Today, digital is transforming the way power and utilities companies … One of the greatest risks utility grids face are cyber-attacks. However, new revenue models and sources, as well as opportunities of process improvement from various possible angles are universal across the utility chain. For utility firms the challenge is not just to review, optimize and transform existing processes and business models. Digital transformation has created new potential and possibility for the future of power consumption to make systems run more sustainably and simply. Driven by sustainable environmental needs, the emergence of prosumers and the evolution of technology, the water utility industry is on the verge of one of the largest digital transformations in its 100+ years of existence. The Blueprint is a design for a secure modern desktop for government agencies based on Microsoft 365. The first iteration of the Blueprint was launched by the Protected Utility Program in March 2020 and was developed in partnership with Microsoft and independent security assessors. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. © 2020. The pandemic forced utilities to veer away from traditional ways of conducting digital twins enabling to build replica of assets in the cloud for optimization of design, engineering planning, maintenance and so forth, de facto needing a range of other technologies, including mentioned ones such as IoT and artificial intelligence) – the graphic below shows some forecasts in that regard (and on how these technologies will be used from the mentioned IDC top 10 worldwide utilities predictions 2019. In general, operations involve allocating, scheduling and deploying a variety of personnel, equipment, tools and vehicles that ensure a utility… Communications providers are investing an estimated $2 trillion in 5G and other connectivity technologies over the next five years. System of engagement ArcGIS integrates all types of data, gives all users access to the data they need for better collaboration, and supports digital transformation. Given the importance of the utility industry (critical), cybersecurity is at least as essential. There are many players in the utility chain so the challenges, evolutions, technologies and transformations are not the same for all components of that chain. COVID-19 has presented the power and utilities industry with a unique opportunity to shift from an “old school” mindset to one of innovation and customer centricity. The company sums up the business imperatives, challenges and solutions in three segments: The infographic and where digital technologies, the digital landscape and transformational initiatives fit in, speaks for itself so check it out. We embed benchmarking on several essential business processes in the assessment to quantify tangible performance results. Fast forward to today and, while still laser-focused on reliability and affordability, the power and utilities sector appears to be morphing into an increasingl… When conveniently used, AMI can help utilities take their digital transformation to the next level. More about security in the utility industry in the article on the utility industrial control systems security report. Implementing the Roadmap to Recovery: The roadmap to recovery is a strategic plan for the navigation of Covid-19 and beyond, aiming to increase activity across the utility … For example, the digital transformation of utilities can improve the efficiency of power generation and the transmission and distribution of electricity, all while providing consumers with more capabilities … Let’s create a plan today. Digital utilities stand to reap big rewards by improving processes, increasing understanding of the customer, empowering employees, boosting security, and mitigating risks. Why Utilities Need Digital Transformation Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams It's easy to assume - looking at industries like media, retail, … How the Program supports agencies All of this accelerates decarbonization because less fuel is needed to produce the same amount of power. Jian Wei is a principal leading digital transformation in Deloitte’s Power and Utilities practice. Becoming a digital utilities organization demands more than adopting or exploring the latest technologies. Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. Field workers are facing operational, organizational and digital disconnections due to an aging workforce and changing job expectations, spurring the need for a digital transformation in utilities… Share. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. The article also states that only a … Increasingly, digital is becoming the foundation for most business applications. The changes ahead bring new complexities and new potential value—and force utilities to up their digital capabilities. Digital Utilities Maturity Assessment: The starting point of the digital transformation journey is an assessment of the Utilities current maturity on the digital agenda. ArcGIS gives utilities a complete data model, providing ease of editing, expanding connectivity capability, and scaling to any size. The utility industry traditionally was a rather slow mover in technology adoption but is challenged to be a fast mover when it boils down to digital transformation and the adoption of specific technologies to enable the smart infrastructure, processes and data it needs to be future-proof as competition increases, customer demands change and the industry is in full flux. The 2020 Human Capital Trends focus on answering a paradoxical question: Can organizations remain distinctly human in a technology-driven world? Microgeneration and microgrids could change the game for corporate and college campuses, and their power and utility providers. Common business goals include improved … Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. There are of course more technologies and digital evolutions in the utility industry whereby we find more ‘traditional’ technologies (cloud, for example) and more advanced ones (e.g. Forces such as rising customer expectations, evolving