change with the times.
Utilities are the essential foundations of any economy.
However, they often suffer from a lack of investment, ageing infrastructure and therefore carry a maintenance burden. Government ownership and regulation has in many cases prevented the industry from being progressive and the sector’s business strategies and operating models are too traditional and inwardly focused.
New technology and online services mean utilities no longer have sole access to their customers and, in many cases, have not been seen as serving their customers’ interests. This means that utilities are operating on average 10 years behind where they should be. The power industry is also at a tipping point as traditional fossil fuels give way to renewable energy.