Empowering ideas 2011
A look at 10 of the emerging issues in the power and utilities sector
Empowering ideas 2011: A look at 10 of the emerging issues in the power and utilities sector, now in its second year, suggests the recent natural disasters that led to a nuclear meltdown at the Fukushima nuclear plant in Japan will have far-reaching impacts on the global nuclear power industry and offers insights into issues and trends in the coming year and identifies opportunities (e.g., the high growth of unconventional gas) and challenges (e.g., the security of energy supplies).
“The impact of the events in Japan on the nuclear industry will be both profound and long-lasting,” said Peter Bommel, DTTL Global Industry Leader for Energy & Resources. “As the demand for energy continues to increase, energy companies will face formidable challenges in balancing safety concerns with energy demands.”
The report includes the prediction that governments, utilities, and consumers will increasingly tap into energy efficiency and demand side management programs to address these challenges. Another trend, according to the report, is the growing importance of data analytics, which help companies analyze enormous data sets to create scenarios and take informed decisions.
The report outlines 10 forces impacting the global power and utilities sector:
- The future of nuclear: The post-Japan path
- Risk management: The new challenge
- M&A: Is it time to buy or sell?
- An energy resource dilemma: Is natural gas the clear winner?
- Driving performance in “smart” utilities: Data analytics to the rescue
- Clean technologies: Which ones are leading?
- Reversing course in LNG: From west to east.
- Trends in carbon: What utilities can do now.
- Renewable energy: Key trends and outlook.
- Energy efficiency and demand side management: Status and outlook
According to Bommel, “In tracing the top 10 trends in this year’s report, it is clear that each issue will affect each company differently, depending on both their business model and on the jurisdictions in which they operate. The earthquake and resulting tsunami in Japan will have repercussions across the entire spectrum of power and utilities resources during 2011 and beyond. Perhaps the most important take away from this year’s report is the need for infrastructure risk management. Whether power and utilities companies use natural gas, coal, nuclear, or renewable energy, they will place new emphasis on infrastructure safety.”