Energy companies could save a collective £4 billion a year if they shared their customer data with selected partners, according to new figures.

The efficiency savings – which equate to £70,000 for every megawatt of peak capacity – were calculated by law firm Foot Anstey and energy systems developer QBots.

The findings feature in a report entitled “Data in Energy Storage: Mine, Mine, Mine”.

The report admitted the calculations were “utopian”, but said savings could be managed in a “sensible and commercial way”.

‘Goldmine’ of data

Chris Pritchett, Head of Energy at Foot Anstey, said: “The problem is often not stockpiling of data, it’s the reverse – people don’t know what a goldmine they’re sitting on.

“But we’re not advocating that everyone suddenly starts to share everything they have, with no heed to the commercial impact.

“Instead, we see clusters of strategic partnerships developing and exciting localised projects such as smart cities and microgrids.”

> Download the report