Digital Transformation of Energy Companies: The Role of Disruptive Communication

Abstract

This chapter offers an overview of the challenges of digital transformation within the energy sector by drawing on theoretical considerations about new market models and resulting changes in communication. The author makes his case in the energy industry in Austria, where trends such as decentralised solutions driven by the expansion of renewable sources, fragmented market structures, the change from consumer roles to “prosumer” behaviour and smart homes are important as key factors of transformation. Hence, major technical and organisational changes are taking place, the energy sector no longer being dominated by energy providers but being shaped by so-called creative destruction. This chapter explores causes and consequences of the digital transformation in the energy sector, offering guidance with respect to current trends and future challenges. The author explains new energy-related services, digitalisation triggering new business models, “prosumers” as active market players, new pricing models, decentralisation of power plants and storage as well as smart networks. As a consequence, a new level of cooperation and communication is required to face changes promoted by the World Wide Web, social media and a new level of information access.