Regulated utilities are in the business of playing it safe, and for good reasons. The services they offer—electricity, natural gas, and water—are non-negotiables in North America. If not handled correctly, they can be lethal. As a result, regulatory bodies exist to ensure that they are offered to everyone—regardless of demographics and geographic location–in a manner that is secure, reliable, and affordable, with no threat to human life (utility table stakes).
Innovation, on the other hand, is usually seen as risky. By definition, risky is full of the possibility of danger, failure, or loss, outcomes that aren’t acceptable for utilities. But not all innovation needs to expose the utility business to dangerous risk. Identifying safe spaces to innovate is the name of game, a topic that panelists take on during the on-demand PowerSession, Innovating in Highly Regulated Environments.
- How and where to create safe spaces within the utility enterprise with no threat to utility table stakes – Jody Allison, Algonquin Power & Utilities
- How to build a center of innovation and who to engage – Josh Gould, Duquesne Light
- Lessons learned building a regulated insurance company for Tesla – Alexander Tsetsenekos, Cyberfortress & Former Tesla Executive
- Advice with communicating innovation initiatives to diverse groups such as internal stakeholders, regulators, and customers – Robert Conrad, RKC Consulting & Georgetown University
“Our panelists provided so many rich and implementable insights,” says session moderator, James Riley, “Including a proven, end-to-end innovation process for innovating within an organization. Attendees won’t want to miss this session.”
Through a partnership between the Utility 2030 Collaborative and Energy Central, readers are invited to listen to the PowerSession on-demand, creating an account and post questions tagging them, and register for part 2, “Playing Nice with Regulators,” for a continuation of the conversation.