Europe’s Energy Crisis: ‘Tis the season to invest in sustainable future Sponsored by SAP
, and taken steps to nationalize struggling gas utilities. France recently enacted a bill providing energy relief funds to the lowest-income households. The International Monetary Fund reported that among western European countries, the UK would be hardest hit by rising gas prices. Nevertheless, utilities have strengthened their collective innovation backbone.
Gas utilities are looking at entirely redrawn energy value and supply chains in their quest for sustainable services and revenue streams.stand at a crossroads from which there’s no turning back. Typically locked into years-long contracts, they cannot pass skyrocketing prices onto consumers. Diversifying suppliers for the same fossil fuels only raises costs as companies are forced to purchase on short notice. Innovative business models are the answer for long-term stability.
“Utilities need to carry their end-customers along with them, turning them into prosumers who generate their own energy with, for example, a solar PV installation on their roof,” said Sellmann. “Ultimately, utilities need to turn consumers into flexumers, creating energy flexibilities from say, a surplus of energy that they do not use, but can sell back to the neighborhood and the grid. It’s a complete shift of the historical value chain.
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