E.ON
A European multinational electric utility company, one of the world's largest investor-owned energy distribution and infrastructure companies
In 2023, E.ON investigated quantum algorithms to simulate energy markets and manage risks.
Challenges
Solution
Results
Outages and market swings are risks that classical Monte Carlo can’t effectively hedge against
A quantum Monte Carlo algorithm managing risk in energy pricing with volatile weather and demand
Found their algorithm would outperform classical methods on scaled up quantum hardware
Challenges
Outages and market swings are risks that classical Monte Carlo can’t effectively hedge against
Solution
A quantum Monte Carlo algorithm managing risk in energy pricing with volatile weather and demand
Results
Found their algorithm would outperform classical methods on scaled up quantum hardware
“Once quantum advantages are here, everyone will want to take advantage…It’s better to have the skills already. Otherwise, it will be difficult to catch up.” - Dr. Giorgio Cortiana