IDC Energy Insights recently concluded the second annual IDC Pan-European Utilities Executive Summit, held in Stockholm on March 17 and 18, 2014. Based on the theme "Getting the Most Out of the New Normal," this year's invitational event gathered 43 utility executives from 19 European countries, alongside IDC analysts and sponsors, including Ferranti Computer Systems/MECOMS, NTT Data, Opower, Schneider Electric, Ventyx (an ABB company), WebResults, and Fluido.
Through the summit presentations, panel discussions, and workshops IDC Energy Insights found that:
- Utilities strongly agree that their industry is in the middle of a transformation to the "new normal" and that the future of the industry will be defined in the next three years. Utilities have the opportunity to reshape their strategies to play in the "new normal" and to tackle the risk of becoming disintermediated.
- Building flexibility into networks will continue to be crucial for the survival of distribution system operators, which will increasingly feel the strain of intermittent renewable energy sources coming online.
- Offering a personalized unified multichannel customer experience, on a par with other services that customers are exposed to, will become vital in utility consumer awareness and engagement strategies.
- Customer engagement will serve as an important tool used by utilities to influence behavioral change, for instance in demand response programs and to build customer loyalty and trust as markets become more competitive.
- In the era of digitalization, the convergence of IT and operational technologies (OTs) is a fundamental opportunity for utilities. Utilities are adopting a number of approaches to improve working relationships often at a project level, with still little appetite for a top-down level approach.
IDC iChart: Technological Contribution to Utilities' Innovation in the Next 5 Years
In keeping with the summit's objectives, the event continued to foster a collaborative setting to merge the IT and business worlds and address the key challenges facing the energy industry now and in the future. This year, the breakdown of delegates showed an almost even split between those representing IT (52.3%) and lines of business (47.7%) at a range of function levels: C-level (20.5%), VP/head/director (38.6%), and manager (40.9%).
"Flexibility, innovation, and collaboration are key for utilities to succeed in the 'new normal,' and digital technologies are the cornerstone of the transformation across the entire value chain," said Roberta Bigliani, associate VP and head of EMEA for IDC Energy Insights. "To deliver value to customers and shareholders, utilities need to work hard to eliminate the crippling divide between IT and operational technologies and consumer technologies. The annual IDC Pan-European Utilities Executive Summit offers utilities' IT and line-of-business executives such an opportunity."
The 3rd IDC Pan-European Utilities Executive Summit ("Redesigning Utilities for the New Normal") will be held on March 23-25, 2015, just outside Amsterdam. Email cpoulsen@idc.com for more information on the next summit.
For more insights and highlights from this year's summit, please see the following IDC Energy Insights reports:
- Getting the Most Out of the "New Normal": Highlights From the 2014 IDC Pan-European Utilities Executive Summit (IDC Energy Insights #EIOS52W, May 2014)
- IDC On-the-Spot Video: The New Normal - Insights From IDC's 2014 Pan-European Utilities Executive Summit (IDC Energy Insights #247933, April 2014)
About IDC Energy Insights
IDC Energy Insights assists energy businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the utility and oil and gas industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world's leading technology, media, research, and events company. For more information, please visit www.idc-ei.com, email info@idc-ei.com, or call 508-935-4400. Visit the IDC Energy Insights Community at http://idc-insights-community.com/....
Through the summit presentations, panel discussions, and workshops IDC Energy Insights found that:
- Utilities strongly agree that their industry is in the middle of a transformation to the "new normal" and that the future of the industry will be defined in the next three years. Utilities have the opportunity to reshape their strategies to play in the "new normal" and to tackle the risk of becoming disintermediated.
- Building flexibility into networks will continue to be crucial for the survival of distribution system operators, which will increasingly feel the strain of intermittent renewable energy sources coming online.
- Offering a personalized unified multichannel customer experience, on a par with other services that customers are exposed to, will become vital in utility consumer awareness and engagement strategies.
- Customer engagement will serve as an important tool used by utilities to influence behavioral change, for instance in demand response programs and to build customer loyalty and trust as markets become more competitive.
- In the era of digitalization, the convergence of IT and operational technologies (OTs) is a fundamental opportunity for utilities. Utilities are adopting a number of approaches to improve working relationships often at a project level, with still little appetite for a top-down level approach.
IDC iChart: Technological Contribution to Utilities' Innovation in the Next 5 Years
In keeping with the summit's objectives, the event continued to foster a collaborative setting to merge the IT and business worlds and address the key challenges facing the energy industry now and in the future. This year, the breakdown of delegates showed an almost even split between those representing IT (52.3%) and lines of business (47.7%) at a range of function levels: C-level (20.5%), VP/head/director (38.6%), and manager (40.9%).
"Flexibility, innovation, and collaboration are key for utilities to succeed in the 'new normal,' and digital technologies are the cornerstone of the transformation across the entire value chain," said Roberta Bigliani, associate VP and head of EMEA for IDC Energy Insights. "To deliver value to customers and shareholders, utilities need to work hard to eliminate the crippling divide between IT and operational technologies and consumer technologies. The annual IDC Pan-European Utilities Executive Summit offers utilities' IT and line-of-business executives such an opportunity."
The 3rd IDC Pan-European Utilities Executive Summit ("Redesigning Utilities for the New Normal") will be held on March 23-25, 2015, just outside Amsterdam. Email cpoulsen@idc.com for more information on the next summit.
For more insights and highlights from this year's summit, please see the following IDC Energy Insights reports:
- Getting the Most Out of the "New Normal": Highlights From the 2014 IDC Pan-European Utilities Executive Summit (IDC Energy Insights #EIOS52W, May 2014)
- IDC On-the-Spot Video: The New Normal - Insights From IDC's 2014 Pan-European Utilities Executive Summit (IDC Energy Insights #247933, April 2014)
About IDC Energy Insights
IDC Energy Insights assists energy businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the utility and oil and gas industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world's leading technology, media, research, and events company. For more information, please visit www.idc-ei.com, email info@idc-ei.com, or call 508-935-4400. Visit the IDC Energy Insights Community at http://idc-insights-community.com/....