technologies, growing competition, increasing regulatory pressures, and aging infrastructure are driving gas, water, and electricity providers to become digital organizations. How will you embed a truly digital mindset and digital work into all your activities and operations—strategic planning, budgeting, process improvement, employee development, mergers and acquisitions, third-party relationships, customer engagement, and beyond? We found plenty of uncertainties, but four scenarios clearly emerged based on our research. A digital transformation can help water utilities to become more energy-efficient, less labor-intensive, more compliant with regulatory directives, and allows for streamlined communications among departments. Digital Transformation for Power Utilities Projects. The Future of Utilities: Powered by Connectivity. When looking at the broader utility industry ecosystem, it’s important to break up the “chain” and see the various challenges and opportunities per element of the value chain as energy, water etc. Reid is the leader of Deloitte's US Consulting Energy, Resources & Industrials Industry practice. Digital transformation efforts often founder on the sheer complexity of using technology to increase a company’s speed and learning at scale. To view this video, change your targeting/advertising cookie settings. By 2022, 20% of digitally determined utilities… One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. Data science coupled with technologies such as smart meters, for example, can offer new data-driven insights into your customers, their consumption, energy efficiency, and behaviors. In the face of rapid evolution of technology, the utilities industry is under special pressure to adopt innovations. Customer experience transformation requires organizations to make decisions based not only on business and shareholder value, but also on value created for customers and communities. Read more about the digital transformation This disruption is already visible in markets worldwide: Various utility startups have transformed the industry’s landscape by introducing unique, cutting-edge solutions to markets that are longing for change. See Terms of Use for more information. It is to find completely new ways to conduct their business. Long-term success comes from a more focused approach, harnessing digital capabilities to meet the challenges that utilities … Utilities executives are accustomed to thinking large and long-term. Common business goals include improved interactions with customers, more streamlined operations, greater efficiencies, and hopes of triggering new business models. With the added strain of the COVID-19 crisis further stretching municipal budgets, creating remote workforces overnight, and introducing a new level of uncertainty, it’s imperative that IT leaders of public utilities take a hard look at systems and processes to begin the process of digital transformation now. Today, digital is transforming the way power and utilities companies operate—how they create value, serve customers, manage costs, optimize processes, and capture new market opportunities. The energy and utilities industries are undergoing a dramatic shift driven by rising stakeholder and customer expectations, increasing economic, and political uncertainty, and emerging new technologies. The focus was on how to start down the path to digital transformation… The digital transformation journey. As consumers evolve and have an ever growing need for connectivity, the electric utilities industry is in a unique position to harness the power of connectivity. Reduced waste Cloud computing is changing the way organizations are doing business. According to an article in one of the premium publications, only one in ten pursue digital transformation outside of pressure from regulators, customers, or competition. What will that future of energy look like? Digital transformation has created new potential and possibility for the future of power consumption to make systems run more sustainably and simply. Do you know and understand your organization’s digital DNA—the core traits that can help you operate and innovate in the future, such as your ability to collaborate intentionally, “democratize” information, and operate with morphing team structures? Increasingly, digital is becoming the foundation for most business applications. What are you doing to take advantage of these new technologies and stay ahead of the pack? Electric, gas, and water utilities are investing in digital technologies to improve in areas such as operations, regulatory compliance, reliability, safety, and customer satisfaction throughout their organizations. Namely … In this Energy, Resources & Industrials (ER&I)–specific report, we’ll explore these trends from the lens of each of the industry’s sectors. And how will your digital utility incorporate the Internet of Things (IoT), in-memory computing, analytics and cognitive tools, augmented/virtual-reality capabilities, and wearables to revolutionize business processes? Digital Transformation in utilities and construction is no longer a luxury or an afterthought. The challenges utility firms face are diverse. This third article on digital transformation for utilities will discuss applications of digitalization at the heart of any utility. Get your Free Digital Adoption … Explore how digital transformation within the financial close process helps these organizations take advantage of these opportunities. Ultimately, how will your organization become more agile than it is today, and how will it stay agile? Digital transformation in the utilities industry is going to the next level. Its main goal was to keep the lights on without breaking the bank. The Consumer Council for Water (CCWater) … One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. No utility executive should be thinking about measuring the success of digital transformation by the number of mobile developers hired, scrum masters trained or dollars invested. The pandemic forced utilities … As part of its digital transformation, a leading competitive energy retailer is