P R E S E N T S
24
| 12TH - 18TH APRIL 2019 | UTILITY WEEK
The threat of renationalisation,
aligned with what looks to be a
tough price control, is causing
companies to review their business
fundamentals II
ADAPT AND THRIVE
How will the uptake of EVs and the
prolifera on of home services impact on
u li es? And what other new services are in
the pipeline as energy and water fi rms look
to diversify and capitalise on the changing
landscape? For our fourth report in the
build up to U lity Week Live on 21-22 May,
Nadine Buddoo looks at changing business
models.
ith compe on increasing and the market share
of the big six slipping, energy fi rms are being
forced to respond to an increasingly challenging
market. The emergence of new technologies,
evolving customer demand and the need to drive fi nancial
performance has wide-ranging implica ons for energy and water
companies alike. U li es are being compelled to examine their
business models and determine how they will prepare for future
challenges amid present uncertain es.
In a recent survey conducted by Insight Advantage for U lity
Week Live (UWL), compe ve pressures and changing consumers
habits are likely to have the biggest impact on the transi on
of u li es. Rated on a scale of 1 to 10, respondents believe
compe ve pressures will increase from 6.4 currently to 7.0 in
fi ve years. Similarly, the evolving role of the consumer will shi
from 6.1 currently to 7.4 by 2024. Other major areas likely to
impact u li es include changing policy and regula on (6.1 to 7.2),
sustainability considera ons (5.7 to 7.1) and big data (5.6 to 7.1).
And it is clear that most businesses expect the eff ect of these
trends to intensify over the next fi ve years. On average, the
impact of industry trends is expected to be 23 per cent higher by
2024, according to the survey.
