Real-time analytics engine will help CGI Central Market Solutions to manage and analyze large meter data volumes within new Central Energy Market Information System
NEW YORK and LONDON, April 3, 2023 /PRNewswire/ -- KX, maker of kdb, the world's fastest time series database and analytics engine, will help optimize Polish utility operations through its partnership with CGI. PSE, the Polish TSO recently selected CGI to implement a new Central Energy Market Information System (CSIRE). KX, which is embedded within CGI Central Market Solutions (CMS), will help manage large meter data volumes and highly complex analytics for the project. The market size is estimated at 20 million metering points across the country.
CSIRE is intended to simplify and enhance data exchange across Poland's retail electricity market by unifying utility information processes and standards. Through the system, CGI will help PSE collect and process the electricity market information and metering data necessary to drive increased competition in the retail energy market, facilitate new value-added services, implement new business models and drive innovation.
Critical to its success is the efficient data management of these metering points, which are expected to produce 7 billion readings per day. Enabled by KX's highly performant time series data and analytics solution. CGI and PSE will validate the incoming data and ensure the process data is available to all market participants as well as provide aggregated data in support of market settlements - driving benefits for PSE's nationwide operations as well as Poland's households, enterprises and the retail utility sector as a whole including:
- Increased competition in the retail energy market
- New business models and value-added services
- Improved engagement with consumers
- Reduced errors and more efficient energy use
"Meter data is computationally intensive, requiring the analysis and management of huge volumes of streaming time series data. The KX Data Timehouse, with the kdb+ time series database at its core, was designed to meet this moment," said James Corcoran, Chief Growth Officer, KX. "We've witnessed the power utilities gain by unlocking the insight within data to address the complexity of today's energy environment and look forward to working with CGI again on one of the largest energy market projects of its kind in the world to help achieve similar success."
"We selected KX specifically for its ability to process and manage time series data at speed and scale. The number of smart meters in use, and subsequently the volume of data, will continue to increase significantly over time. Together with KX, we are perfectly positioned to help Poland revolutionize the energy sector and accelerate toward a smarter, cleaner, and more flexible energy system, involving higher-frequency meter data and scaling toward real-time data," said Mattijs van den Hoed, VP Consulting, CGI.
As energy market operators and participants cope with increasing regulation and the demand to deliver additional services, KX technology continues to be the high-performance partner for those seeking to become data-driven industry leaders. In addition to CSIRE, CGI previously leveraged KX and its kdb+ time series database - independently benchmarked as the world's fastest - to deliver Fingrid Datahub 2.0 for the Finnish energy market in 2022, a solution which aims to create a better experience for consumers while enabling greater efficiency. For more information visit www.kx.com.
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2022 reported revenue is $12.87 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
Our mission is to accelerate the speed of data and AI-driven business innovation enabling customers to transform into real-time, intelligent enterprises. Built for the most demanding data environments, our Data Timehouse platform is trusted by the world's top investment banks and hedge funds, and leading companies in the life and health sciences, semiconductor, telecommunications, and manufacturing industries.
At the heart of our technology is the kdb time series database and analytics engine, independently benchmarked as the fastest on the market. It can process and analyze time series and historical data at unmatched speed and scale, empowering developers, data scientists, and data engineers to build high-performance data-driven applications and turbo-charge their favorite analytics tools in the cloud, on-premise, or at the edge.
Ultimately, our technology enables the discovery of richer, actionable insights for faster decision making which drives competitive advantage and transformative growth for our customers.
KX operates from more than 15 offices across North America, Europe and Asia Pacific. For more information visit www.kx.com or contact: email@example.com.