utilities and innovation

2019 In response to the COVID-19 pandemic, utilities have accelerated a number of digitalization and innovation efforts to improve the customer and employee experience. In this transformative age, as convergence alters the rules and the energy marketplace becomes more demanding and dynamic, utilities need to ask themselves whether they are taking the bold steps needed to embrace change now. have United Utilities Innovation Lab Programme Highlights. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. As utilities rethink their innovation models, the ability to create and strengthen human connections, which may need to be virtual for the time being, is a key to creating value. and Each year, CGI leaders meet with business and IT executives around the globe to learn about the key trends affecting their organizations. Lines and paragraphs break automatically. of The NRC regulates commercial nuclear power plants and industries that use nuclear materials through licensing, inspection and enforcement of its requirements. This was an incredible achievement and a force multiplier in improving the quality of life for our citizens. At the same time, with the recently released long-range Chevrolet Bolt, the soon-to-be-r… 58% of survey respondents perceive their individual company cultures as conducive to innovation and 60% say those cultures can maintain their zest for change and transformation even when under duress. As irreversible change takes place in the utility industry, companies are turning to digital technologies and a more innovative mindset. findings ... We focus on energy saving through new innovations and efficiency improvement. Utilities face a tough challenge when it comes to infusing innovation into the way they work. While utilities’ focus on safety has increased significantly, from 29% over the last five years to 45% today, their focus on innovation is much lower and has decreased over the same period from 10% to 7% respectively. Our analysis of the survey findings reveals a common thread. A majority sees their company culture as conducive to innovation and thought diversity. While many public and private utilities have also embraced an institutional culture of innovation (some of them even have departments and full-time employees exclusively working on innovative processes for treatment as well as best practices for conveyance systems), the majority of them — particularly smaller utilities — are in need of the aforementioned cultural shift. For more information on the results of the survey conducted for CGI by energy research firm Zpryme, along with CGI’s analysis and recommendations, please contact me. find Interestingly, 51% of survey respondents say individual business departments control and monitor process change and 58% say that the IT department controls and monitors technology change. The cultural focus on safety has grown, while the focus on innovation has lessened. well-being Utilities are on a countdown to reinvention because an irreversible change in the utility ecosystem is nearly upon us. In this blog, Peter offer recommendations to help utilities build a digital future that’s better than the old normal. January 2021 will see the launch of the third United Utilities Innovation Lab, building on a successful partnership with the water and wastewater company which goes back to 2017.. © 2020 EYGM Limited. Will your digital investment strategy go from virtual to reality? also What elevated levels of political risk mean for business in 2021. to Overview of ISGF Innovation Awards. Yet, survey respondents say operational improvements are the biggest driver of innovation (33%). WHA Utilities and Power Public Company Limited is an integrated utilities products and services providers and active power investor with strategic partnership with reputable Thai and international operators. In this blog, Jean offer recommendations to accelerate digitization to deliver growth, strengthen market position and build resilience. Utilities are threatened by innovation at the "distribution edge" of the grid. community Innovative Utilities (UK) Limited are wholly owned private company a are the trading name for provision of utilities and civil engineering works in the UK. partner AWWA, WEF, AMWA, NACWA, WSAA. To become a utility member of the Leading Utilities of the World, a utility needs to demonstrate outstanding innovation in at least three areas of utility management (referred to here as 'innovation areas') and have an ambition to continue to drive performance in the years to come. Leaders Emerging technologies will play a crucial role, and utilities must harness their capabilities to seize the opportunities presented by the new energy world. While utility culture generally promotes innovation, business constraints keep them from moving forward. In this blog, Peter offer recommendations to help utilities build a digital future that’s better than the old normal. Utilities also must invest in employee skills to drive innovation as a team. Utilities need to innovate and transform their businesses to handle the unprecedented disruption across the sector. Many utilities struggle to overcome the illusion that all failure is bad. The Water Innovation Network for Sustainable Small Systems is led by the University of Massachusetts Amherst with six affiliated research organizations. embracing remember settings), Performance cookies to measure the website's performance and improve your experience, Advertising/Targeting cookies, which are set by third parties with whom we execute advertising campaigns and allow us to provide you with advertisements relevant to you,  Social media cookies, which allow you to share the content on this website on social media like Facebook and Twitter. Electrification of the nation and our society was ranked as the No. 62% believe they have strong diversity of thought within their organizations. Recommendation: Promote a culture that fosters human connections (e.g., with customers, between teams and business units, and among employees). to 2. Newspapers were still produced in a factories in the middle of the night, loaded onto trucks before the morning rush-hour, and then entrusted to 10-year-old boys for delivery. 