Innovation and the Next Generation Utility

In this paper, we explain how utilities will be better positioned to participate in the Dynamic Energy system if they focus on three key competencies: Business Model Innovation, Technology Innovation, and Cultural Innovation. The benefits of taking this three-pronged approach to innovation are clear. Doing nothing will lead to further declines in revenue and a loss of market share to third-party energy providers. Developing an innovation strategy – either company-wide or within specific teams – means opening up entirely new business lines and service models that will enhance the utility’s reputation and grow earnings.

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