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IT in the New Reality for Power & Utilities

As an essential sector, power and utilities companies keep the lights and heat on and our phones and internet connections running. As a critical service that underpins all other essential services, this sector is one that historicallyhas seen consistent, and largely stable demand for its services. However, it is not immune to fluctuations according to economic activity and suffered an unprecedented 10 percent1reduction in demand for power on average through the early COVID-19 lockdowns around the world as offices, commercial sites and many manufacturing operations closed down. But these shutdowns have now largely passedand economies are opening upagain, while residential demand for power is possibly higher than ever with so many people working from home and moving power that was traditionally centered in metropolitan areas to the suburbs. As a result, 40 percent of CIOs in the sector describe their businesses as being in ‘surge’ mode.