbon emissions. To achieve this, power corporations can forecast usage and predict savings by leveraging big data solutions in this manner.

2. Risk Management

Implementing a big data strategy in any business model can work wonders in assessing and managing hefty risks. It eliminates the practice of deriving business decisions from gut-feel and empowers executives with hard evidence instead. The truth can be said for the power and utility industry. Making informed investment decisions is the pinnacle of effectively utilizing the power of big data analytics.

Energy companies can derive valuable insights from power generation and consumer consumption. Predicting anticipated prices, creating dynamic pricing based on peak usage and demand, and adjusting the business operation model to cope with challenges can be done with data-driven decision-making. Enterprises that can embrace big data solutions’ advantages will have a strong market position and attain sustainable business growth.

3. Power Planning

Coming up with optimized power generation planning is another significant benefit of a big data analytics strategy. The strenuous task of matching power supply with the demand for energy on the grid, or economic load dispatch, can be performed quickly and efficiently by applying advanced big data analytics techniques. In effect, it improves energy production efficiency and lowers production costs.

4. Data Collaboration

Understanding what problems to address is first and foremost before implementing an analytics strategy. Big data analytics can predict production demand in the power sector, enhance efficiency, and optimize the operation process. Whatever it may be, enterprises can work with a wide range of data. Bringing all this data together can take a lot of time, but using big data analytics tools to collaborate all data can streamline the process and present visualized reports. 

5. Supply Chain Visibility

The retail industry utilizes big data effectively, especially in managing its inventory and forecast demand to improve supply chain management. The power sector is no different from retailers with its utilities. Technologies today, such as smart meters and smart grids, integrate with big data systems. This strategy enables enterprises to balance demand and supply, facilitate dispatch decisions, increase efficiency, organize inventory, and enhance reliability.

6. Customer Engagement

It is of vital importance for energy companies to be a data-driven and customer-centric business. Technology advancements, government regulations, and shifting customer behavior fast-track an optimized plan for consumer engagement. With big data analytics implementation, energy companies can shift to engage with customers in highly personalized environments, which can increase customer satisfaction, promote new products and lower the service cost.

7. Predictive Maintenance

Logical algorithms can consolidate and assess a large volume of data for power companies, enabling them to develop more effective business strategies. Energy providers can respond quickly in near real-time by predicting the market using specified vital indicators. Implementing big data will improve equipment monitoring and maintenance that will minimize production hours and system disruptions.

Transformation through Big Data and Analytics

With innovations such as predictive analysis, the power and energy industry is experiencing a large-scale transformation. With the assistance of predictive analysis, grids and meters are becoming more intelligent.

It is more evident today than before that this sector has a vital role to play in delivering essential products and services necessary to the world’s economy. Regardless of the industry’s shifts, power providers should continue to satisfy essential standards to provide energy services that are efficient, accessible, and sustainable.

Businesses continue to grow each day, but there are so many out there who do not have this technology and are not experiencing its benefits. There are real-time predictive analytics, grid operations analytics, and consumer analytics that power and energy providers can invest in.

Investment is mission-critical in this scenario to reap the real benefits of big data and analytics. Each day offers new opportunities, and the best solutions to today’s problems are yet to be done. The new normal calls for new innovations, and it is prime time for the power and energy sector to embrace this idea fully.

Exist is your data solutions partner of choice!

Explore the next level of your digital transformation journey with big data and analytics. Let’s look at opportunities to better maximize your ROI by turning your data into actionable intelligence. Connect with us today, and we’ll proudly collaborate with you!

Asia-Pacific: Fastest Growing Market in Big Data Analytics

Asia-Pacific: Fastest Growing Market in Big Data Analytics 768 487 Exist Software Labs

At a time when the pandemic forced enterprises to cut-down ICT investments, there remains optimism in anchoring big data analytics to improve business performance and derive highly informed business decisions.

About 3 in 4 enterprises in Asia-Pacific choose to keep investments in big data analytics (BDA) solutions or even expand this year, according to the latest COVID-19 survey by IDC. This standpoint is sound for businesses as big data analytics presents proven and essential use in enabling digital trust and resiliency now and post-pandemic, more so.