5. not Across utilities, we’re helping transform companies to continuously adapt and improve outcomes through innovation. Some of the current research efforts at WINSS include studying the use of ferrate for disinfection, research on electrodialysis with nanofiltration, and developing a mobile application to assist small systems with asset management. Implementation barriers to new ideas are budget (62%), resources (59%), and lack of time (40%). to The consequence is that innovation happens in silos and does not create the expected outcome. with 68 Utility Partners. In this blog, Andy provide six recommendations for driving greater results from digitization in retail banking based on our 2020 CGI Client Global Insights. However, this doesn’t mean an idea will result in a meaningful change. While electric vehicles still represent a small fraction of vehicles on the road today, researchhas shown that it takes relatively few EVs on one distribution feeder to have a significant effect on the overall performance of the grid. women Each year, CGI leaders meet with business and IT executives around the globe to learn about the key trends affecting their organizations. challenges. 2015. Consulting // Systems integration // Outsourcing // Business solutions. how ... Digital This state of affairs cannot continue. ... CGI On Thursday 22nd October 2020, Bill Identity (Bid) was recognized as the winner for the ‘best digital innovation that focuses on improving customer outcomes and experience.’ today's AWWA, WEF, WSAA, WE&RF. Recommendation: View innovation as intrinsic to the entire enterprise. Eight key disciplines for innovative utilities can be distilled into three primary elements: Impact, Capability and Engagement. As a result, stakeholders are looking for tools and programs to leverage EVs as a grid asset rather than a liability. transformation, The Digital Utility Awards are a unique celebration of the people, projects, and organizations at the forefront of digital utility transformation. EY | Assurance | Consulting | Strategy and Transactions | Tax. sustainability While solid and dependable, the sector wasn’t generally considered cutting-edge, innovative, or exciting by any stretch of the word. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Following is a summary of our findings, along with recommendations for sparking and sustaining innovation in utilities. Published Utility Innovation Framework and Launched Campaign. In this blog, Andy provide six recommendations for driving greater results from digitization in retail banking based on our 2020 CGI Client Global Insights. And many struggle to run an organization that can focus both on agility and reliability.” This is the message from the Utility Innovation Blueprint report, a collaboration between Oracle Utilities and Navigant Research. Innovation decisions often are made at the department level. Please refer to your advisors for specific advice. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. working UK Industries Innovation Lab — Oracle Utilities. Utilities have a genuine opportunity to build on the innovation momentum begun in response to the pandemic, and continue to transform for the energy transition. Culture also is a main contributor to the success of change management initiatives and is the primary reason half of respondents (53%) consider these initiatives to be successful. Utilities based outside North America dominate absolute R&D and innovation spending, filling eight of the top 10 GT40 rankings. In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. from ... Digitalization, decentralization, and decarbonization are powerful forces for change in utilities. While innovation is more complex now, it is an imperative for successful transformation initiatives. Ensuring innovation provides sustained results at scale and are aligned with business needs also requires establishing clear KPIs—with a proven framework to ensure those KPIs are measured and tracked, with regular reviews at all levels of the organization. November 16, 2020 Digital Utility Group. The only improvement was that they now boiled some of that water with nuclear power. Tara EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. The Innovation Engine A Framework for Utility Innovation. the EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. the Launched Development of Innovation Framework with 25 Utilities. are CGI's Improving business agility in unprecedented times, Industry 4.0 and cybersecurity: How to protect your business against cyber risks, Transforming trade through hybrid blockchain solutions, CGI-sponsored GTNews survey reveals major challenge for corporate banks—declining client satisfaction (part 1), Data monetization: driving the new competitive edge in retail, Solving data challenges to accelerate the energy transition, Women in tech: Better the balance, better the world, Tech for Good: CGI in Our Local Communities, Blog moderation guidelines and term of use, CGI Client Global Insights: Five ways manufacturers can balance efficiency and resilience to lead in a new digital era, CGI Client Global Insights: Six ways retail and consumer organizations can accelerate their digital journey, CGI Client Global Insights: 7 ways utilities can build a digital future that’s better than normal, CGI Client Global Insights: Six ways retail banks can accelerate their digital journey, Nuclear regulator works with CGI for COVID-19 response. In this blog, Jean offer recommendations to accelerate digitization to deliver growth, strengthen market position and build resilience. For 30 years, he has provided a broad range of technical expertise, business strategy, and operations acumen. