Energy Insights Announces 2005 Predictions for the Energy Industry
FRAMINGHAM, MA – January 25, 2005 – Energy Insights, a newly launched IDC company that provides oil & gas and utility industry executives with market intelligence, competitive analysis, and demand-side adoption trends, will hold a telebriefing on Tuesday, January 25 at 12:00 p.m. EST to discuss its 2005 predictions for the energy industry.
To develop its predictions, Energy Insights has identified the leading trends that will impact information technology decisions in the energy industry. According to Energy Insights, volatile energy prices, improving financial health, and geographic variation of market restructuring are key factors driving technology investments in the energy sector. The top 10 predictions focus on the transformation of major energy industry business processes and how technology enables that transformation.
Energy Insights' top 10 predictions for 2005 are:
— U.S. Utility Mergers and Acquisitions Will Accelerate, Putting CIOs in the Spotlight
— Utilities Will Get Serious About Business Process Outsourcing
— Capital Will Flow to Alternative/Renewable Technologies
— Upstream Will Invest in Digital Oilfield Initiatives
— Wholesale Will See a Recovery of Energy Trading
— Delivery Will Remain Focused on Operational Efficiency and Compliance
— Retail Investments in the US Will Focus on BPO for Customer Care and Billing
— Intelligent Grid Hype Will Increase, But Reality Will Be Years Away
— Energy/Telecom Convergence Will Re-emerge, But With Limited Success
— US Energy IT Spending Will Exceed $22 Billion in 2005
Energy Insights' newly appointed vice president of research, Rick Nicholson, will lead the telebriefing on January 25. A report titled Top Ten Predictions for Energy in 2005, will be available in February.
"These predictions are drawn from IDC and Energy Insights studies, industry contacts and discussions, and our own industry experience," said Nicholson. "We have identified key trends that will impact energy industry business and technology decisions in 2005 and those that will have an effect over the next five years. Participants in the predictions telebriefing will learn about the latest issues shaping the energy landscape and how to incorporate this information into their business planning for operational excellence and competitive advantage in 2005."
For telebriefing details or to register, please visit http://www.idc.com/EIpredictions.
About Energy Insights
Energy Insights, an IDC Company, provides energy industry executives with research-based advisory and consulting services that enable energy companies to maximize the business value of their technology investments, minimize technology risk through accurate planning, benchmark themselves against industry peers, adopt industry best practices for business/technology alignment, make more informed technology decisions, and drive technology-enabled business innovation.
Energy Insights provides full coverage of the energy industry value chain from upstream to retail activities. Staffed by senior analysts with significant technology experience in the energy industry, Energy Insights provides a portfolio of offerings that are relevant to both IT and business needs.
Founded in January 2005, Energy Insights is headquartered in Framingham, MA. Visit http://www.energy-insights.com for more information.
IDC is a subsidiary of IDG, the world's leading IT media, research, and exposition company.
# # #