Powering North America: innovating utility business models in the face of industry turbulence
BY GREGORY ALIFF, Deloitte LLP
The North American power sector is changing in unusual ways, so the time to innovate may be now. The key will be to develop innovative solutions that meet changing customer needs and expectations. This is not familiar territory for much of the industry. While the electric power sector has historically improved its performance in providing safe, reliable, and affordable electricity, its basic operating model for meeting customer requirements has not changed for decades.
This feature in Electricity Today Magazine offers electric sector stakeholders a way to think about the industry’s coming evolution so that they can determine if, when, and how to pursue transforming their business models. It also challenges stakeholders as to whether their organizations have what it will take to break the constraints to true innovation and move confidently toward a profitable, successful future.
A critical question facing the U.S. electric sector is this: Are market forces signaling that the pace of change is accelerating in disruptive ways, and that new business models are needed? And, if change is indeed around the corner, how should the electric sector position itself?