Until recently, the traditional regulated #utility model for simultaneously collecting #revenue and keeping customers happy had been steady since the birth of the #grid. At the most basic level, a utility customer would use a particular amount of a commodity—#electricity, #gas, #water, and/or #wastewater services, receive a monthly bill based on usage and submit a payment. As long as the bill was correct, call center agents were available when it wasn’t, and service was uninterrupted, utilities didn’t have to fret over revenue or customers.
During recent years #distributedgeneration and other factors have changed all of that. According to the Oliver Wyman report, “North American Utilities: Still a Smart Bet for the New Grid”, “The warnings of competitive threats to the US utility industry have sounded as the new #smartelectric network begins to evolve and develop and new distributed #solar and #wind generation finds traction in the market. Today, utilities are seeing:
- Plateauing or, in some cases, declining revenue;
- Hits to customer satisfaction; and
- The unthinkable… A rise of new competitors in an industry that has never feared competition.
But the report provides hope. “Analysis finds a solid foundation for earnings growth even with coming changes,” it says, and the Utility 2030 Collaborative is seeing similar potential.
Learn more by tuning in the Utility 2030 Collaborative’s two-part, on-demand panel discussion, “New Utility Models for Augmenting Shrinking Revenue”.
- Tracy Carlson, Director, SMUD
- Christopher Moyer, Senior Director of Research, Zpryme
- Rob Gilpin, Director of Business Development, American Homeowner Services
Recording Link: https://www.youtube.com/watch?v=FBNcEfAi_yI&feature=youtu.be
Also moderated by James Riley, Part 2 features input from our panel sponsor, Bashir Bseirani, CEO of Avertra, along with:
- Brett Reynolds, Vice President, First Energy
- Chris Lefebvre, CEO, CRC
- Mark Wilkinson, Senior Vice President, Ibex
Recording Link: https://www.youtube.com/watch?v=YmhPXPFq-9o
Yes, revenue and customers are a top concern for utility professionals, but there are resources for helping utilities figure it out.