Navigant Research: Utilities Need to Take a Pragmatic Approach to Energy Transformation
Navigant Research has released two reports examining how the energy transformation is playing out across distribution networks and providing examples of leading business models and practical recommendations for network utilities to realize a successful transformation. Distribution Utility Transformation Strategies highlights some of the leading examples of business model transformation specifically within distribution networks, while Digital Utility Transformation Best Practices aims to give network utilities practical recommendations to effect a successful transformation and builds on some of the recommendations provided in Navigant Consulting, Inc.’s Energy Cloud Playbook to offer best practices for creating an actionable roadmap for transformation.
“No two markets are the same, and no two companies operating in the same market are the same,” said Stuart Ravens, principal research analyst with Navigant Research. “As a result, each utility’s transformation will be different, but having a better understanding of the conditions that have forced change and the path of each company’s transformational journey, as well as a plan, will better equip utilities when their time for change comes.”
For most network utilities, transformation is not optional, and roadblocks are to be expected. However, according to the reports, having the right strategy in place will help to navigate political uncertainty, manage market-specific regulatory policies, access project finance from skeptical and conservative shareholders, and confront legacy issues such as corporate culture, a lack of skills, and outdated technologies.
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