Innovation Funding
A well formulated innovation programme will produce a stream of reliable technological advances providing advantages for both the business and its customers. It is important that there is a balanced portfolio of projects producing short, medium and long-term benefits.
Such benefits include (but are not limited to):
- sustainable operational cost savings;
- quality improvements in network performance such as reductions in customer minutes lost (availability), customer interruptions (security), distribution losses etc; and the
- targeting of capital expenditure to where it provides optimum benefit
Cre8 can assist nework operators in the production of detailed plans
- programme management from problem through concept to solution
- costs and resource requirements
- an assessment of the scale, nature and timing of the value and other benefits
- the integration of these project plans into an overall programme which is suitable for regulatory funding where available
- exploration of potential opportunities for collaboration and external funding
- consultation with operational management
- deployment, review and reporting
Cre8 can assist international regulators in formulating effective incentive schemes to promote innovation
The UK electricty regulator Ofgem introduced the Innovation Funding Incentive (IFI) and Registered Power Zone (RPZ) incentive mechanisms in 2005. The primary aim of these two new incentives is to encourage and provide funding for Distribution Network Operators (DNOs) to apply innovation in the way they pursue the technical development of their networks in order to deliver value (i.e. financial, supply quality, environmental, safety) to end consumers.
Cre8 have recently completed a review of the projects reported under the UK OFGEM's Innovation Funding Incentive (IFI) for 2005/6 this shows that the introduction od these schemes has had a major impact on activity.
There are a large number of are projects are now under way but there still major opportunities that have yet to be explored.
Interested parties are invited to contact us immediately for further details of the analysis and the opportunities.
enquiries@cre8energy.co.uk
Tel: 44 (0)208 325 6560
Fax: 44 (0)870 486 4065