What will the electric utility of the future look like? This seemingly abstract question is being asked across boardrooms worldwide today as the electricity sector faces its greatest ever upheaval: the energy transition to net-zero emissions. No less than $5 trillion could be invested by 2030 to reach net-zero emissions, according to the 2021 ‘Net Zero by 2050’ report from the International Energy Agency (IEA). Much of this will go towards new generation infrastructure, but the grid itself will also need to adapt.
Critically, utilities are having to embrace digitalisation to achieve the levels of flexibility required by grids based predominantly on distributed intermittent generation assets. Technology developments such as the Internet of Things (IoT), where sensor networks are connected to IT systems for monitoring and control purposes, are giving utilities new tools with which to enhance operations—and pointing the way to the utility of the future.
Reuters Events’ latest whitepaper aims to review some of the key trends and technologies that lie along this path.
The release has been made free to view for all – get your copy today.
Key themes include:
- Electrification and the utility of the future
- Digitalisation and cyber security
- Efficiency and resilience
- The need for investment
While progress is arguably haphazard, it is clear the utility business model is progressing towards one that relies much more on technology and digitalisation for agility and resilience. This is good news, not just because it will enable today’s utilities to embrace a low-carbon future but also because it opens the door to the development of new business models and processes.
While many utilities may view these changes with unease, it seems likely that the electric utility industry could benefit greatly from the opportunities ahead. What is clear is that today’s innovators will be better placed to capture the opportunities early on.
Reuters Events’ latest whitepaper aims to review some of the key trends and technologies that lie along this path.
The release has been made free to view for all – get your copy today.
