ORLANDO, Fla., Feb. 8, 2016 /PRNewswire/ -- PA Consulting Group has launched a comprehensive thought leadership series aimed at helping utility executives seek new opportunities and address challenges they will face in the future. To further enhance the content and audience of the series, PA Consulting Group has formed a year-long partnership with Greentech Media (GTM), the leading industry media outlet for research, commentary and insights.
The Next Generation Utility (NGU) thought leadership series focuses on the ever-changing environment and disruptive elements in the industry. It will provide utility executives with invaluable insights that will inform their decisions as they navigate through the unknowns ahead. The series will contain practical guidance on how to address the challenges, capitalize on uncertainty and plan for a sustainable and profitable future.
The series will consist of white papers, bylines, news articles, webinars and videos focusing on topics such as technology, scenario planning using PA's proprietary FutureWorlds™ platform, customer engagement, grid-enabled DynamicEnergy™ and market economics. The content in this series will be released on a rolling basis throughout 2016, on both dedicated GTM and PA Consulting Group websites. For a preview of the initial insights, including PA's white papers on Technology and Utility Analytics, please visit the PA Consulting Group booth #1541 at DistribuTECH.
"This level of uncertainty combined with transformative opportunity is unprecedented in the industry, and we are excited to launch our thought leadership series in partnership with Greentech Media," said Peter Siggins, energy and next generation utility expert, PA Consulting Group. "Our focus of this series is to help clients identify and overcome the challenges by providing them with the proper tools to navigate towards their preferred future."
"Greentech Media's ongoing analysis of the market forces and technologies shaping the utility dovetails well with PA Consulting Group's strategic thinking on the subject," said Scott Clavenna, CEO of Greentech Media. "We're excited to be working with PA Consulting Group on this campaign and bringing these insights to our audience."
COMMON CHALLENGES UTILITIES ARE CURRENTLY FACING
- Increasing adoption of distributed energy resources (DERs) – driven both by policies (net energy metering and feed-in tariffs) and decreases in costs
- Evolving the utility business-model - shifting from a volume and commodity driven business (sale of kilowatt-hours) to a service-based model
- Recognizing that the transformation happening in California, Hawaii and New York will not apply to the majority of utilities
- Embracing distributed energy resources (DERs) and subsequently altering the perception between stakeholders
- Making the evolution process become less adversarial (for example the value of solar tariffs created in Maine and Minnesota)
- Adapting to viewing end-users as not just customers, but also potential suppliers, partners, and competitors
HOW TO ADDRESS THESE CHALLENGES
PA Consulting Group has developed a proprietary scenario planning tool called FutureWorlds™. FutureWorlds™ helps utilities develop a "playbook" of integrated strategies aimed at helping them become utilities of the future. It is a tested and proven tool that helps PA Consulting Group's NGU experts work hand-in-hand with utility executives to develop a coherent, fact-based and insightful view of the future in order to drive innovation and enhance the decision-making process through both qualitative and quantitative methods. FutureWorlds™ offers an innovative approach that provides strategic thinking and advanced technological solutions, which places utilities at the forefront of the industry. In addition, PA Consulting Group has developed a vision for the industry through its innovative concept DynamicEnergy™.
Key advice PA Consulting Group has for utilities includes:
- Invest in innovation - utility investment in R&D declined 74 percent from 1993 to 2000, and investment has not rebounded
- Establish cross functional teams to consider industry issues and make scenario planning a core component of strategic and large investment decisions
- Master the art of integrating smart grid technologies to ensure an effective system of systems
- Increase investments in cybersecurity to keep critical infrastructure safe
- Create value from smart grid data and develop algorithms and visualization tools to derive high-impact analytics that can be used to more efficiently run utilities
- Unlock ways to use distributed energy resources such as rooftop solar, fuel cells and batteries to improve the operational efficiency and reliability of the grid. This calls for utilities to be aware of and responsive to the growing needs and demands of system users.
To access all NGU thought leadership content, please visit: http://www.paconsulting.com/nextgenerationutility - and - http://www.greentechmedia.com/nextgenerationutility
Visit the PA Consulting Group booth #1541 at DistribuTECH for more information.
For additional information on how PA Consulting Group is transforming the way clients work in the energy and utilities industry, please visit: www.paconsulting.com/events/distributech-2016/
About PA Consulting Group
PA Consulting Group is an employee-owned firm of over 2,500 people, operating globally from offices across North America, Europe, the Nordics, the Gulf and Asia Pacific. Our specific expertise is in energy and utilities, financial services, health, life sciences, consumer and manufacturing, government, defense and security, transport and logistics.
Our deep industry knowledge together with skills in management consulting, technology and innovation allows us to challenge conventional thinking and deliver exceptional results with lasting impact. www.paconsulting.com
About Greentech Media
Greentech Media, Inc. (GTM) delivers business-to-business news, market analysis and conferences that inform and connect players in the global clean energy market. Our coverage area extends across the clean energy industry with a focus on solar power and the electric utility market's evolution. Greentech Media's industry-leading coverage is provided by a team of analysts from our market intelligence arm, GTM Research, as well as our world-class journalists and global network of expert contributors. Learn more at www.greentechmedia.com
SOURCE PA Consulting Group