Producing and delivering clean, reliable power—which fuels virtually every aspect of modern society—is becoming increasingly challenging as environmental concerns mount and natural resources become more difficult to access. Driven by demand from developing countries, the requirement for additional capacity is likely to grow dramatically over the next 20 years, and the increase in demand is coming at a time when much of the existing energy infrastructure needs replacing. The energy and utilities industry is seeking innovative ways to address these challenges.
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Energy
CEOs of integrated oil companies worldwide are focused on meeting government requirements to find alternative fuel resources and new ways to reduce time to first oil. In addition, the workforce is shrinking as large numbers of key employees begin to retire within the next five years, leaving a gap in expertise among younger workers. Because of this, CEOs of integrated oil companies—along with leaders of national oil, construction and engineering, and oil field services companies—are being forced to improve collaboration across dispersed regions and cultures, as well as develop better models for creating the next generation of industry expertise.
Utilities
CEOs of utility companies face a step change in the industry. Renewable power-generation sources will increase significantly. Energy efficiency measures, combined with tough government regulations on greenhouse gas emissions is forcing the industry to rethink the way electricity systems are designed; current systems cannot manage large-scale integration of renewable generation. Promoting energy efficiency does not increase industry revenue in today’s market because a reduction in energy usage equates to a reduction in profits; therefore, CEOs must reshape their future strategies and business models.
