We find ourselves in the middle of an energy revolution – so say almost all energy pundits. Who is leading this revolution is a little less clear, though broad consensus agrees that it is not the utilities.
Indeed, the pace of change seems to be overwhelming the traditional utility business model so much that questions are being raised as to the long-term health of the sector.
But, for all these warnings, many – if not most – continue to believe in the importance of utilities remaining in the driving seat. Utilities already have the investment capital behind them; an established relationship with the market; and an existing asset base. But for utilities to maintain their pre-eminence some fundamental issues need addressing: namely the need for building deeper, more meaningful relations with customers; continuing and furthering innovation investment; and getting to grips with and mastering the challenges and opportunities of big data.