What's Next for Utilities?

For the eighth year in a row, Guidehouse and Public Utilities Fortnightly have collaborated on a special report to identify key changes in the electric utility industry and to provide the guidance organizations need to navigate a successful path forward.

Through interviews with utility leaders and Guidehouse’s Energy, Sustainability, and Infrastructure experts, as well as an 8-question survey of industry stakeholders, the State and Future of the Power Industry examines what’s next for energy companies as they navigate upgrading aging infrastructure, ongoing supply chain bottlenecks, increasing storm intensity, and new Environmental, Social, and Corporate Governance mandates.

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Key Survey Trends

TREND 1

Converting Generation Sources Seen Boosting Resilience

To bolster business resilience, survey participants indicate that converting to sustainable generation sources and increasing investment in digital technologies are top priorities, at 40% and 35%, respectively. This will be emphasized by a shift toward DERs, which are key to increasing resilience, but must be enabled through digital tools.

TREND 2

Converting Generation Sources Seen Boosting Resilience

To bolster business resilience, survey participants indicate that converting to sustainable generation sources and increasing investment in digital technologies are top priorities, at 40% and 35%, respectively. This will be emphasized by a shift toward DERs, which are key to increasing resilience, but must be enabled through digital tools.

TREND 3

The Infrastructure Bill Supports Industry Priorities

In keeping with the themes seen throughout the survey, when questioned about the most attractive opportunities made available to the industry by the Act, respondents focused on transmission and distribution (T&D) upgrades and resilience, transportation electrification, and cybersecurity.

TREND 4

Electrification of Buildings and Transportation is Seen as Utilities’ Best Near-term Opportunity

Industry disruption also means new opportunities for incumbent utilities, and consistent with previous years, survey participants in 2022 believe the most attractive near-term opportunities will be found in the electrification of buildings and transportation. Not only will growth in these areas offset falling load due to energy efficiency and wider end-user ownership of renewables, but they also present opportunities for better real-time grid edge management and balancing.

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