As the world prepares to exit from the COVID-19 crisis, the pace of the global power revolution is expected to accelerate. This publication from the World Energy Council, in collaboration with PwC, underscores the imperative for electricity grid owners and operators to fundamentally transform themselves to secure a role in a more integrated, flexible and smarter electricity system in the energy transition to a low carbon future.
The briefing is based on in-depth interviews with CEOs and senior leaders from 37 transmission companies representing 35 countries and over 4 million kilometres – near global coverage - of the transmission network. While their roles will evolve, transmission companies will remain at the heart of the electricity grid and need to balance the challenges of keeping the lights on while transforming themselves for the future.
The publication explores the various challenges affecting how transmission companies prepare and re-think their operations and business models, and leverages the insights from interviewees to highlight four recommendations for transmission companies to consider in their journey:
- Focus on the future through enhanced forecasting and scenario planning
- Shape the ecosystem by collaborating with new actors and enhancing interconnectivity
- Embrace automation and technology to optimise processes and ensure digital delivery
- Transform organisation to attract new talent and maintain social licence with consumers