ATLANTA (Feb. 17, 2015) – McDonnell Group, the premier energy industry marketing agency, recently published the 2014 Global Utility Evolution Benchmarking Study, commissioned by Autodesk, providing insight into the utility industry's preparedness over the next ten years in view of the changing utility landscape.
In addition to capturing executive-level utility data about topline industry issues, the report also looks ahead, tracking the progress of an industry in the midst of transformation and exploring the influx of changes in technology, regulation and energy capital markets.
"Moving to a lower carbon emissions environment, understanding the changing nature of supply and demand, and defining business models that can accommodate new commercial realities are not trivial undertakings," said Dominic Thasarathar, Strategic Industry Relations at Autodesk. "Yet in spite of being in a season of change, utility leaders around the globe are committed to not only exploring but also responding to the tasks at hand with vigor and determination."
Digital technology, the changes in consumer behavior and the expectations that accompany it, coupled with increased regulatory pressures, are set to change the utility business model in fundamental ways. The study shows utilities are turning attention to the "big picture" and are more willing to adapt to changing circumstances. As for their preparedness for change, forty-two percent estimated their company's strategic planning horizon is between three to five years with only sixteen percent planning in advance ten years or more. Forty-seven percent rated their company's strategic planning processes above average in relation to other utilities.
"In collaborating with Autodesk, we were able to conduct interviews and gain insight into how utilities are evolving and staying ahead of the curve," said Don McDonnell, McDonnell Group CEO. "In the midst of immense challenges and opportunities, it's evident a modern utility will require a robust, forward view to be agile, innovative and adaptable while continuing to provide reliable, affordable electric service."
The study was conducted between October and November 2014. McDonnell Group interviewed forward-looking decision-makers at U.S. and European utilities with more than $500 million in annual revenue.
About McDonnell Group:
As the leading integrated marketing firm for the energy industry, McDonnell Group has been creating value for clients while transforming the efficiency of the industries we serve since we opened our doors in 2005. We give our clients competitive advantage and long-term market leadership by building powerful brands and positioning them for success. Serving companies from startups to members of the Fortune 500, McDonnell Group is privately owned and based in Roswell, Georgia.
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