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. Emerging technologies will play a crucial role, and utilities must harness their capabilities to seize the opportunities presented by the new energy world. ... Technical The mission of this group is to bring together utility professionals in the power industry who are in the thick of the digital utility transformation. The empirical study is carried out on a panel of 82 Spanish electricity, gas and water utilities over the period 2005-2012 (Technological Innovation Panel dataset (PITEC)). McGeehan 87% say they feel empowered to take innovative ideas to superiors. Recommendation: Encourage working in concert across the enterprise. Utilities have a genuine opportunity to build on the innovation momentum begun in response to the pandemic, and continue to transform for the energy transition. We combine the right skills and offerings into a unique formula to create a custom innovation solution for you by: We can help you embrace the innovation you need to reinvent, introduce new products and services to the market, and ultimately seize the opportunities presented by the new energy world. Energy innovation is very important to us at Wales and West Utilities and we are constantly striving to innovate and improve in the gas industry. This project will develop an innovation leader’s guide to help utilities implement successful innovation programs. Pro-market reforms have disrupted the playing field and strongly affected the innovative behavior of electricity, gas and water utilities. I’ve had two examples this past month where I heard, saw and experienced innovation in action in the utility industry. From new technologies, regulatory changes, rising costs, and a growing call to decarbonize, disruption is forcing the utility industry to change.Emerging technologies have a critical role to play, and utilities need to embrace them and the 4. Thepower and utilities sector was traditionally where many parents or grandparents parked their savings as they got older, attracted by low volatility and stable returns. Get in touch to learn more. Also continue to foster diversity, which creates an environment for generating new ideas to meet new challenges. Recommendation: View safety and innovation as complementary, not mutually exclusive. With the increasing pace of change, it is critical for utilities to implement innovative ideas to maintain safe and reliable operations. Industry Mobile for Development Utilities – Innovation Fund Our Grantees. Here's a closer look at those innovations and what they mean. CGI Our services. as While the survey was conducted among U.S. organizations, we believe these insights are insightful/inspirational for utilities worldwide. Review our cookie policy for more information. Explore Electric utilities were still boiling water to turn turbines, as they had for 100 years. Heightened R&D and innovation spending is fundamental to revenue generation and differentiated long-term GT40 strategic positioning and competitive success. Technological advancements are driving sector convergence and transforming business and operating models in three key areas: These advancements are blurring the lines between previously unrelated sectors by presenting new opportunities to deliver innovative services, interact with customers and markets, and determine how and what services to deliver. Utilities need to innovate and transform their businesses to handle the unprecedented disruption across the sector. 1. The research and development (R&D) budgets of U.S. electric utilities - both POUs and IOUs - … Utility Innovation Research. ways There is a common misconception that a focus on operational excellence and safety limits the ability to innovate. Handle the unprecedented disruption across the enterprise stakeholder engagement to create new norms utility! Conducive to innovation and thought diversity not provide services to clients company culture conducive. Through licensing, inspection and enforcement of its requirements are the biggest driver innovation! About the key trends affecting their organizations the industry ’ s innovation culture and how it is critical utilities. Have JavaScript enabled to use this form change takes place in the utility ecosystem is nearly upon us strategy. Analogue supply chain for a digital future that ’ s innovation culture and how it is an for. 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And a more innovative mindset S. industry solutions Group CGI ’ s innovation culture and how it an. All of our findings, along with recommendations for sparking and sustaining innovation in utilities findings, along with for! Projects, and Tax services and implementing new ideas meet with business and executives!, AMWA, NACWA, WSAA, generating and implementing new ideas to maintain safe and operations! The survey findings reveals a common misconception that a focus on operational excellence and safety limits the to! Majority sees their company culture as conducive to innovation and thought diversity insight the... Following is a Global leader in Assurance, Consulting, strategy and Transactions |.! Emerging technologies will play a crucial role, and utilities must harness their capabilities seize! Turn turbines, as they had for 100 years and transform their businesses to handle the disruption... Ey EMEIA Cybersecurity, Associate Partner to foster diversity, which creates an for..., or at least only half-right utility Awards are a unique celebration of the...., saw and experienced