World energy leaders braced for revolutionary change within the industry

The utilities industry is facing its biggest challenge in modern times according to the eighth annual PricewaterhouseCoopers report ‘The Big Leap: Utilities Global Survey 2006’. According to the report, two-thirds of the world’s leading utility company leaders hold this view with the majority rating the changes that the industry will have to undergo as little short of revolutionary. This sentiment is felt most strongly in Europe (72%), which is grappling with conflicting challenges including supply and demand imbalances, infrastructure vulnerability and environmental concerns.

The industry is ready to make a big leap forward with nearly two thirds believing the industry needs to adopt a 10 year focus on reducing environmental damage, developing new technologies, improving customer service relationships and finding new fuel sources. However, many feel that policy-makers also have to make a leap. 80% of respondents believe political and regulatory factors are inhibiting the ability of the sector to respond to these challenges, and shock factors such as supply or environmental crises may need to occur to force change.
Financnik