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My View from the EEI Finance Conference

December 2018

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My View from the EEI Finance Conference

The future of the utility business model was at the forefront of almost all discussions at Edison Electric Institute’s Financial Conference in San Francisco. This was particularly apparent at the CEO roundtable event where executives from Public Service Enterprise Group, Eversource Energy, CMS Energy, and Edison International discussed how the industry is incorporating new technologies with huge potential impact, such as the digitalization of the value chain.

Although all four executives agreed that big change is on the horizon for the energy world, when asked, none could produce an action plan for where companies should start innovating that will lead to future financial performance. Looking at the market it’s clear that investors still demand strong income from regulated business, but how can one prepare for the future without investing outside the regulated business?

Personally, I believe that digitizing finance activities is one of the most cost-effective ways for utilities to take the first step towards incorporating the trends of trends of the future, today. It’s understood that 30–50% of applicable rule-based finance activities have the potential to be fully automated and as technology improves that number is guaranteed to grow.

innogy Consulting’s Digital Finance product incorporates our firm’s experience in implementing digital technologies and devising innovation strategy for utility client’s finance departments. If you’re looking for more long-term improvements to your finance practices, we can help you structure the right environment for innovation too. Please see our offering and get the conversation started with us today!

 

Best wishes,

Jonathan Chen 

 

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