re-organizing around customer journeys in order to break down channel-based siloes and to foster collaboration. A few of the drivers of digital transformation within the utilities industry include: Leveling out power demands, thus reducing peaks and valleys, which requires smart meters, combined with the Internet of Things (IoT), to gather near-real-time consumption data. Digital transformation: focus on the utilities industry Among the industries facing big challenges and having tremendous opportunities in digital innovation and transformation is the utilities industry. Ongoing business disruption, data growth, and the decarbonization trend are putting businesses to the test, but utilities today stand on the edge of something big: a new era of opportunities and previously unimagined outcomes. The commercial model is also one example of how utility companies need to and can go beyond optimizing “what is” but truly review business models, for instance with alternative pricing models. So, let’s look at some of the technological evolutions playing a crucial part in the utilities industry. Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams. Read these about these 3 key areas. Digital Transformation in utilities and construction is no longer a luxury or an afterthought. Please enable JavaScript to view the site. US Energy, Resources & Industrials Industry Leader, Telecommunications, Media & Entertainment, Activate the digital utility with Deloitte, Organizations that are ‘walking the talk’. The disruption of COVID-19 has accelerated digital transformation in almost every industry. Digital transformation in the utilities industry has lagged in no small part because of a generational technology clash. Read on for the top benefits to digital transformation in the utilities industry. Digital Transformation of Current Back-End Processes The power and utilities industry can only successfully become more customer-centric once they have optimized back-end processes. Discover Deloitte and learn more about our people and culture. Implementing the Roadmap to Recovery: The roadmap to recovery is a strategic plan for the navigation of Covid-19 and beyond, aiming to increase activity across the utility and construction sectors and accelerate adjustment to the ‘new normal’. are such complex ecosystems. Among the industries facing big challenges and having tremendous opportunities in digital innovation and transformation is the utilities industry. Over the last decade, digital transformation has accelerated. Data collection is just the first step. While solid and dependable, the sector wasn’t generally considered cutting-edge, innovative, or exciting by any stretch of the word. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Digital transformation in the utilities sector is the process of adopting new digital ways of working, often with a business goal for utilities to reinvent themselves. The presentation focuses a lot on the customer experience, as often mentioned today de facto a key driver in the bigger digital transformation picture. For example, the digital transformation of utilities can improve the efficiency of power generation and the transmission and distribution of electricity, all while providing consumers with more capabilities and choices around their energy use. Combining device level data with the ability to orchestrate work in an end-to-end fashion will connect the silos between data and action in the utilities industry. Digital transformations are difficult: Bain’s data shows they are significantly harder than conventional change management programs, with only 5% of companies reporting they had achieved or exceeded … And remember, once your digital programs have started, these benefits become ongoing characteristics that you can improve and grow. Amidst the rapid digital transformation sweeping across utility companies, CIOs are often caught between reconciling legacy and new systems, faced with … change your targeting/advertising cookie settings. Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. Along with the complexity of the utility value chain and fast-evolving evolutions thinking ahead and grasping the benefits of “new technologies” is key in this extremely competitive and sensitive market with many fluctuations in the broader ecosystems. Are you looking at talent needs and the future of work through a digital lens—or the same old lens? DTTL and each of its member firms are legally separate and independent entities. A podcast by our professionals who share a sneak peek at life inside Deloitte. Smart power generation with advanced monitoring and controls, as well as smart transmission and distribution, likely will be widespread in tomorrow’s environment. As in all industries, end-to-end process automation is a core catalyst for digital transformation with connected devices, consumers, operations, and utility … In the last 10 years across the utility industry, no one in the C-suite has been under more scrutiny than the CIO. Peter Peters, Partner addresses how power and utility clients can bring digital transformation … By adopting a holistic view of inventory management. Changing customer demands rule all. Digital transformation in utilities: the rise of connected workers. Most leadership teams understand the … How will you survive—and thrive—in a dynamic digital future? Among the (really many) challenges facing the utilities industry overall (and making abstraction of regional differences): The graphic below summarizes just a few of the mentioned challenges. To begin, they must develop a digital transformation strategy that can be successfully embedded and … Please see www.deloitte.com/about to learn more about our global network of member firms. Projects that were languishing were suddenly boosted to the top of the management priority list. Start your utilities digital transformation journey to help improve efficiency and lower costs across your entire enterprise. However, today utilities only thoroughly analyze, on average, about 10 percent of the data they collect (2015 CIO Forum). This third article on digital transformation