Accenture Uses Artificial Intelligence-Driven Database to Help Reduce Electricity Rates for Colonial Pipeline’s Interstate System

Rhea-AI Summary

Accenture (NYSE: ACN) is collaborating with Colonial Pipeline to utilize its AI-powered Utility Tracking System (UTS) for optimizing electric utility rates across Colonial's pump stations. This initiative aims to reduce costs and improve efficiency by analyzing approximately 30 million anonymized utility bills gathered over two decades. The project leverages insights to present lower-cost options to Colonial Pipeline, which operates a 5,500-mile system delivering 100 million gallons of refined products daily. The partnership is driven by a commitment to transitioning to renewable energy while enhancing business resilience amid changing market conditions.

Positive

• Utilization of AI-powered Utility Tracking System to optimize utility rates.
• Collaboration expected to yield lower electricity costs for Colonial Pipeline.
• Support for transitioning to renewable energy sources.

Negative

• None.

ATLANTA--(BUSINESS WIRE)-- Accenture (NYSE: ACN) is using a proprietary database powered by artificial intelligence (AI) to help Colonial Pipeline, the largest refined products pipeline in the United States, reduce regulated and deregulated electric utility rates for its interstate pipeline system.

The energy-management project leverages Accenture’s Utility Tracking System (UTS), a proprietary database of approximately 30 million anonymized utility bills that the company has been aggregating for more than 20 years. Built to identify power tariff options around the world, UTS uses AI-powered insights and automation as part of Accenture’s SynOps platform to continuously improve the efficiency and reliability of electricity rate-savings recommendations.

Accenture is using insights generated by UTS to evaluate power bills for operations at approximately 80 Colonial Pipeline pump stations along its 5,500-mile pipeline system, which delivers approximately 100 million gallons of refined petroleum products daily to markets in the Southern and Eastern United States. Armed with information about tariff options, Accenture presents lower-cost options — e.g., reduced cost per kilowatt-hour — to Colonial Pipeline, and then works with utilities to help implement new rates.

“This initiative, which is part of our ongoing effort to optimize utility rates, has shown encouraging results early on and should continue to help us in our comprehensive review of all utility accounts on our system,” said Tony Leo, manager of energy management and power optimization for Colonial Pipeline. “We look forward to our continued partnership with Accenture as we identify opportunities to transition to renewable energy to power our pump stations.”

Yusuf Tayob, group chief executive of Accenture Operations, added, “Our work for Colonial Pipeline is a great example of how Accenture’s long-term investments in technologies are helping clients deepen business resilience amid evolving market conditions. We look forward to making further progress on this project and to helping Colonial Pipeline evaluate how it can buy green energy, which increasingly is powering infrastructure as consumers and stakeholders demand cleaner air and less environmental impact.”

About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services and Accenture Song — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 710,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.

About Colonial Pipeline:
Colonial Pipeline Company, founded in 1962, connects refineries ­– primarily located in the Gulf Coast ­– with customers and markets throughout the Southern and Eastern United States through a pipeline system that spans more than 5,500 miles. The company delivers refined petroleum products such as gasoline, diesel, jet fuel, home heating oil, and fuel for the U.S. military. Colonial is committed to safety and environmental stewardship across its operations. More information about Colonial is available at www.colpipe.com.

Copyright © 2022 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture. This content is provided for general information purposes and is not intended to be used in place of consultation with our professional advisors. This document refers to marks owned by third parties. All such third-party marks are the property of their respective owners. No sponsorship, endorsement or approval of this content by the owners of such marks is intended, expressed or implied.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220711005047/en/

Guy Cantwell

Accenture

+1 281-900-9089

guy.cantwell@accenture.com

Jenn Francis

Accenture

+1 630-338-6426

jennifer.francis@accenture.com

Source: Accenture

FAQ

What is Accenture's recent project with Colonial Pipeline about?

Accenture is using its AI-powered Utility Tracking System to help Colonial Pipeline optimize electric utility rates across its pump stations.

How does Accenture's Utility Tracking System work?

The Utility Tracking System analyzes around 30 million anonymized utility bills to identify cost-saving power tariff options.

What are the expected benefits of the project for Colonial Pipeline?

The project aims to reduce electricity costs and improve efficiency, potentially leading to significant savings.

What is the significance of this collaboration for Accenture?

This partnership showcases Accenture's investments in technology that enhance business resilience and support renewable energy adoption.

When was the press release about Accenture's project with Colonial Pipeline issued?

The press release was issued on July 11, 2022.