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Energy industry set for big changes


Source: news.com.au, 7 October 2013

ENERGY chiefs anticipate a major industry shakeup in the decade ahead as more shale gas and renewable power becomes available.

Senior utilities executives from 35 countries say their business model is headed for "complete transformation or important changes" by 2030, a survey of 53 power and utility companies conducted by Price Waterhouse Coopers (PWC) shows.

Almost 70 per cent of companies in Asia expect some degree of transformation, with eight per cent believing business models will become "unrecognisable" by 2030.

PwC's Australian utilities leader Mark Coughlin said the industry was on the brink of radical change.

"Consumers will hold the upper hand, new fossil fuel sources such as shale will come online, renewable sources will become increasingly affordable and competition more intense than in the past," Mr Coughlin said.

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