Turning the tables
Disruption in the energy sector
The adoption of renewable and decentralised energy sources; shifting customer expectations; and new and emerging organisations that are displacing existing outfits by transforming the value proposition of energy offerings, are situating Australian energy incumbents in an era of unprecedented disruptive changes.
For Australian energy incumbents, survival hinges on their ability to transform their:
Mind-set from a zero-sum mind-set that is competitor led, profit driven and short-term focused; to a disruptor’s mind-set that is customer led, innovation driven and sustainability focused
Business model from being about generating, distributing and selling more electrons; to minding the integrity of a distributed energy ecosystem
Capabilities from the operation of centrally-managed, fossil-fuelled and highly redundant energy infrastructure; to open digital platforms that orchestrate the optimised exchange of peer-to-peer services
Culture from a risk-averse culture of incrementalism and command-and-control; to a customer-obsessed culture of focused innovation and participant empowerment.
So what can leaders do now to prepare for disruption? We outline five key steps for energy leaders follow in our report Turning the tables.