Discover Deloitte and learn more about our people and culture. The commercial model is also one example of how utility companies need to and can go beyond optimizing “what is” but truly review business models, for instance with alternative pricing models. Common business goals include improved interactions with customers, more streamlined operations, greater efficiencies, and hopes of triggering new business models. Get your Free Digital Adoption … Customer experience transformation requires organizations to make decisions based not only on business and shareholder value, but also on value created for customers and communities. How can utilities address carrying cost and regulatory lag? No utility executive should be thinking about measuring the success of digital transformation by the number of mobile developers hired, scrum masters trained or dollars invested. Digital transformation: focus on the utilities industry Among the industries facing big challenges and having tremendous opportunities in digital innovation and transformation is the utilities industry. April 10, 2018. are such complex ecosystems. US Energy, Resources & Industrials Industry Leader, Telecommunications, Media & Entertainment, Activate the digital utility with Deloitte, Organizations that are ‘walking the talk’. Thepower and utilities sector was traditionally where many parents or grandparents parked their savings as they got older, attracted by low volatility and stable returns. Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. Tomorrow’s digital utilities will foster innovation by engaging in constant exploration and discovery—with the understanding that innovation often occurs in unproven or unknown domains. By 2035, organizations in every industry will be dealing with a vastly different energy landscape. The energy and utilities industries are undergoing a dramatic shift driven by rising stakeholder and customer expectations, increasing economic, and political uncertainty, and emerging new technologies. When conveniently used, AMI can help utilities take their digital transformation to the next level. For example, the digital transformation of utilities can improve the efficiency of power generation and the transmission and distribution of electricity, all while providing consumers with more capabilities … Microgeneration and microgrids could change the game for corporate and college campuses, and their power and utility providers. For utility firms the challenge is not just to review, optimize and transform existing processes and business models. Accenture did a tremendous effort in this regard and summarized it all in a great infographic on the “digital utility”. Digital transformation is happening not only in the tech industry, but also in unlikely industries like the utility business. Do you know and understand your organization’s digital DNA—the core traits that can help you operate and innovate in the future, such as your ability to collaborate intentionally, “democratize” information, and operate with morphing team structures? Today, digital is transforming the way power and utilities companies … How the Program supports agencies We embed benchmarking on several essential business processes in the assessment to quantify tangible performance results. It's easy to assume - looking at industries like media, retail, and tech - that all industries have made the switch to digital technology. Increasingly, digital is becoming the foundation for most business applications. Successful digital transformation for utilities providers Successful digital transformation for utility providers As customers demand digital, responsive and trustworthy service from their utilities providers, companies must reorient every move to put the customer at the core. How are utility companies planning their journey to become a truly “Digital Utility”? Digital Transformation in utilities from around the world Thames Water adopted remote asset monitoring to anticipate mechanism failures and respond in real time. This message will not be visible when page is activated. "Digital transformation efforts have become a high priority for many utilities. Read on for the top benefits to digital transformation in the utilities industry. The focus was on how to start down the path to digital transformation… In general, operations involve allocating, scheduling and deploying a variety of personnel, equipment, tools and vehicles that ensure a utility’s assets are serviced, maintained, replaced and restored to ensure reliability. Amidst the rapid digital transformation sweeping across utility companies, CIOs are often caught between reconciling legacy and new systems, faced with … System of engagement ArcGIS integrates all types of data, gives all users access to the data they need for better collaboration, and supports digital transformation. The digital transformation journey. Field workers are facing operational, organizational and digital disconnections due to an aging workforce and changing job expectations, spurring the need for a digital transformation in utilities… Any water utility, regardless of its phase in their digital transformation journey, can see increases in ROI from past investments and make the most of existing technology structures by … With the added strain of the COVID-19 crisis further stretching municipal budgets, creating remote workforces overnight, and introducing a new level of uncertainty, it’s imperative that IT leaders of public utilities take a hard look at systems and processes to begin the process of digital transformation now. Digital Transformation in utilities and construction is no longer a luxury or an afterthought. How will you respond? Changing customer demands rule all. For example, the digital transformation of utilities can improve the efficiency of power generation and the transmission and distribution of electricity, all while providing consumers with more capabilities and choices around their energy use. augmented/virtual-reality capabilities, and wearables, Digital transformation in the energy & utilities sector, A power and utilities perspective: Tech Trends 2019, A power and utilities perspective: Human capital trends. Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams. By adopting a holistic view of inventory management. The industry is built upon billion-dollar infrastructure projects, from power plants to natural gas pipelines, that are designed to last for decades or longer. Digital utilities stand to reap big rewards by improving processes, increasing understanding of the customer, empowering employees, boosting security, and mitigating risks. