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WASHINGTON, June 12, 2023 — In the midst of the ongoing energy transition, utilities must keep the lights on while simultaneously upgrading sometimes century-old infrastructure and integrating distributed energy resources (DER). According to Guidehouse’s eighth annual survey of industry stakeholders, in partnership with Public Utilities Fortnightly, utilities are embracing the opportunity to redefine resilience and support thriving communities by improving customer experience.
The annual State and Future report identifies key changes in the electric utility industry and highlights steps organizations can take to navigate a successful path forward. This year’s findings show climate change and GHG reduction mandates make DER integration a necessity, along with building and transportation electrification. But the resultant changing nature of power loads and flow means that Industry 4.0 technologies — automation, sensing and measurement, and cybersecurity — should be prioritized.
“The power grid and the utilities that enable it are foundational elements to a successful society and resilient economy. More than ever before, the utilities that operate the grid, their regulators, and society at large, understand their fates should be increasingly intertwined going forward,” said Dan Hahn, leader of Guidehouse's Energy Providers practice. “The increasingly competitive environment — as opposed to the virtual monopoly utilities enjoyed for more than a century — means they must dramatically improve their customer engagement capabilities. Based on the survey, the industry stands ready to meet these challenges.”
Utility sentiment is evolving across four key energy transition themes, according to the report:
“Utilities today, along with the people living and working in the communities they serve, face myriad evolving threats and challenges,” said Michelle Fay, leader of Guidehouse’s Global Solutions practice. “Combine rising costs and an uncertain economic outlook, ongoing supply chain bottlenecks, increasing storm frequency and intensity, and new Environmental, Social, and Corporate Governance mandates to the picture, and the depth and breadth of power industry challenges is clear. It won’t be easy, nor happen quickly, but all these advances have the potential to drive increased quality of life and improve social equity.”
Download State and Future to see the full survey results.
About Guidehouse’s Energy, Sustainability, and Infrastructure Segment
With more than 1,200 consultants and technologists, Guidehouse's global Energy, Sustainability, and Infrastructure segment is the strongest in the industry. We are the go-to partner for leaders creating sustainable, resilient communities and infrastructure, serving as trusted advisors to utilities and energy companies, large corporations, investors, NGOs, and the public sector. We've solved big challenges with the world's 60 largest electric, water, and gas utilities; the 20 largest independent power generators; five of the 10 largest oil & gas majors; the 20 largest gas distribution and pipeline companies; European governments; and the US federal government's civilian agencies involved in the country's land, resources, and infrastructure. We combine our passion, expertise, and industry relationships to forge a resilient path toward sustainability for our clients. We turn vision into action by leading and de-risking the execution of big ideas and driving outcomes for our clients that enable them to reach their ambitions through transformation. For more information, please visit www.guidehouse.com/esi.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has over 16,500 professionals in over 55 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.