03 Dec Transformation on the Energy
Digitalization, deregulation, and liberalization are the forces impacting the energy market and changing the basic conditions for the generation, distribution, and utilization of energy. Political and technological developments under the banner of the energy turnaround confront the electricity, gas, and oil industries to an equal degree with significant challenges. Energy utilities are struggling with declining profit margins and significant cost pressures. Owing to changes in the general legal structures, they face the task of driving forward with their reorientation – a situation similar to that for telecommunications companies in the recent past.
Innovation and Digital Transformation
More than ever before, energy utilities must prove that they are capable of innovation, break up the logjams in investments, and find replacements for disrupted value chains. Consolidation measures are needed to review classic financing models, to minimize procurement and trade risks, or to harmonize system landscapes, just to mention a few areas of action. Customer orientation, a high level of service quality, and adaptation to technological developments are other important subjects. In many cases, strategic, procedural, and organizational changes cannot be sustainably implemented without close meshing with ICT.