Addressing Organizational Change in the Evolving Energy Marketplace. (7th June 2022)

• Record Type: Journal Article
• Authors: Campbell, Colleen; Rasmussen, Shawna; Johnstone, Kate
• Is Part Of: Climate and Energy. Volume 38:issue 12(2022)
• Page Start: 1
• Page End: 10
• Publication Date: 2022-06-07
• Subjects: Energy industries -- Periodicals; Energy industries -- Environmental aspects -- Periodicals; 333.79
• DOI: 10.1002/gas.22294
• Languages: English
• ISSNs: 2692-3831

Abstract

Abstract : In the last few years, energy and utility companies have needed to manage a substantial amount of change to meet the need for a low‐carbon and clean energy economy. These changes have required significant levels of investment in new business models, managing the electric grid and system operations, and increased renewable energy and smart technologies. A transition of significant proportion for an industry which touches every aspect of our daily lives. Utilities that successfully manage the transition to a clean energy economy will likely flourish, while others will likely lose market shares to retail energy providers and competitors offering self‐generation alternatives. Retail energy and technology providers will also need to adapt as the pace of this clean energy transition quickens to meet global, national, and state climate mitigation goals. This transition curve is intensified due to several factors, including the ongoing impacts of the COVID pandemic, hybrid work models, digital transformation, industry talent shifts and workforce shortages, supply‐chain constraints, and increasing regulatory demands. How an organization views and prepares for this transition can present both opportunities and challenges for the industry.