March 2, 2015

Transforming the Nordic energy market

Cristina Petrescu

Executive Vice President, Public, Healthcare & Welfare, Tieto

Did you know that the Nordic energy market is one of the first free electric-energy markets in Europe? The energy market is experiencing a lot of interesting changes at the moment, and here are some of my views on the interesting things in this industry

Consumer changes in the energy market

The biggest change in the energy market will be experienced by customers. I see this happening for two different reasons.

a) Consumer needs have changed because of digitalisation. Mobility, social media, and cloud services are changing the expectations of energy consumers. This means often better services for people: they want to decide when, where, and how they want to purchase their services.

b) In the future, consumers will be both consuming and producing. One day, an individual will be able to install sun panels in their home, and when they have an overcapacity of energy, they can sell that extra energy. This hybrid of consumption and production will be a huge change for the energy retail companies, energy distribution companies, and of course, for energy consumers. It will create exciting new business opportunities for the whole energy ecosystem. The future energy industry will be like how AirBnB was for hotels, but now for energy.

The industry cloud and energy markets

Cloud services can help out the energy industry a lot. I recommend the industry clouds for the Nordic energy markets to help energy businesses more competitive in today’s world. Many companies are switching to industry clouds because of their massive benefits such as flexibility, security, and compliance with the regulations and rules set by the energy industry. Industry clouds can also help to get new service launches to the market quickly and cost-efficiently.

What’s the energy industry’s next move?

The winners of the energy industry’s future will be the companies that can predict future demand, and adapt to new technologies by meeting the modern expectations of their customers. If you are a leader in the energy market, it is best to be open-minded, and have a clear customer focus. The next generation of energy will have everyone involved.

I find the energy industry to be one of the most exciting ones at the moment because of the great possibilities ahead. I’m happy to be working here to support our clients explore and implement these changes, and be forerunners!

Cristina Petrescu is Head of Energy Utilities at Tieto. You can find her on LinkedIn

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