This report summaries PwC's point of view on the future evolution of the electricity sector in Australia. It was launched at the 2014 Energy Networks Association conference on 30 April 2014.
According to the report, the utility of today is outdated and is struggling to meet the needs of its customers while maintaining acceptable returns to shareholders. The so-called 'death spiral', where consumption falls and tariffs increase, is a prime example. Traditional large scale power utilities are losing relevance as customers take greater control of their own energy supply and demand.
To survive and prosper the 'utility of the future' will have to provide much more than reliable energy supply - it must respond to a diverse range of customer, business and community demands and do so in a rapidly changing regulatory and technological environment. The utility of the future is unlikely to control the value chain but will need to enable or facilitate customer energy solutions - they will become 'energy enablers'.
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