Planning NZ’s electrical energy needs versus our generation capacity
Jurisdiction: Aotearoa New Zealand
#Are higher energy prices avoidable?
How can we utilise AI/ML/Gen AI technologies to help plan our electrical energy needs vs generation capacity to help avert/avoid the spot pricing issues that are impacting NZ business and households at present?
A shortage of gas supply (used for ‘peaking’ power generation when hydro, wind and solar dry up) has combined with very low hydro lake levels to send wholesale electricity prices to new and unprecedented levels making NZ’s prices amongst the highest in the developed world.
Government agencies such as the Ministry for Business, Innovation & Employment (MBIE), the Electricity Authority (EA) and the Energy Efficiency & Conservation Authority (EECA) are giving the energy capacity a Priority One focus and are analysing New Zealand’s energy need growth in the immediate to long term future (until 2050). They are also analysing the projection of the changing nature of energy sources and associated consumption.
With climate change impacting weather patterns, NZ reliance on hydro generation could lead to continued weakness/uncertainty with supply and so we need to find ways to better predict available generation using a AI capability and incentivise the current Gentailers to build more capacity using an comprehensive solution of AI / Gen AI capability, tools and accelerators.
This needs to align with the guidance, regulation and policy being defined for the New Zealand Government and appropriate agencies driving this.
For e.g. MBIE very recently (July 2024) published a electricity-demand-and-generation-scenarios-report. (https://www.mbie.govt.nz/assets/electricity-demand-and-generation-scenarios-report-2024.pdf)
In February 2023, the Electricity Authority (EA) published an analysis on New Zealand’s electricity future generation and future prices (https://www.ea.govt.nz/news/eye-on-electricity/new-zealands-electricity-future-generation-and-future-prices/)
In 2021, the Energy Efficiency and Conservation Authority (EECA) published an analysis of - The future of energy in New Zealand, Increasing the supply and use of renewable, low carbon energy and its criticality in achieving New Zealand’s emissions targets and delivering New Zealand’s part to address climate change. (https://www.eeca.govt.nz/insights/energys-role-in-climate-change/the-future-of-energy-in-new-zealand/)
Examine the problem statement and develop an application / AI solution that helps consumers (commercial and/or domestic) be more predictively informed about likely energy supply challenges that could then lead to use/behaviour changes so as to reduce the financial impacts
The application / AI solution also provides insights to the government agencies driving the regulation, policy making for the energy sector in New Zealand on how Gentailers are aligning to this and performing to energy sources, consumption KPIs and how the competitive landscape stacks up on the affordability to both corporates, businesses and consumers.
Include specific examples or simulations to illustrate the effectiveness and potential impact of your proposed solutions. Demonstrate how your solution can be scaled or adapted to different contexts.
Prepare a presentation summarising your solution. If possible, include a working prototype or simulation to showcase the practical application of your concept.
Engage with mentors and peers during the hackathon to refine your ideas. Incorporate feedback to enhance the feasibility and impact of your solution.
Infosys is a carbon neutral company for the 4th year in a row. We are committed to :
Hence any actions that help our communities be more energy aware and efficient align with our values
Image Credit: Infosys
Eligibility Criteria:
Innovation Focus: Solutions must specifically address the use of AI to address the problem statement. Proposals should be original and not based on existing commercial products or solutions.
Technical Feasibility: Proposals should include a clear plan for implementing the AI solution, including technical requirements, feasibility assessment and potential challenges.
Ethical Considerations: All proposals must demonstrate a commitment to ethical AI practices, including considerations for fairness, privacy, and transparency.
Eligibility: New Zealand Only
Entry: Challenge entry is available to all teams in Aotearoa New Zealand.