Volatile markets, changing regulatory frameworks and greater consumer engagement are shaping an increasingly complex energy ecosystem. The terrain is challenging but also full of opportunities for growth through new markets, new ventures and new value creation.
Sound familiar? That’s because we’ve said all this before.
And it still holds true. What’s changing now is that utilities are reaching a different tipping point. Chalk it up to solar, storage, and other distributed energy resources—alongside the rapidly falling cost of disruptive technology, the explosion of automation and artificial intelligence, and finally consumers who are constantly on the digital move asking for hyper-relevant experiences. Longstanding business and operating models are being shaken to the core.
To adapt, successful energy providers are pivoting. They’re selecting a new strategic direction to determine where and how to differentiate in a disruptive energy world. As they work to operationalize the strategy, they’re also setting their sights on becoming digital experience leaders.
We’re covering those topics in depth in our latest New Energy Consumer research: New Paths to Operating Agility.
For the past seven years, Accenture has collected energy consumer insights from around the globe. Our eighth and latest New Energy Consumer research indicates a consumer push toward advanced digital capabilities, next-generation services, and intelligent and integrated energy offers.
In our latest research, we explore what it takes to deliver against those expectations. Our analysis reveals the importance of building a digital customer operating model that is agile, adaptive, digital and flexible. It also affirms the importance of starting at the core: with a culture that empowers people to move forward with speed and then adapt to drive ongoing change and innovation.
Building a new model—block by block
What does it take to implement a digital operating model? This year’s research and analysis point to some essential steps to success in the evolving energy ecosystem:
Reshape how you change. Implement a new, more integrated approach to transformation strategy, planning and execution. Design the approach to address digital business models, technologies and market demands that further increase organizational complexity.
Move faster. It’s time to advance beyond the decades-long pattern of long planning cycles, rigid processes and a desire for certainty. Embrace continuous innovation—and be willing to move quickly, “fail fast” and iterate with agility.
Let strategy mold culture. Create a culture aligned to your strategy and market play. Promote people-first customer-centricity, speed and experimentation. Just as important: Introduce new styles of digital leadership to innovate and navigate the organization through infinite disruption.
Reimagine your metrics. Build new ways of measuring progress and tracking return on digital investments. Adopt forward-looking metrics for customer engagement and digital transformation KPIs to steer the transition.
To pivot and continue to thrive in the rapidly evolving energy ecosystem, providers must move boldly and decisively: Build a digital operating model. Drive fundamental culture change. Advance next-generation customer capabilities. New Energy Consumer: New Paths to Operating Agility shows how energy providers can get started—today.