Five global megatrends are forcing electric utilities to rethink the way they do business

Summary: Electric utilities around the world are expected to be greatly transformed by deregulation, climate change, the rise of renewable energy, new technologies, declining populations, and changing user needs. The transformation will eventually see the power grid’s integration with industries such as water, gas, transportation, among others, which ultimately could mean better service. A factor driving the changes is the need to reduce greenhouse gas emissions. Electricity and heat production is among the biggest sources of emissions, which is why energy producers have been adding more renewable sources such as solar, wind, geothermal, hydropower, and biomass into their power mix. Technology and changing demographics and user needs will also change utilities. Now that technologies can better track customers’ energy consumption, utilities will be able to predict when it is highest and ensure supply during those times. Utilities’ transformation will come in three waves. Read the transcript https://bit.ly/2Lg4AWG Watch the related video https://bit.ly/2ORTd9g About the speaker Hiroshi Okamoto is executive vice president of Japan’s Tepco Power Grid. Know more about ADBI’s work https://bit.ly/2Bsqbvp https://bit.ly/2zmmNQr