The Art of Storytelling
Elizabeth Cook is Vice President of Technical Strategy at the Association of Edison Illuminating Companies.
It's no secret that the electric utility industry is undergoing transformative change. The grid is evolving at an unprecedented pace, energized by rapid technological advancements and the commitment to transition away from fossil fuel-based power generation to a wide array of cleaner, more sustainable sources of electricity.
Historically, with ever-growing load growth, the industry focused on programs designed to reduce usage. Now, with an increasing emphasis on electrification, we are intentionally increasing demand. This transition has placed electric utilities at a critical confluence.
The industry is still operating under traditional regulatory and business models developed over the past one hundred years to meet the mandate of safe, reliable, affordable power. Now, on top of that, there are rapidly rising expectations to increase efficiency and sustainability while influencing consumer behavior and delivering high customer satisfaction.
Central to navigating this confluence is the understanding that the technical requirements of the electric utility should be the primary driver that enables and fosters change. This means that utilities, as the owners and operators of grid assets, should be embracing and leading the imperative shift toward new ways of thinking, innovation, and entrepreneurship.
This is not a familiar or comfortable role for an industry that, historically, has had a very low tolerance for risk. Utilities are driven by technical necessities, which can often require a slower pace of adoption in order to avoid getting it wrong by moving too fast.
So, how then can utilities assume a leadership role during a period of such rapid change? First, we need to get beyond the well-documented discussions of the what and the why of grid transformation and its benefits. Our focus must shift to how meaningful change will happen and who will lead it.
At the heart of how transformation should proceed lies the pursuit of operational excellence and the alignment of modern technical requirements with evolving regulatory and business models. Utilities must recognize that their technical needs can unlock innovation and rouse the entrepreneurial spirit of operational experts within their organizations to embrace and lead change.
If the utilities that own the current assets and their operational experts who understand how the grid works don't become better educators and storytellers about the technical needs of grid transformation, then they risk future misalignment of business and regulatory models that could negatively impact operations and financial stability.
This is where AEIC has a pivotal role to play. There is immense power in AEIC's community of member utilities coming together to share experiences, challenges, and successes. We need to define the how of transformation by using operational lessons learned to guide key decision-making along the way.
AEIC, with its roster of expert committees, is uniquely positioned to frame and facilitate in-depth discussions and capture the stories we need to tell to ensure that the technical needs of utilities are at the forefront of driving change.
By collectively talking about real projects and narrating stories that illustrate the how, utilities can build the confidence to drive home clear, concise messages to effectively engage all of the stakeholders that comprise the transformational who. This engagement includes educating internal audiences such as executive leadership, middle management, and employees in emerging roles such as IT, and data analytics.
It also means strengthening lines of communication with the exploding universe of vendors, tech startups, and individual contributors that are introducing unconventional approaches and potentially disruptive innovations to the industry.
Finally, our storytelling must connect transformational activities to direct customer benefits such as cost savings and service quality. Messages regarding progress and milestone achievements must speak to consumers, policymakers, and regulators who all influence business and regulatory models in a variety of ways.
As we navigate these transformative times, the collaborative efforts of AEIC's member companies and its committees are instrumental to the resilient, innovative, sustainable future of our industry. Honing our skills at the art of storytelling for the new energy economy can be a valuable asset to unlocking transformative change.
