Dinosaurs of the past or innovators of the future?
Designing digital strategies to engage domestic customers
Sixty-five million years ago the last of the non-avian dinosaurs went extinct. So too did the giant mosasaurs and plesiosaurs in the seas and the pterosaurs in the skies. What caused for this mass extinction that indicates the end of the Cretaceous and the beginning of the Paleogene?
Scientists tend to huddle around one of two hypotheses that may explain the Cretaceous extinction: an extraterrestrial impact, such as an asteroid or comet, or a massive bout of volcanism. Neither theory is fully proven but one thing is sure-dinosaurs did not manage to adapt to the new changes.
Sixty-five million years after, the energy sector faces a common situation. Never have power companies been forced to encounter more sweeping changes in the global market. With the penetration of new players in the market and the generation of power by customers, the need of development and transformation in the energy system is immense. Continuous innovation of the power industry is needed in order to satisfy the constantly changing and even more demanding needs of the customer.
Many questions occur: “Will the advent of more active customers and prosumers turn the market upside down? What will the next generation customers look like? Are power companies able to keep pace with customers and tailor their offers?”
Like Elbert Hubbard says: “The best preparation for good work tomorrow is to do good work today”. A smart, innovative and competitive energy world of tomorrow must be created today in order to tackle with the evolving changes. This process, however, causes significant changes for EDF, Enel, E.ON, Iberdrola, customers, retailers and so forth.
Is the destiny of dinosaurs about to befall the power sector or unlike them, power companies will be able to find a way to survive, to evolve and sustain the changes? This depends on the capability of the leading power companies to act both swiftly and adeptly. Today’s actions will draw tomorrow’s vision of the power market, outline the effect of the changes and provide sustainable energy supply for the good of the humanity.