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Digital Transformation of Current Back-End Processes The power and utilities industry can only successfully become more customer-centric once they have optimized back-end processes. Implementing the Roadmap to Recovery: The roadmap to recovery is a strategic plan for the navigation of Covid-19 and beyond, aiming to increase activity across the utility … There are of course more technologies and digital evolutions in the utility industry whereby we find more ‘traditional’ technologies (cloud, for example) and more advanced ones (e.g. Digital Transformation in utilities from around the world Thames Water adopted remote asset monitoring to anticipate mechanism failures and respond in real time. Digital Transformation for Power Utilities Projects. As consumers evolve and have an ever growing need for connectivity, the electric utilities … Emerson’s Juan Panama and Mark Jordan presented on building the utility of tomorrow, today at the 2019 Ovation Users’ Group conference. How will you survive—and thrive—in a dynamic digital future? DTTL (also referred to as "Deloitte Global") does not provide services to clients. What are you doing to take advantage of these new technologies and stay ahead of the pack? DTTL and each of its member firms are legally separate and independent entities. Peter Peters, Partner addresses how power and utility clients can bring digital transformation … A few of the drivers of digital transformation within the utilities industry include: Leveling out power demands, thus reducing peaks and valleys, which requires smart meters, combined with the Internet of Things (IoT), to gather near-real-time consumption data. The pandemic forced utilities to veer away from traditional ways of conducting In this Energy, Resources & Industrials (ER&I)–specific report, we’ll explore these trends from the lens of each of the industry’s sectors. Digital transformation in the utilities industry has lagged in no small part because of a generational technology clash. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Our “see, think, do” approach to transformation means we can help you identify needs and opportunities, visualize your future state, thoughtfully design processes and strategies to support your “to be” vision, and perform the hands-on work for turning that vision into a reality. The disruption of COVID-19 has accelerated digital transformation in almost every industry. In the last 10 years across the utility industry, no one in the C-suite has been under more scrutiny than the CIO. We added an graphic below with an overview of the six major and most pressing industrial control systems risks for the utility industry as ABI Research identified them. © 2020. The changes ahead bring new complexities and new potential value—and force utilities to up their digital capabilities. Common business goals include improved … By 2022, 20% of digitally determined utilities… Virtual-reality-based training, digital twin assets, mobile work tools, preventive asset maintenance capabilities, and machine intelligence for supporting utility network management. It is to find completely new ways to conduct their business. Most leadership teams understand the … It caused a systemic shift in technology adoption, from the very beginning of the pandemic. Utilities executives are accustomed to thinking large and long-term. One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. Among the (really many) challenges facing the utilities industry overall (and making abstraction of regional differences): The graphic below summarizes just a few of the mentioned challenges. Read more about the digital transformation This disruption is already visible in markets worldwide: Various utility startups have transformed the industry’s landscape by introducing unique, cutting-edge solutions to markets that are longing for change. Energy 4.0: Digital Transformation In Energy & Utilities Industry Technology has been increasingly adopted by all major industry sectors over the last several years—and the energy industry is no … Ultimately, how will your organization become more agile than it is today, and how will it stay agile? Digital transformation isn’t a once-and-done operation and, as 2020 has demonstrated so well, priorities can change in an instant. Digital transformation in utilities: the rise of connected workers. Transform your power and utilities organization into a digital utility, and you can begin to get ahead of tomorrow’s challenges—to become a customer-driven organization that can deliver new … Amihan provides digital strategy & consultation and technology solutions to help utility companies drive their digital transformation journey forward.. From data analytics to process automation to cloud … Electric, gas, and water utilities are investing in digital technologies to improve in areas such as operations, regulatory compliance, reliability, safety, and customer satisfaction throughout their organizations. They all will be integral pieces of the digital utility future. COVID-19 has presented the power and utilities industry with a unique opportunity to shift from an “old school” mindset to one of innovation and customer centricity. Along with the complexity of the utility value chain and fast-evolving evolutions thinking ahead and grasping the benefits of “new technologies” is key in this extremely competitive and sensitive market with many fluctuations in the broader ecosystems. Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. April 10, 2018. All images belong to their respective mentioned owners. Among the industries facing big challenges and having tremendous opportunities in digital innovation and transformation is the utilities industry. So, let’s look at some of the technological evolutions playing a crucial part in the utilities industry. Digital has helped many organizations generate greater efficiencies across their operational business units, significantly improve customer experience, and accelerate innovation to allow them to stay ahead of the competition in rapidly changing markets. Start your utilities digital transformation journey to help improve efficiency and lower costs across your entire enterprise. Read these about these 3 key areas. What will that future of energy look like? digital twins enabling to build replica of assets in the cloud for optimization of design, engineering planning, maintenance and so forth, de facto needing a range of other technologies, including mentioned ones such as IoT and artificial intelligence) – the graphic below shows some forecasts in that regard (and on how these technologies will be used from the mentioned IDC top 10 worldwide utilities predictions 