While enterprises across a wide range of industries are embracing digital transformation to improve customer experience and service delivery, the utilities sector has been a slow adopter.
Utilities today face new challenges on a constant basis. The push toward renewable energy coupled with increased rate regulation has made it virtually impossible for traditional utilities to compete. This has drastically impacted margins, as high operating costs remain static while the number of paying customers declines. Utilities also must consider how the weather patterns, capital expense vs. operating expense financial treatment rules, and the use of disruptive technologies impact their operations. Digital technologies may be the answer to ease these economic pressures and drive operational efficiency.