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Transforming the Utilities Industry Through Digital Technologies
Electric, gas, and water utilities are facing regulatory pressures. For example, governments expect gas and electric utilities to support global sustainability and energy transition goals. They also require water utilities to ensure water quality and availability. While an increasing number of electrical customers also become energy producers, their expectations have changed. Furthermore, utilities are facing growing challenges in terms of skilled worker shortages, high investment and maintenance costs, and heavy asset losses due to the rising number of natural disasters. To address these issues, utilities globally are investing in digital technologies to transform their day-to-day operations, enable predictive maintenance, reduce human dependency, automate repetitive and tedious tasks, and reduce costs. These emerging trends are covered in Avasant’s Utilities Digital Services 2022–2023 RadarView™.
Utilities Digital Services 2022–2023 RadarView™
The Utilities Digital Services 2022–2023 RadarView™ can help enterprises craft a robust strategy based on industry outlook, best practices, and digital transformation. The report can also aid them in identifying the right partners and service providers to accelerate their digital transformation. The 85-page report also highlights top market trends in the utilities digital services space and Avasant’s viewpoint.
European IT Spending and Staffing Benchmarks 2021/2022: Chapter 9: Energy and Utilities
Chapter 9 provides benchmarks for public utilities, oil and gas producers, service companies, and midstream distributors across all organization sizes. The 14 respondents in this sector include public utilities (water, gas, and electric), integrated energy companies, upstream exploration and production companies, natural gas companies, pipeline operators, and other energy and utilities companies. The companies in our sample range in size from a minimum of about €100 million to about €14 billion in annual revenue.
Utilities Digital Services 2020-2021 RadarView™
The Utilities Digital Services 2020-2021 RadarView™ report addresses the need of Utilities to understand the right action points to navigate through the challenges, realize digital transformation, and gain competitive advantage. This 92-page report also identifies the key global service providers and system integrators that can help Utilities in business transformation. The report also highlights the key trends in the market and Avasant’s view on the road ahead for Utilities over the next 18-24 months.
Crossroads of the Utilities Sector Business Model
With an eye on the future, digital transformation offers Utilities the opportunity to be more efficient, responsive and innovative in delivering services. Digital transformation also provides improved customer engagement on mobile, social and web interfaces. This enables better two-way communications that lead to customized rate plans, products, and services based on customer usage, resulting in improved data management and analytics leading to higher operational efficiencies in the generation, transmission, and distribution. The industry is likely to witness a significant transformation which will eventually serve the best interest of both the consumer and the Utilities industry.
Transformation in the Utilities Sector Is a Requirement, Not an Option
Read Avasant’s "Transformation in the Utilities Sector Is a Requirement, Not an Option" article to find out how Utilities industry, that has typically had difficulty in adapting to rapid changes, can both culturally and technologically, address these challenges.
IT Spending and Staffing Benchmarks 2019/2020: Chapter 10: Energy and Utilities Sector Benchmarks
Chapter 10 provides benchmarks for public utilities, oil and gas producers, service companies, and midstream distributors across all organization sizes. The 23 respondents in this sector include public utilities; water, gas, and electric utilities; integrated energy companies; upstream exploration and production companies; natural gas companies; pipeline operators; and other energy and utilities companies. The companies in our sample range in size from a minimum of about $50 million to more than $26.8 billion in annual revenue. [Full Study Description]
IT Spending and Staffing Benchmarks 2018/2019: Chapter 10: Energy and Utilities Sector Benchmarks
Chapter 10 provides benchmarks for public utilities, oil and gas producers, service companies, and midstream distributors across all organization sizes. The 23 respondents in this sector include public utilities; water, gas, and electric utilities; integrated energy companies; upstream exploration and production companies; natural gas companies; onshore and offshore field services companies; pipeline operators; and other energy and utilities companies. The companies in our sample range in size from $87.9 million to more than $26.8 billion in annual revenue. (80 pp., 51 fig.) [Full Study Description]
Meet the Big IT Spenders: Energy and Utility Companies
Irvine, Calif. – Companies in the energy and utilities sector, already moderately big spenders on IT, plan to increase their IT operational spending this year at a rate faster than other sectors, according to the annual Computer Economics IT spending and staffing study.
Comparative Analysis of IT Spending by Energy Utilities
Gas and electric utilities make considerable investments in information technology. In this study, we take a special look at IT spending and staffing in the utility sector by comparing key, high-level metrics against a broad sample of organizations. For the comparative analysis, we use three measures of IT intensity: IT spending as a percentage of revenue, IT spending per user, and application spending per user. To determine where spending differs, we break down IT spending into five functional areas: IT management, applications, data center, network, and end-user support. We also examine IT staff headcount by those same functional areas. (14 pp., 6 figs.) [Research Byte]
IT Spending and Staffing 2008/2009: Chapter 16, Utilities and Energy Sector Benchmarks
Chapter 16 provides benchmarks for utilities and energy companies across all organizational sizes. Respondents in our study this year include oil and gas producers, midstream oil and gas suppliers, power generators, gas and electric utilities, and other energy and utilities companies. The benchmarks provided in this chapter are the same as those in Chapter 2 (Composite Benchmarks). (62 pp., 41 figs.)[Full Report Description]
Holding IT Accountable for Energy Costs
Rising energy costs are creating new pressures on IT managers to lower the amount of energy consumed by data centers. Yet, surprisingly, nearly half of IT organizations are not held accountable for energy costs in their IT budgets. This article analyzes current practices in IT budgeting for power and cooling costs, looks at two key concepts for assessing the return on investment from more energy-efficient data center technologies, and suggests ways in which IT mangers could actually benefit from having utilities charged to the IT budget. (4 pp., 4 figs.)[Executive Summary]
IT Contractor/Temp Use Falls Dramatically in Utility Companies
Although most industries have experienced a significant decrease in the use of IT contractor/temp personnel, utility companies have been more aggressive than most in pulling in the reins on this spending category.