The coronavirus pandemic has caused a decline in the number of ICT investments. But businesses see technology resiliency as the best way to oppose its negative impact. By gathering relevant insights, enhancing productivity, satisfying customers, recognizing fraud, and reducing expenses, enterprises remain competitive with a data strategy in place. Moreover, enterprises are pushing towards public cloud deployments to optimize BDA investments.

The positive outlook around big data analytics comes at a time when global crisis forced companies to cut ICT expenditures. This decision became almost instinctive because of big data analytics’ proven value in keeping businesses alive amid the pandemic.

Energy sector’s fastest-growing market

In a report published by Mordor Intelligence, the Asia-Pacific (APAC) shows a promising future leading the energy sector’s market growth in big data analytics. The market intelligence and advisory firm cited the increased adoption and demand for IoT and smart technologies in government initiatives across the region.

If there is one thing that the energy sector can reap benefits from big data analytics, it is the power to manage scarce resources. After all, only 5% of the world’s energy consumption comes from renewable sources.

The most remarkable technology that is most likely to boost the market growth in 2021-2026 are smart meter systems. Smart metering in big data analytics involves components, such as grid operations, field services, resource planning, customer experience, and regulatory compliances. Big data analytics in smart metering helps in predicting energy consumption. Clearly, this empowers enterprises in managing supply and demand, and mitigating energy waste.

The same report mentioned India’s growing deployment of almost 2 million smart meters. Which takes advantage of today’s technologies and big data techniques. At the same time, China will be the leading country. Due to its increasing adoption rate of smart meters and smart grids across the country with its large population.

Banks and Telcos leading the pack

Contributing to nearly one-third of spending on big data analytics in the APAC region for 2020-2024, banks and telcos are the top verticals investing in BDA solutions: a report published by the technology research firm IDC.

Capitalizing on financial, transactional, and customer data, the banking industry has always been a haven for big data analytics and will remain so in the foreseeable future. With customers shifting to a more digital experience in banking, bank providers are pushing to scale up their digital transformation as rightfully so. Even though considering complicated legacy banking systems as a hurdle, bank executives recognize prioritizing digital initiatives.

Relatively, the telco industry shows a promising position as the second most prominent investor in big data analytics. Telcos leverage data on customers, sales, and marketing to gain insights for business growth. As we have mentioned before, big data analytics can help optimize the customer experience, which is a big thing for this sector.

State of big data analytics in the Philippines

In Southeast Asia, the Philippines is one of the fastest-growing economies in the region. The country’s expected annual GDP growth surpasses the 5.3% regional average, which stands at a solid 6%. Despite this, competition continues to grow as more digital innovations disrupt traditional business models. Data is everywhere and is becoming more available than ever before. Businesses should see this with a bird’s eye view of how big data can translate to business value. At the same time, customers are engaging with highly personalized experiences.

The Philippines market for big data is still very small. If large firms continue to embrace BDA services and recognize worth, small and medium businesses will follow. This is, however, with a condition. A robust legal framework and support from the government must be in place. Especially, data privacy and security remain to be of major concern.

Optimism in anchoring big data analytics

The big data scene can create around 10 million new jobs in the next five years, Former Globe Telecom chief information officer Henry Aguda shared in an interview with Rappler. If this outlook proves itself, this can directly impact the state of the country’s economy and provide employment opportunities.

Besides employment, possessing hardcore evidence-backed decisions can only do good and be a superpower for firms and organizations. With big data utilized to develop more rigid solutions, businesses can be proactive on what the market wants. In this case, an opportunity is on the rise: tweaking products and services by attending to consumer habits.

Companies worldwide have already established that deeper assimilation and application of data analytics in business translates into greater business value. It is becoming more evident here in the Asia-Pacific region, with enterprises increasing their investment in advanced toots and infrastructure to manage their data better. In this way, companies are taking the right path. A new level of innovation in an increasingly competitive global market.

Exist is your data solutions partner of choice!

Explore the next level of your digital transformation journey with big data and analytics. Let’s look at opportunities to better maximize your ROI by turning your data into actionable intelligence. Connect with us today, and we’ll proudly collaborate with you!