Embracing New Business Models in the Age of Energy Transformation

In a blog for the Western Energy Institute, Guidehouse Insights says exploring new strategies is necessary for utilities to remain relevant

The energy industry is in the middle of an aggressive transformation driven by climate change and exponential growth of distributed energy resources (DER). To remain relevant, utilities must adapt new business models quickly and efficiently.

In a blog post for Western Energy Institute, Jessie Mehrhoff, research analyst at Guidehouse Insights, highlights findings from a recent survey of 400 utility industry participants with Public Utilities Fortnightly.

The survey results showed that grid modernization remains a top business priority for utilities as disruptive forces continue to intensify across industry. Mehrhoff said that as the industry evolves more and more toward the Energy Cloud, existing challenges will escalate, and new obstacles will emerge, which underscores the importance of new business models and strategies. 

“New and existing trends uncovered in this year’s Pulse of the Industry survey demonstrate that utilities understand it is imperative to adapt to unlock and capture new value along the entire supply chain,” she said. “Despite this understanding, disruptive forces are only intensifying across industries at rapid speeds, and the power sector needs to act to remain competitive and implement new, agile products and solutions.”

Read the Western Energy Institute Blog Post
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