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UTILITY 2.0: The Changing Face of Energy Utilities in the UK
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This insight paper explores the key disruptive changes that are transforming the energy utility sector of the United Kingdom (U.K). Utility sector today have to compete in a rapidly changing environment of customer needs, technological trends, decarbonisation and competition etc. irrespective of the industry they belongs to. ‘The Changing Face of Energy Utilities in the UK’ is no longer enough to steer your innovation strategy roadmap, particularly when the paradigms of the ‘Obvious’ are changing faster than the utility businesses can adapt to.
In the modern age of green growth and digital transformation, rapid changes in the utility sector call for a faster than ever response to fully leverage the growth enabling trends. And while almost every energy utility in UK is grappling with the enormous challenge of adapting to and staying innovative in this shifting landscape, this paper provides a way out for them in terms of strategy development, emerging technologies, value propositions and business models.
- Disruption changes in utility sector owing of decarbonisation, digitization and de-centralization, becoming the new common, the other non-technological elements of the business ecosystem are also not untouched by the sweeping changes that disruption has introduced
- Utility customers expect, energy suppliers to be multi-dimensional in terms of their products and services. And the demand of green products is increasing at a higher rate than ever before.
- Utility sector is leading to a faster adoption of strategies to offer new products and services from markets like Electric vehicles, Connected Home, Energy Storage, Home Generation, Home Comfort, Smart energy etc.
- In order to benefit from the new business trends, energy utilities needs to embrace and adapt to the new ways of doing business quickly, build integrated frameworks, adopt sustainable strategies and invest towards technology upgradation & efficiency improvement.