The energy ecosystem is being driven by several powerful forces. Demand growth is sluggish as increases from the electrification of transport and heating are offset by customer adoption of energy-efficiency measures and small-scale distributed energy resources (DERs) like solar, smart heat pumps and battery storage. Renewables are being deployed at a rapid pace, increasingly competing with and even beating traditional generation sources on price.
Technology is emerging as an invaluable enabler, with digital interactions, digital customer journeys, digital advertising, on-line sales and services, personalization, and AI-driven customer operations driving significant customer engagement improvements and cost reductions.
The financial industry too is increasingly investing in sustainable business; with lower but volatile oil prices, investors see innovative, green-focused utilities and electricity as safe havens and, more importantly, as the energy businesses of the future. Competition in the space is also heating up with a host of new entrants all looking for a piece of new downstream energy value.