| | MAY 20228IN MY OPINIONBy Shikhar Gupta, Director, PwCUNLOCKING GROWTH VIA DIGITALIZATION OF THE ENERGY & UTILITIES SECTOR IN 2022nergy sector has been undergoing massive transformation over the last decade. Several megatrends including changing customer expectations, rapidly evolving regulations and energy mix, new competitors, and pressure to reduce emissions are threatening the existence of traditional business models. Utilities are increasingly facing resiliency challenges driven by climate change and energy transitions. This is resulting in additional investment in transmission assets which is required to integrate renewable assets and balance production and demand resources. Further, Grid modernization because of extreme weather changes and energy transition is becoming more dominant as utilities look to improve reliability and resiliency of their infrastructure. As a result, we are seeing two types of responses. On one side, we have energy companies which are undertaking large digital transformation exercises with focus on protecting the core and entering the unchartered areas. On the other side, some companies are taking small steps and undertaking pilots across the value chain. While we have successful use cases in both the approaches, it is critical to identify your north star before you dive into it. Workforce Transformation with Focus on Digital UpskillingOne of the major challenges faced by all energy companies is to keep pace with hiring, retention, and E
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