The question occupying the minds of many utility executives is how to move their companies forward in these changing times, with the move towards decentralized generation and its impacts on the traditional business models and revenues – not to mention the increasing competition from new and non-traditional third party energy providers.
This topic was the subject of a recent Engerati webinar with Capgemini. [Engerati-From Utility to Energy Services Company – Fighting Back with New Ideas] Bringing experiences from working with utilities to find a response, Capgemini argues, as the webinar title indicates, that utilities need to effectively become energy service companies (not to be confused with the traditional ESCOs) offering new energy services to customers. These are likely to vary, depending on regional and regulatory differences. [Engerati-Three Innovative Companies Fight Back With New Ideas] They also offer the opportunity to work with potential competitors, as for example Vector in New Zealand is with Tesla. [Engerati-Engerati’s Week In Energy – Tesla Storage Goes Down Under]
But perhaps the most important point to note is that utilities, like other businesses planning ahead, need to take the initiative in these activities. And with Capgemini forecasting a 5-year window at best to adapt, the clock is already fast ticking.
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