Oracle (News - Alert) just announced the availability of Oracle Utilities Meter Data Management 2.0, a critical component of the Oracle Utilities Smart Meter Platform.

This will help utilities manage the huge volumes of customer energy and water consumption data generated from smart meter deployments. Also utilities will be able to organize consumption data and convert it into actionable intelligence thereby enhancing service besides controlling operational costs and also responding in a timely fashion to meter-related events and alerts, said company sources.

Oracle Utilities Meter Data Management 2.0 occupies the core of the platform and it verifies, stores, processes and formats the data enabling every utility department, application and business process to get the metering information it requires.

The new version is expected to help Oracle take care of integration problems that occurs between customer information systems and meter data management systems. The new version also reduces data duplication and interoperates with Oracle Utilities Customer Care and Billing. This allows a customer service representative to easily access the data required to resolve customer queries without having to jump between applications.

Utilities can leverage custom, legacy systems with a more simplified IT architecture with Oracle Utilities Meter Data Management 2.0. It supports the move to time-of-use, intraday or real-time pricing initiatives. The software enables utilities to benefit from the flexibility required in configuring an IT system to meet the goals of any smart grid initiative.

In a release Mike Ballard, senior solutions architect, EDF Energy said, “Oracle Utilities Meter Data Management’s robust interval data capabilities are important for enabling our key business processes. The software’s interoperability with multiple Oracle solutions should give us the scalability and functionality we need to achieve our goals as one of the United Kingdom’s leading energy companies.”

Stephan Scholl, senior vice president and general manager, Oracle Utilities explained that the Oracle Utilities Meter Data Management 2.0 is a true enterprise metering solution that enables utilities to organize huge volumes of consumption data generated by smart meters. This data can be converted into intelligence that helps them run their business more effectively across every department.

“It ultimately helps empower customers to effectively monitor and manage their energy and water use,” Scholl emphasized.

Oracle plans to include more applications in Oracle Utilities Smart Meter Data Management Platform within a year. These include Oracle Utilities Business Intelligence for Meter Data Management, Oracle Utilities Smart Grid Gateway (News - Alert) and full support of communication to customers regarding usage and efficiency programs.