target audience: TECH SUPPLIER Publication date: May 2023 - Document type: Market Perspective - Doc Document number: # US49142022
Utilities Asset Operations Quarterly Update: January–March 2023
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Abstract
This IDC Market Perspective provides an overview of utilities' asset operations in 1Q23, covering M&As, agreements, reorganizations, and major business developments; new financial deals; major renewables infrastructure projects; major hybrid and battery energy storage projects; major green hydrogen projects; water new developments; smart meter and smart grid initiatives; microgrid initiatives and agreements; emobility developments; conservation and energy-efficiency initiatives; and IT ecosystem agreements, IT contract wins, and IT product announcements.
"Unpredictability has become the name of the game for utilities, as the events of the past two years have changed the game. While more immediate matters such as supply security, demand efficiency, and tariff impacts on energy consumers are drawing attention from longer-term initiatives, contingent factors such as extreme drought and catastrophic weather events are a vivid reminder that climate is a nonlinear factor that must be addressed with extreme urgency. Utilities will continue to prioritize their net-zero journeys and sustainability efforts, with affordability being of paramount importance," said Gaia Gallotti, associate research director, IDC Energy Insights.