target audience: TECH SUPPLIER Publication date: Feb 2024 - Document type: Market Perspective - Doc Document number: # US51716124
Utilities Asset Operations Quarterly Update: October-December 2023
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Abstract
This IDC Market Perspective provides an overview of utilities' asset operations in 4Q23. It covers M&As, agreements, reorganizations, and major business developments; new financial deals; major renewables infrastructure projects; major green hydrogen projects; smart meter and smart grid initiatives; microgrid initiatives and agreements; major flexibility, EV, and battery energy storage projects; IT ecosystem major acquisitions and agreements; major IT and OT contract wins; IT product announcements; and GenAI.
"Unpredictability has become the name of the game for utilities — and 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 long-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." — Associate Research Director Gaia Gallotti, IDC Energy Insights