National Grid Plc (National Grid) is an energy utility, which transmits and distributes electricity and natural gas. The company owns and operates electricity and gas transmission and distribution networks; and also serves as a transmission owner and system operator. National Grid offers installation and maintenance services to LNG suppliers and electricity metering; build and operates electricity inter-connectors; and performs insurance and corporate activities along with LNG storage activities. It operates as an energy monopoly entity regulated by The Office of Gas and Electricity Markets (Ofgem). The company has operations in the UK and North Eastern US.
National Grid is focusing on digitizing its energy distribution network, managing assets, system stability, service delivery, efficient build, and net zero carbon emissions through utilizing new digital solutions, establishing partnerships with technology companies, and establishing incubator programs to support community of start-ups, to drive its digital transformation initiative. For instance, the company is planning to offer superfast charging points for electric vehicles along Britain’s motorways.
National Grid is exploring various emerging technologies like cybersecurity for threat detection, communication through encryption, and enhancing grid security.
National Grid adopted a cloud strategy to simplify and streamline its procurement operations, as previously the company relied on complex, aging systems. The company moved its procurement process to the cloud to reduce the operational costs and simplify the user experience.
The report provides information and insights intoNational Grid’s activities, including -
- Insights of its digital transformation strategies and digital innovation programs.
- Overview of technology initiatives covering strategic partnerships & investments.
- Insights on each technology initiative including technology theme, objective, and benefits
- Details of estimated ICT budgets and major ICT contracts.
- National Grid is tapping the power of AI, IoT, big data, robotics, virtual & alternative reality, digitalization, smart grid, cloud, blockchain, mobile, cyber security, office of the future, technologies for achieving operational efficiency, enhancing customer experience, and building efficient monitoring systems that optimize energy consumption.
- National Grid has launched in-house innovation hubs and technology teams, and also partnered with tech incubator and venture capital arms to explore new technologies and develop innovative clean energy solutions that help improve its business operations and customer service.
- National Grid launched its Energy Innovation Hub, a collaborative community space designed to engage conversations on future of energy and environment. The Hub offers interactive exhibits allowing users to gain knowledge on creating a clean energy future. The Hub accommodates space for businesses and organizations where school groups and after-school programs are invited to explore the space and learn about renewable energy and energy efficiency.
- To drive digital strategy, National Grid is working towards creating a centralized team for digital and data. In
- National Grid invests in innovative companies and emerging technologies directly through its venture arm or through external venture arm partners.
Reasons To Buy
- Gain insights into National Grid’s operations.
- Gain insights into its digital strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into various partnerships of National Grid.