Lancaster University launches research to reduce energy bills
Lancaster University has teamed up with an energy supplier to undertake research to reduce energy bills.
The university will develop forecast systems which will determine more accurately gas and electricity consumption across the country.
It will use historical data including peak usage times and seasonal trends, which together with weather factors such as temperature and wind speed, researchers will be able to forecast customer demand.
Thanks to the university research, energy company BES Utilities hopes to buy wholesale power at the most competitive price and reduce gas and electricity bills for its 40,000 customers.
Prof John Boylan, leader of the research team, said: “As Europe’s leading centre for forecasting research, we develop applied research with companies, transfer knowledge between academia and business and build best practices in methods, processes and systems.
“We are delighted to be working with BES Utilities and believe our expertise can help the company best develop new systems which will be invaluable for both BES and its customers.”