Colonial Pipeline has partnered with Accenture to optimize utility rates using artificial intelligence (AI).
Accenture is using a proprietary database powered by 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, according to a July 14 statement. 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.”
Founded in 1962, Colonial Pipeline Co. 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.
“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,” said Yusuf Tayob, group chief executive of Accenture Operations. “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.”
Accenture is a global professional services company with leading capabilities in digital, cloud and security. The company offers strategy, consulting, technology and operations services across more than 40 industries.Tags: Accenture, Artificial Intelligence, Colonial Pipeline Co.