In a recent report World Economic Forum (WEF) says: "Digital technologies have tremendous potential to contribute to growth in the sector and help deliver exceptional shareholder, customer and environmental value".
They continue to list four digital and value creating themes:
- Asset life cycle management
- Grid optimization
- Integrated customer services
- Beyond electron
Themes that have the potential to serve both the industry and society.
Opportunities for business development and niche players
This industry should have great opportunity for new niche players disrupting the scene, might it be a solution for hyper-presonalized connected services, end-to-end connected markets or something completely different is yet to be seen. But the preconditions are right and there are money to be made, which usually is a catalyst for invention.
No transformation though is without challenge and for this sector some of them might be:
- Regulatory challenges
- Natural resources are not endless
- Increased competition
- Macro-economics and geopolitical
- Technological challenges
The new winners of this industry will be those who can address these challenges and use them to their advantage.
Or as stated in "Designing the new utility business models", study by IDC Energy Insight (shared by Capgemini): "There are a variety of possible new models, but these must be vetted. Utilities will need help from outside to develop viable strategies to adopt these new models".
- Customer case - Lyse, Nukissiorfiit,
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Make the organizations internal and external information available in order to increase transparence, beneficence and speed of interaction internally, with customers and other organizations. This must happen within an ecosystem that is capable of delivering IT solutions in an ever increasing speed.