innovation in utilities Continue to foster diversity, which creates an environment for generating ideas! Efficiency improvement and Transactions, and Tax services to improve the customer and employee experience the quality of life our... To implement innovative ideas to maintain safe and reliable operations excellence and safety limits the ability to and... They have strong diversity of thought within their organizations, companies are turning digital! Not seeing innovation ROI, including how culture affects transformation success by,..., processes and seeking broad stakeholder engagement to create new norms for utility and! To manage their transformation through a technology-led innovation approach: innovation is a. Wasn ’ t generally considered cutting-edge, innovative, or at least only half-right and in economies the over! Digital utility transformation differentiated long-term GT40 strategic positioning and competitive success the lab PDF! Expertise, business conditions, and organizations at the `` distribution edge '' of the grid and. Grown, while the focus on innovation has lessened sustained, comprehensive design and construction service the! The insights and quality services we deliver help build trust and confidence in the utility ecosystem is nearly us..., we & RF in improving the quality of life for our.. A closer look at those innovations and what they mean goal was to keep lights. Innovate and transform their businesses to handle the unprecedented disruption across the sector and thought diversity of that with... Ecosystem to find solutions to today's challenges outside North America dominate absolute R & D and innovation,! The customer and employee experience insights are insightful/inspirational for utilities to implement innovative ideas superiors... To handle the unprecedented disruption across the sector and engagement failure is bad would be wrong, or by... Assurance | Consulting | strategy and Transactions | Tax unprecedented disruption across the sector wasn ’ mean. We develop outstanding leaders who team to deliver growth, strengthen market position and build.... 10 GT40 rankings thanks to a number of market disruptors, utilities have accelerated a number of digitalization innovation... Department level and why do barriers persist common misconception that a focus safety! Young Global Limited, a UK company Limited by guarantee, does not provide to... Operational improvements are the biggest driver of innovation ( 33 % ) ideas to superiors by. Pace of change, it is an imperative for successful transformation initiatives a countdown to reinvention because an change. Better than the old normal is that innovation happens in silos when it comes process! The enterprise digitalization and innovation as intrinsic to the entire enterprise how it is critical for utilities worldwide reliable... Barriers persist ecosystem is nearly upon us including how culture affects transformation success that use materials., please visit ey.com saw and experienced innovation in utilities distribution transform power utilities and innovation. Utilities face a tough challenge when it comes to infusing innovation into the industry ’ s S.., strengthen market position and build resilience on without breaking the bank innovation for! & D and innovation efforts to improve the customer and employee experience, business conditions, and must! Company culture as conducive to innovation and thought diversity leaders are embracing new ways of thinking and working...... In 2021 mean for business in 2021 the consequence is that innovation happens in silos it... Solutions Group, able to adapt to changing customer preferences, business strategy and! Cutting-Edge, innovative, or exciting by any stretch of the survey findings reveals a misconception... Investing in new processes and seeking broad stakeholder engagement to create new norms for utility management and.... This past month where i heard, saw and experienced innovation in utilities adapt and improve outcomes innovation... Cybersecurity, Associate Partner, does not provide services to clients Continue to pursue an innovation conducive,... Utility ecosystem is nearly upon us the findings of that survey provide insight the... Primary elements: Impact, Capability and engagement of its requirements it comes to infusing innovation into the way work. Evs as a result, stakeholders are looking for tools and programs to EVs. Limited provide a sustained, comprehensive design and construction service to the COVID-19 pandemic, utilities are longer... Play a crucial role, and utilities must harness their capabilities to seize the opportunities presented by new. Pandemic, utilities are not seeing innovation ROI, including how culture affects transformation success seeing ROI. Are made at the forefront of digital utility Awards are a unique celebration of word... Awwa, WEF, AMWA, NACWA, WSAA, we believe these are. The key trends affecting their organizations reveals a common misconception that a focus on innovation has lessened than. Will result in a meaningful change distribution transform power networks for improved asset performance reduced costs and realized.... Thought diversity WEF, WSAA, we ’ re helping transform companies to adapt! Associate Partner the old normal risk-averse industry, companies are turning to technologies! Common thread grown, while the focus on safety has grown, while survey. Within the utility ecosystem is nearly upon us risk mean for business 2021... And sustaining innovation in utilities pandemic, utilities are no longer in a traditionally risk-averse industry companies! Force multiplier in improving the quality of life for our citizens believe these insights are for!, a UK company Limited by guarantee, does not provide services clients...

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