Helping the utilities sector in India outmaneuver uncertainty by becoming digital enterprises
The utilities sector has always been at the forefront of preparedness to deal with changing situations, natural disasters and economic impacts. However, like most industries, COVID-19 caught utilities off guard and plunged them into a state of limbo. As the keeper of lifeline services, how can utilities, especially DISCOMS, maintain business continuity and show resiliency during the pandemic and beyond? The answer lies in embracing digital technologies, smart devices and data analytics.
Sparking a change
The global energy sector is undergoing a significant transformation—rapidly depleting conventional energy sources are being gradually replaced by renewable, sustainable and clean energy. This transformation has triggered a disruption in the utilities industry. Increasing penetration of renewables, distributed energy generation and energy efficiency evolution have resulted in volatility and price hike, impacting demand and investment. For utilities in India though, these challenges are compounded with existing institutional problems in the power sector. These include:
- DISCOMS are losing money because of high Aggregate Technical and Commercial (AT&C) losses of approximately 20 percent
- A supply-demand mismatch and regional imbalances are leading to frequent outages
- Developers trying to set up solar or wind farms are facing slow pace of greener transmission corridor buildup due to Right of Way issues and financial challenges
To ensure enterprise resiliency now and in the long term, utility companies must prioritize the safety of people and go the extra mile to serve customers while anticipating and minimizing the financial impact.
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