Energy

Electrification of Every Nation

The next 20 years in the energy industry will be remembered for the deep electrification expected to take place across a variety of sectors, particularly in the automotive industry as car manufacturers pivot rapidly to hybrid and ultimately fully electric vehicles. Power generation is also shifting more towards renewable sources, which, due to their inherent instability, presents the challenge of creating a stable output, storing energy during peaks to use during troughs.

What does this mean for energy companies? As the industry has witnessed in recent years on a global scale, sharp changes in energy supply and demand can become perilous to suppliers, creating debts that may be unrecoverable and ultimately cause collapse. Critically, the regulation and efficient use of energy will become significantly more important over time, while being able to rely on adequate technology to create long-range consumption forecasts by combining data on various meteorological, political and economic trends will be necessary for long-term resilience.

Companies that can collect, compile and apply all the data they are collecting will rise to the top among their peers.

Green Power

More than any other industry, the energy sector is increasingly coming under scrutiny for its sustainable practices and sourcing of energy. Consumers are more aware of the sustainability of organisations than ever before and are relying on companies to deliver on their promises of a green future.

To earn the trust of consumers, energy companies must go beyond simple annual energy reports and show a deep appreciation for their impact on the environment. Tracking and monitoring your carbon footprint will be critical, with those organisations failing to truly understand their position falling out of favour in the mid to long-term.

Are you monitoring the impact of your energy company? How about their supply chain? All this and more will be key to a sustainable future. To stay ahead of the trend, companies must act today for a sustainable tomorrow.

A Smart New World

The era of smart home technology is upon us, with the Internet of Things (IoT) promising to revolutionise how we interact with our homes. Beyond the opportunities for consumers however, companies in the energy sector are leveraging technology to create new efficiencies, lower costs and enhance their service offerings. In a highly competitive industry where price is heavily scrutinised, digital transformation is at the forefront of utility company executives’ minds, with the potential to make or break their dreams for the future.

Smart technology offers energy companies unprecedented levels of data to monitor and manage energy usage, but are companies prepared to harness this data effectively? Those able to do so successfully will certainly stand head and shoulders above their rivals.

Service with a Digital Smile

Digital technologies and Customer Relationship Management tools have given rise to a range of novel opportunities to please consumers, but many organisations have thus far not revolutionised their service offer. Remembering a customer’s name is one thing, but is it really changing your business?

With a heavy reliance on customer engagement, the energy industry is at the forefront of CRM innovation, seeking new opportunities to bring efficiency and autonomy to their contact centres and services.

Will artificial intelligence bring new ways of driving down customer contact? Will predictive analytics successfully eliminate frustrating wait times? Will customer journey analytics create new and more effective ways for consumers to self-serve? The answers to all these questions lie with the innovators of the sector who strive to develop their systems, data collection and people and reap the benefits.