Decarbonization, digitalization and decentralized energy systems are shaping a new energy and utility world, forcing power and utility (P&U) companies to set up new strategies. They have to transform their business models to meet the demands of a world in which customers can generate and trade electricity among themselves; where nontraditional new entrants from the automotive, telecommunications and oil and gas sectors are now serious competitors; and where networks are increasingly defined by multidirectional flows of data. Utilities are under increasing pressure to reduce costs and find new revenue streams, as margins from traditional sales decline.
The initial core business of energy players was to sell energy contracts. Now, they also offer optimization services to manage energy consumption, igniting bolder diversification moves in which technological enablers can help to design new offerings, and cross-sector sources of opportunity can shape new growth strategies.
The full report can be accessed here.
EY Energy Sector Law Leader