Change within the electric industry continues to accelerate as new technologies, longstanding reliability mandates and conservation goals push against the confines of aging infrastructure and an often outdated regulatory framework.
Distributed generation (DG), energy storage technologies and the industry’s need for capital to invest in upgrades will require electric utilities to embrace grid modernization and other new business approaches if they are to thrive during this transformative period. Customers increasingly must be engaged to improve service and strengthen long-established relationships in the face of competition.
The 2015 Strategic Directions U.S. Electric Industry Report captures how electric utilities are managing change across all aspects of their enterprise. Key areas discussed include the effect of natural gas prices on the generation market as well as a growing focus on cybersecurity in advance of new requirements set to take effect in early 2016. Regulation is a common thread throughout the report as the industry braces for the impacts of major environmental rules while managing traditional ratepayer concerns.
From a global perspective, the report includes insights on market shifts impacting the Gulf Cooperation Council (GCC), South Africa and Asia Pacific. Rapid transformation of global markets highlights the need for electric utilities to be resilient and ready for change. This can only occur when the utility and its stakeholders make the conscious decision to be proactive and work together to recognize the potential in new technologies and ways of thinking.
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