The position of power and utility companies as vital players in our nation’s critical infrastructure is firmly entrenched. However, the nature of that role will undoubtedly continue to evolve as a growing trend toward decentralization future necessitates utilities evolving into a platform from which increasingly numerous energy players can integrate new energy products and services.
Investments that help to build a stronger “digital bridge” to customers are essential for companies seeking to expand their role as an integrator and connector—or, what we’re calling a Utility Platform Player. Looking ahead the next few years, a majority of industry leaders tell us they plan to place the lion's share of their investment dollars on improving the distribution management network. Explore other steps your peers are taking to modernize their electric and gas infrastructure.
Diving into a modernized future isn't without its challenges. Conflicting priorities and regulatory hurdles lead the list as the top challenges potentially standing in the way of progress on this front.
Carrying out a five or 10-year infrastructure modernization plan will undoubtedly require gaining consensus on strategy across internal and external stakeholders. It also means that utilities will increasingly need to impart demonstrable and empirical evidence to advocate for the “big bets” they want to pursue. This can mean many things, including verifying the efficacy and safety of emerging technology, demonstrating ROI on new business models, or delivering an informed view on customer preferences and behavior.