Utility transformation guided by improved customer insight.
Osvald Bjelland is chairman and CEO of business advisory firm Xyntéo. Bjelland launched the Global Leadership and Technology Exchange Partnership, a Xyntéo initiative that brings together leading businesses in a partnership that aims to reinvent growth.
Electricity consumers are changing. Their expectations for reliability and customer service levels are higher than ever and continue to grow. Solar PV and other end-use generation technologies are becoming an attractive and affordable option for an increasing number of customers. And the use of smart meters is becoming ever more widespread in the wake of rollout programs across the United States.
As a consequence, the ground is shifting under the feet of utilities – and regulators. Recent publications, including from the Edison Electric Institute,1 and public statements made by utility executives such as David Crane, CEO of NRG,2 show how concerned the incumbents are becoming and how unsustainable the status quo is perceived to be. The question is not if, but how utilities – especially vertically integrated utilities – can transform into market- and customer-oriented companies.