for utilities will discuss applications of digitalization at the heart of any utility. As consumers evolve and have an ever growing need for connectivity, the electric utilities … Essential ingredients for transformation include: How will you deploy technologies such as blockchain or robotic process automation (RPA)? And clearly, older systems are out of step with the priorities (and … By 2035, organizations in every industry will be dealing with a vastly different energy landscape. For more than 20 years, Ben has demonstrated success delivering large, complex business t... More, Powering change in the utilities industry. End-End integration of sensors/assets, enterprise systems to help transform from a traditional utility provider to a digital player Together, big data, Internet of things (IoT), artificial intelligence (AI), machine learning (ML), augmented reality (AR), virtual reality (VR), and other revolutionary technologies offer the promise of a brighter future for energy and utilities companies. The digital transformation will have a great impact on consumers and I think it is very important to ensure that any change comes with a communication strategy to convey the effects of the digital transformation to all 'digital' stakeholders, including consumers, workers, regulators, ecosystem actors, etc. Becoming a digital utility requires your entire organization to undertake a transformational journey in which your organization becomes a digital enterprise—a journey to be digital, not simply do digital things. Enhancing security. ArcGIS gives utilities a complete data model, providing ease of editing, expanding connectivity capability, and scaling to any size. Digital transformation isn’t a once-and-done operation and, as 2020 has demonstrated so well, priorities can change in an instant. “‘Digital Water: Industry Leaders Chart the Transformation Journey’ leverages the insights of IWA members to help utilities learn from their peers, harness the power of digital technologies and enable communities around the world to become more water-secure,” states Kala Vairavamoorthy. Emerson’s Juan Panama and Mark Jordan presented on building the utility of tomorrow, today at the 2019 Ovation Users’ Group conference. In another decade, our daily work and personal lives will be infused with digital operations. The Protected Utility Blueprint. The Consumer Council for Water (CCWater) allows retailers to submit complaints on a monthly basis, which helps the council to identify and solve problems with non-domestic water supply. We added an graphic below with an overview of the six major and most pressing industrial control systems risks for the utility industry as ABI Research identified them. April 10, 2018. Digital transformation in utilities: the rise of connected workers. Digital transformation ahead To realize these digital opportunities, utilities need to transform operations. Digital Transformation in utilities from around the world Thames Water adopted remote asset monitoring to anticipate mechanism failures and respond in real time. Thepower and utilities sector was traditionally where many parents or grandparents parked their savings as they got older, attracted by low volatility and stable returns. For more than 20 years, Wei has directed high-impact engagements from strategy through execution, working at the intersection of innovation, digital technologies, operations, and organizational maturity. It requires shifting the way your business operates—to activate a truly digital enterprise that can continuously redefine what it offers and how it delivers. System of engagement ArcGIS integrates all types of data, gives all users access to the data they need for better collaboration, and supports digital transformation. Share. The industry is built upon billion-dollar infrastructure projects, from power plants to natural gas pipelines, that are designed to last for decades or longer. Why Utilities Need Digital Transformation. Read more about the digital transformation This disruption is already visible in markets worldwide: Various utility startups have transformed the industry’s landscape by introducing unique, … How can utilities address carrying cost and regulatory lag? To expand the capabilities of their current assets while preparing for the infrastructure of tomorrow, utilities are beginning to undergo a full digital transformation that includes changes to … How are utility companies planning their journey to become a truly “Digital Utility”? Digital Disruption – Water Utilities 2019. Accenture did a tremendous effort in this regard and summarized it all in a great infographic on the “digital utility”. Certain services may not be available to attest clients under the rules and regulations of public accounting. "Digital transformation efforts have become a high priority for many utilities. April 10, 2018. Enabling Digital Transformation in the Utilities Industry Delivering Visibility Without Borders for security, network, and application assurance across traditional data centers and multi-cloud environments. For more than 25 years, Reid has specialized in the delivery of business and technology enterprise tra... More, Ben is the leader of Deloitte’s US Consulting Power, Utilities & Renewables practice, Deloitte Consulting LLP. Field workers are facing operational, organizational and digital disconnections due to an aging workforce and changing job expectations, spurring the need for a digital transformation in utilities. This box/component contains JavaScript that is needed on this page. augmented/virtual-reality capabilities, and wearables, Digital transformation in the energy & utilities sector, A power and utilities perspective: Tech Trends 2019, A power and utilities perspective: Human capital trends. Tomorrow’s digital utilities will foster innovation by engaging in constant exploration and discovery—with the understanding that innovation often occurs in unproven or unknown domains. For the Power Utilities industry, there are two key factors driving the move toward digital technologies. 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