E.ON, one of Europe’s largest energy companies, is harnessing the power of quantum computing to tackle the complexity of its dynamic energy grid. As the company supports Europe’s transition to renewable energy, it faces increasingly complex grid demands. E.ON is exploring quantum computing as a solution to prepare for these changes. Dr. Giorgio Cortiana, Head of Data & AI at E.ON, notes that the company must make new energy work and that quantum computing can help deliver new efficiencies and competitive advantages.
Working with IBM Quantum, E.ON has developed an algorithm for managing weather risk that could outperform classical methods using a sufficiently advanced quantum computer. Dr. Corey O’Meara, Chief Quantum Scientist at E.ON, praises IBM’s Qiskit capability, which enabled the team to break down the problem into manageable pieces. With IBM’s 127-qubit quantum computers and Qiskit, E.ON is on track to achieve utility-scale work in the next three years, paving the way for better energy prices for its customers.
The Promise of Quantum Computing
E.ON, one of Europe’s largest energy companies, has partnered with IBM to explore the potential of quantum computing. This technology offers a new approach to solving complex problems that could take millennia to solve on classical supercomputers. By leveraging quantum computing algorithms, E.ON aims to find more efficient solutions for energy pricing and management.
The Era of Quantum Utility
IBM’s advancements in quantum hardware and software have enabled reliable computations at a scale beyond classical methods. This marks the era of “quantum utility,” where quantum computers are the best tools for getting exact answers from quantum circuits. The next step is finding “quantum advantages,” instances where quantum computers outperform classical methods.
E.ON’s Quantum Advantage
Working with IBM, E.ON developed an algorithm for managing weather risk that could outperform classical methods on a sufficiently advanced quantum computer. This algorithm helps make hedging decisions by simulating the cost of offering energy at a certain price given specific weather conditions over a contract period.
The Power of Qiskit
To run this algorithm on real IBM Quantum hardware, the team utilized Qiskit’s dynamic circuits capability to break down the problem into manageable pieces. This allowed them to overcome limitations of earlier quantum computers and take advantage of IBM’s 127-qubit machines.
Advice for Other Organizations
E.ON’s experts advise other organizations to focus on utility-scale work, partnering with universities, research institutions, and providers like IBM to find synergies and tackle common problems in the field. Companies can stay ahead of the curve as quantum advantages emerge by capturing “low-hanging fruit” and developing quantum talent pools.
The Future of Quantum Computing
As quantum computing advances, organizations that fail to develop their skills may struggle to keep up. E.ON’s goal is to achieve utility-scale work in the next three years, and its experts believe that now is the time to invest in quantum talent and capabilities.
Overall, this article highlights the potential of quantum computing to transform industries like energy management and the importance of partnerships and investments in this emerging field.
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