Introduction:

Our client is a manufacturing plant. They specialize in producing fused cast and sintered refractories. They have high energy demands and participate in energy auctions on the IEX (Indian Energy Exchange) to reduce energy costs. It is challenging for them to bid energy on IEX without accurate knowledge of its power consumption across the slots.

Problem Statement:

• The Plant has been auctioning for energy in IEX without information on its required power consumption. With our analytics, they can increase their savings in auctions.

Objective

• Analyze the data from furnaces to determine consumption in various operational states.

• Calculate the power consumption of furnaces for each slot.

• Examine the auctioned power vs the energy consumed.

• Correlate the essential data from the plant and compute the solution.

• Display the required energy consumption, enabling users to auction and increase savings.

Solution:

• The plant implemented our EMS system, through which our team analyzed their energy consumption.

• Neo’s D&A (Data and Analytics) team analyzed the furnaces' energy demand at various operational states across each slot.

• We analyzed the sales price of the IEX for the last year for each slot.

• Our team correlated all this data and developed an insight tool to assist users in bidding in IEX.

• With Neo’s analytics tool, users can bid on the energy from IEX and thus increase their savings.

Conclusion:

With Neo’s analytics, the client can save more than 18 lacs in energy costs across 4750 slots (based on the IEX sales price and the furnace’s operational condition).