A novel methodology to determine the new functionalities needed in the next generation of smart meters

This paper analyses the possible functionalities to be implemented in the second generation of smart meters for i-DE Redes Electricas Inteligentes S.A.U. These functionalities are proposed in the BIDELEK 4.0 project and would complement the functionalities of current smart meters. All the proposed functionalities have different requirements that will be also analysed to establish what is needed in the new generation.
To carry out such an evaluation, a novel methodology is proposed combining three tools to provide sufficient information to determine which functionalities are viable and should be implemented. These tools are: CBA (Cost Benefit Analysis), SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and KPI (Key Performance Indicators) analysis. Each tool provides different information due to the method of analysis employed.
To establish whether the functionality is discarded or implemented, the life cycle of the equipment being analysed is considered, as the decisions must be valid in the long term. In addition, legislation is also considered because it is a key aspect in the changes that can be imposed. The importance of this analysis should be highlighted insofar as it will determine an investment of millions of euros for i-DE (i-DE Redes Eléctricas Inteligentes S.A.U.). The proposed methodology and the conclusions presented in this paper may be very useful for other distribution system operators facing the deployment of a second generation of smart meters.