Conducted for the 2nd time, the Tietoevry Nordic Energy Study examines the trends, challenges and focus areas of the energy industry in the Nordics. A total of 113 decision-makers and top management representatives took part in the study, a follow-up to the earlier study in 2018.
”The study clearly points out four interconnected phenomena. The whole industry needs to be decarbonized, which requires digitalization. Improved customer experience and empowerment are needed to manage and control energy assets. Ecosystems must be in place to manage entire energy value chain. At the same time, security concerns need to be answered”, highlights Jyri Kivinen, VP, Head of Energy & Utilities, Tietoevry Industry.
Towards zero-carbon energy market
Getting rid of fossils is everyone’s task – now more important than ever. Sustainability and a zero-carbon market is the Nordic future. Connected to green energy goals are EU taxonomy and local regulatory models. This is considered to have both advantages and disadvantages, which makes predicting its effects interesting but complicated.
Digitalization accelerates sustainability development
“There is no green without digitalization” is an oft-cited quote. Investing in IT and OT technology is the primary way companies are currently adapting to market changes. Digitalization is having a strong effect on companies’ strategies and investments.
Customer is king and ecosystems are paramount
According to the study, customer focus is a core issue. Energy players are cooperating with customers and are invested in empowering clients. Within the next years, energy consumption will have to be monitored and managed more closely to predict the flux of energy used and the amount of renewable energy generated. All this is for the benefit of retailers’ risk management and for DSOs power management mitigating grid investments.
At the same time, the role of ecosystems is becoming more important than ever. Cooperation between stakeholders is inevitable to control, manage and gain systemic insight. Collaboration profits and futureproofs companies in a fluid market, which is expected to see consolidations and a possible decrease in the number of relevant players, especially in retail.
Public or private cloud?
Cloudification has become topical when increasing the level of digitalization and collaboration in the value chain. Cloud solutions provide several advantages in the speed of development and deployment, sharing data for collaboration and enabling an ecosystem way of working. Security is an understandable concern. The security of public cloud is still being discussed, especially in Sweden. However, readiness, and even willingness, to use cloud solutions is increasing with advanced security solutions being available.
For further information please contact:
Matti Seppänen, Head of Sales and Marketing, Energy & Utilities
mobile +358 400 422 556
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