United States. Companies with energy costs greater than 10% of total operating costs must invest in a new wave of industrial energy management software to achieve best-in-class operational excellence.
This is the main conclusion of a new report by independent analyst firm Verdantix based on interviews with 127 energy directors in industrial companies and an assessment of energy software applications from 16 suppliers such as ABB, EFT Energy, IBM, Oracle, Schneider Electric and Siemens.
The software helps businesses minimize the impact of rising energy costs. A global survey by Verdantix found that 65% of industrial companies will spend more on gas and electricity in 2015 than in 2014. This reflects the increase in energy prices. Since 2005, industrial electricity prices have increased by 4% annually in the US, 8% in Canada and the UK, and by 14% in France.
Over the same period of time, natural gas prices for industrial companies have increased each year by 15% in Japan, 10% in France and Italy, and 7% in Germany. Only in the U.S. and Canada did natural gas prices decline during this time period.
"Energy managers considering an investment in industrial energy management software should follow five best practices for the RFP process," said Alisdair McDougall, an analyst at Verdantix. "They have to evaluate data capture and integration computer systems, check alignment with processes, test analytical modeling functionality and energy, ensure scalability across sites, and certify configurability for different usage scenarios," he added.
