Utilities: Key Developments and Predictions for 2022

The year 2021 marked yet another unprecedented time for the energy sector. Countries and companies unified around limiting global warming and achieving net-zero carbon emissions, and record amounts of renewables were added to the grid. Utilities play an important role in the energy transition as electrification remains the key strategy to meet decarbonization targets; the trend accelerated in 2021 and doesn't show signs of slowing. The year 2022 will be critical for utilities as they must not only accelerate their own decarbonization initiatives and develop strategies to take advantage of increases in government funding for infrastructure, but also be mindful of new threats from oil and gas companies setting their sights on a big piece of the electrification pie.