Investor-owned utilities (IOUs), particularly electric utilities, operate in an environment today that is far different from the past, even just five years ago, and the only certainty is more change is on the way. A myriad of factors are shaping the industry today – declining demand projections, evolving environmental policies, aging infrastructure challenges and, importantly, the evolving nature of consumers as they adopt new technologies and an increasingly digital lifestyle. Utilities must evolve now as well. IOUs need to quickly embrace adaptability, transform their offerings and tailor the value they provide to better fit changing customer expectations within the changing energy landscape.
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