Webinar recording: Digital Transformation – Utility of Future

Webinar Broadcast date: 15 September 2020

Time: 09h30 GMT | 14h00 IST

In today’s scenario, the survival of utilities will depend on their ability to develop new capabilities, different business models and a mindset centred around agility and collaborations. Digital trends enhance operation throughout the electricity value network, increasing grid reliability and security while reducing the cost to generate, transmit, and deliver electricity.

Before the global pandemic (COVID-19), the Government of India proposed the ADITYA Scheme for Discoms reform as a successor to UDAY with an outlay of INR 3 lakh crores. While the fight with COVID-19 is still ongoing, the announcement of “Atmanirbhar Bharat” for self-reliance was made to help India overcome the economic impact of the pandemic.

Electricity is an essential commodity, and even during the nationwide lockdown, the service continued. The sector relied on digital means to continue operations, which highlighted the need for a resilient and contactless utility in the future. This inspired the vision of a fully digital “Utility of the Future”.

A “Utility of the Future” in pursuit of this journey should adopt a series of digital initiatives that will transform the way energy is produced, delivered, and consumed across the value chain. Utilities should progress towards “Digital Transformation” — involving changes in business models, processes, and organizational/cultural shifts with the support of senior leadership (Chairman, MD/CMD, CIOs) — instead of adopting digital initiatives in silos.

Globally, Digital Transformation can unlock $1.3 trillion of value for the power sector (Source: reports.weforum.org1), which is ready to realize this value by leveraging the building blocks of digitalisation.

Speakers

• Udayan Ganguly, General Manager | CESC Ltd.
• Arun Kumar, CEO | Kreate Energy

Moderator

Vinit Mishra, Digital Practice Head | EY