2018 Power and Utilities Industry Outlook
Trends and opportunities in a changing industry
Technological, regulatory, and competitive forces lead utility executives to believe their companies will look very different in the next three, five, or 10 years. What will that change look like and how will the industry manage it? Read about the state of the industry and learn ways to harness emerging opportunities in a period of uncertainty in Deloitte’s 2018 Power and Utilities Outlook, a take from Scott Smith, US Power & Utilities leader, Deloitte LLP.
Trends transforming the power industry
Looking back at 2017, we see a year marked by multiple well-entrenched trends, including the changing fuel mix, falling power prices, rising renewable demand, the proliferation of distributed energy resources, and deepening commitment to resilience and cybersecurity. Change has come unevenly across the United States, with the pace often determined by regional differences in market and regulatory structures, resource availability, customer preferences, and the retail price of electricity.
As we stand several years into an electric power industry transformation, ... the grid is ‘smarter,’ electricity sources are cleaner, and customers have more choices than ever before. But the change is likely just getting started.
Download the outlook for further insight on how utilities can harness opportunities in the power industry transformation.
Scott Smith’s take on 2018
As the industry transformation continues to unfold, current trends will evolve and others will likely emerge. Uncertainty will be a constant. But fortunately, some bright spots on the horizon can help illuminate the path for electric power companies. Two of the most promising trends are the projected demand lift from transport electrification and the potential benefits of digitalization.
We expect digitalization to increasingly enter the spotlight, as electric power companies map out new ways to deploy rapidly advancing technologies to address challenges and harness opportunities.