There’s no doubt about it: disruption is in the air for Belgium’s energy market. When it comes to utilities, our country is facing numerous challenges in different areas, including technological, topological, regulatory and sociological changes. At the same time, we have been struggling with persistent paradoxes for quite some time now. Consider, for example, the almost exponential growth of alternative energy sources, while Europe is confronted with energy overcapacity. The debate concerning a nuclear power phase-out, too, is far from over, and our idea to rely more on gas-fired power stations is in no way consistent with the increasing pressure Belgium is under to drastically reduce its CO2 emissions.
Why roll out Smart Meters in Brussels?
Being the distribution grid operator for all 19 municipalities of the Brussels-Capital Region, Sibelga considers it one of its main objectives to provide its customers with a balanced network and a guaranteed electricity supply.
AE and Fluxys work well together. The utilities player and AE have been partners for almost 20 years. The perfect time to place this collaboration in the spotlight. Together with Albin Vico, IT Program Manager, and Vincent Mahieu, IT Project Leader, we zoom in on this co-creative partnership and look towards the future.
Why RegTech matters
RegTech is a commonly used term to indicate “the use of new technology to meet regulatory requirements”. These requirements are becoming more and more complex due to the fact that it concerns more functionality, available on all platforms, using massive amounts of data.
The challenges in the financial sector are substantial: new tech-driven challengers in FinTech are putting pressure on well-established players. Changes in regulation like GDPR or PSD2 are forcing companies to take a long, hard look at their own processes and supporting technologies. And finally, the new customer is a digital native, expecting financial services to be so as well.
It’s time to evolve into a digital, data-driven organisation, a message that many companies are embracing right now. But while the financial sector was changing, so was the software industry.