target audience: TECH SUPPLIER Publication date: Jan 2023 - Document type: Market Perspective - Doc Document number: # US49142123
Utilities Asset Operations Quarterly Update: October–December 2022
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Abstract
This IDC Market Perspective provides an overview of utilities' asset operations in 4Q22, covering M&As, agreements, reorganizations, and major business developments; new financial deals; major traditional infrastructure projects; 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, contract wins, and product announcements.
"While 2021 established a new normal and many utility companies broke records in renewable capacity installed and overall business performances, the Russia-Ukraine War that started at the beginning of 2022 continues to jeopardize sustainability targets for 2050. Europe's need to prioritize security of energy supply risks the EU block taking a step backward on its climate change agenda. We expect utility companies to nonetheless continue on their journeys, prioritizing decarbonization, electrification, flexibility for resilience, and new business models," said Gaia Gallotti, associate research director, IDC Energy Insights.