Business transformation: This year's crucial utility challenge (DistribuTECH 2014 video)

Published: Mon 03 Mar 2014
A blog entry by Smart Grid Watch

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In New Brunswick, Canada, a Siemens consulting project is charting a course to transform how utilities do business. There, the Siemens North American Smart Grid Center of Competence has partnered with their local utility, New Brunswick Power, to address industry trends that are challenging the traditional utility business model.

The Siemens Smart Grid Compass methodology, a key tool in achieving transformation at NB Power, was showcased at DistribuTECH. Siemens management consultant John Cooper compared the main steps of Compass to taking a journey:

1. Get oriented. Figure out where you are now.

2. Define your destination. Envision your objective, where you want to go.

3. Plan your route. Determine the best way to get from here to there.

4. Navigate along the route, to stay on your path.

Through Compass, notes Cooper, "Siemens is like a co-pilot that works alongside utility partners, steering the course. I think business transformation is the critical utility issue for 2014."

More about Siemens at DistribuTECH 2014.