Utilities
Assessment of Digital Maturity

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Synopsis

The digital maturity of the electricity industry is somewhat mixed. Some utilities are using advanced analytics to optimize assets; and in some systems there is widespread implementation of smart meters; while some utilities are beginning to digitally manage and integrate distributed generation resources. However, according to research sponsored by the WEF, overall only about 43% of utilities are currently investing in digital technologies as part of their overall business strategy, indicating this mixed status.

In a study involving more than 1,900 companies in Europe and the US, conducted by BCG, a consulting company, 57% of the utilities considered themselves to be digital laggards. Although utilities mostly invest on a project basis as vast bureaucracies, their close B2C orientation is now forcing them to also face increasing convergence between electric utilities and the home retail market, where intelligent appliances and smart meters are increasing demands for greater customer orientation. They are also facing pressure from their commercial and industrial markets where a platform for industrial-scale analytics, are connecting machines, sensors, control systems and devices.

Today's utility customers expect more than just reliable electricity service. They are becoming more proactive, demanding more choice and expecting more personalized services. What is missing for many utilities today is a top-tier customer experience (CX) and the systems that support it. Some utilities are investing in digital self-service technologies and mobile platforms. According to another survey, less than 14% of the utilities surveyed have any integrated digital transformation strategy.

Overall, we observe a sector that has considerable digital ambition but suffers a mismatch between those aspirations and its digital vision, investment, culture, and capabilities. Our assessment of the digital maturity of the utilities industry is thus under 40%.

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Digital Transformation in the Utilities Industry - CASE STUDIES

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