The power and utilities industry is going through a rapid transformational phase. Today, increasing demand for cutting-edge technology, energy-efficient solutions, smart cities, and electric transportation has converged with the greater need for the inclusion of renewable energy sources and sustainable forms of energy. Undoubtedly, the grid is certainly evolving quickly.
Smart grids are starting to play a far larger role in the MEA’s utility industry as governments go forward with ambitious plans to increase electricity supply, incorporate renewable energy into their generation portfolios and support the energy transition agenda.
The positive news is, encouraging trends in innovation and investment, supported by enabling policies, can aid the industry in achieving its goal of providing power that is more secure, dependable, clean, and affordable. Companies in the power and utilities sectors are leaning more towards investing in developing technology and adapting to new business models. An era of transformation is here, and the industry needs to make the best use of technology to remain agile, efficient, and competitive.
*agenda subject to change