2019. Long-term success comes from a more focused approach, harnessing digital capabilities to meet the challenges that utilities … For more than 20 years, Wei has directed high-impact engagements from strategy through execution, working at the intersection of innovation, digital technologies, operations, and organizational maturity. Becoming a digital utility requires your entire organization to undertake a transformational journey in which your organization becomes a digital enterprise—a journey to be digital, not simply do digital things. Forces such as rising customer expectations, evolving technologies, growing competition, increasing regulatory pressures, and aging infrastructure are driving gas, water, and electricity providers to become digital organizations. We found plenty of uncertainties, but four scenarios clearly emerged based on our research. Smart is indeed the word we stumble upon in all aspects of digital within a utility industry context and overall service economy context: from smart meters to smart cities (where utilities come into play as well, smart grids) and smart parkings. Learn more. However, new revenue models and sources, as well as opportunities of process improvement from various possible angles are universal across the utility chain. Digital Transformation for the Utilities - An Overview Get Published - Build a Following The Energy Central Power Industry Network is based on one core idea - power industry professionals … As consumers evolve and have an ever growing need for connectivity, the electric utilities industry is in a unique position to harness the power of connectivity. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. Why Utilities Need Digital Transformation Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams It's easy to assume - looking at industries like media, retail, … Why Utilities Need Digital Transformation. However, the dimensions of operating models, technology architecture and – last but not least – commercial models are mentioned as well as you can check out below (with some cases too). Reid is the leader of Deloitte's US Consulting Energy, Resources & Industrials Industry practice. change your targeting/advertising cookie settings. Digital Disruption – Water Utilities 2019. Smart power generation with advanced monitoring and controls, as well as smart transmission and distribution, likely will be widespread in tomorrow’s environment. There are many players in the utility chain so the challenges, evolutions, technologies and transformations are not the same for all components of that chain. Combining device level data with the ability to orchestrate work in an end-to-end fashion will connect the silos between data and action in the utilities industry. Digital transformation has created new potential and possibility for the future of power consumption to make systems run more sustainably and simply. Share. In another decade, our daily work and personal lives will be infused with digital operations. The challenges utility firms face are diverse. See Terms of Use for more information. The Future of Utilities: Powered by Connectivity. Increasingly, digital is becoming the foundation for most business applications. Do not delete! Implementing the Roadmap to Recovery: The roadmap to recovery is a strategic plan for the navigation of Covid-19 and beyond, aiming to increase activity across the utility and construction sectors and accelerate adjustment to the ‘new normal’. Given the importance of the utility industry (critical), cybersecurity is at least as essential. Utilities need not necessarily have contingency plans in place for every possible digital scenario. What’s your plan for moving forward? The digital transformation will have a great impact on consumers and I think it is very important to ensure that any change comes with a communication strategy to convey the effects of the digital transformation to all 'digital' stakeholders, including consumers, workers, regulators, ecosystem actors, etc. Digital transformations are difficult: Bain’s data shows they are significantly harder than conventional change management programs, with only 5% of companies reporting they had achieved or exceeded … “‘Digital Water: Industry Leaders Chart the Transformation Journey’ leverages the insights of IWA members to help utilities learn from their peers, harness the power of digital technologies and enable communities around the world to become more water-secure,” states Kala Vairavamoorthy. Communications providers are investing an estimated $2 trillion in 5G and other connectivity technologies over the next five years. At the occasion of Oracle Open World 2013, Jonathan D. Loretto and Michel van Zupthen, both from Capgemini, made a presentation of the emergence and transformation of digital utilities in the “smart” era. Reduced waste A digital transformation can help water utilities to become more energy-efficient, less labor-intensive, more compliant with regulatory directives, and allows for streamlined communications among departments. According to an article in one of the premium publications, only one in ten pursue digital transformation outside of pressure from regulators, customers, or competition. The Consumer Council for Water (CCWater) … Digital transformation in the utilities sector is the process of adopting new digital ways of working, often with a business goal for utilities to reinvent themselves. Over the last decade, digital transformation has accelerated. The article also states that only a … This third article on digital transformation for utilities will discuss applications of digitalization at the heart of any utility. Enabling Digital Transformation in the Utilities Industry Delivering Visibility Without Borders for security, network, and application assurance across traditional data centers and multi-cloud environments. Digital transformation in utilities: the rise of connected workers. More about security in the utility industry in the article on the utility industrial control systems security report. When looking at the broader utility industry ecosystem, it’s important to break up the “chain” and see the various challenges and opportunities per element of the value chain as energy, water etc. On the customer front, the future likely will bring advanced interconnected solutions and self-service. Digital transformation has created new potential and possibility for the future of power consumption to make systems run more sustainably and simply. ArcGIS gives utilities a complete data model, providing ease of editing, expanding connectivity capability, and scaling to any size. 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