Accenture’s AI to reduce Colonial Pipeline electricity rates

Accenture has announced its use of a proprietary database powered by artificial intelligence (AI) to help Colonial Pipeline, the largest refined products pipeline in the United States, reduce regulated and deregulated electric utility rates for its interstate pipeline system.

The Dublin-based IT and consulting services company’s energy-management project leverages its Utility Tracking System (UTS), a database of approximately 30 million anonymised utility bills that the company has been aggregating for over 20 years.

Built to identify power tariff options around the world, UTS uses AI-powered insights and automation as part of Accenture’s SynOps platform, aiming to improve efficiency and reliability of electricity rate-savings recommendations.

Accenture is using insights generated by UTS to evaluate power bills for operations at approximately 80 Colonial Pipeline pump stations along its 5,500-mile pipeline system, which delivers up to 100 million gallons of refined petroleum products daily to markets in the Southern and Eastern United States.

Have you read:
BGE pilots ‘highly personalised’ experiences for customers on TOU rates
Revenue cannibalisation – the renewables price threat

The company has stated that it will leverage its garnered information on tariff options and present lower-cost options, including reduced cost per kilowatt-hour, to Colonial Pipeline and work with utilities to help implement new rates.

“This initiative, which is part of our ongoing effort to optimise utility rates, has shown encouraging results early on and should continue to help us in our comprehensive review of all utility accounts on our system,” stated Tony Leo, manager of energy management and power optimization for Colonial Pipeline.

Yusuf Tayob, group chief executive of Accenture Operations, added: “Our work for Colonial Pipeline is a great example of how Accenture’s long-term investments in technologies are helping clients deepen business resilience amid evolving market conditions.

“We look forward to making further progress on this project and to helping Colonial Pipeline evaluate how it can buy green energy, which increasingly is powering infrastructure as consumers and stakeholders demand cleaner air and less environmental impact.”