Energy transformation is a reality: demand volatility, investment and affordability, cleaner energy, smarter energy, the changing role of the consumer - all of these components add to a new power and utilities market structure that drives companies' strategies. This will not happen tomorrow - it is happening now. The question is how this changing environment will impact the future model of power and utilities companies, from their assets to industry technology, regulation and customer engagement.
The energy industry requires long lead times for new projects, and even though the current global economy is struggling, the world’s population continues to grow. With this growth, energy demand will increase. Weighing the risks versus benefits of new projects, new products and how much capital to invest, oil and gas companies also have to consider regulatory, safety and environmental concerns. Balancing the need to supply the world’s energy needs with fossil fuels, companies are also looking at investments in alternative energy sources, including unconventional fuels such as biofuels, renewable energy sources, and ways to improve energy efficiency.
PwC works with our power and utility clients to help them deal with disruptive business challenges, to transform their businesses, grow their revenues and reduce costs. We help utilities develop new strategies, build new operating models, create new organisations and new ways of managing to deliver superior customer and investor value. It is this work that inspires our power and utilities team and drives us to deliver more innovation and more value for our clients.