A Strategic Pathway for Energy Companies in the Platform Economy

Folker Trepte, PwC Partner, participated in a panel "A strategic pathway for energy companies in the platform economy" on the sidelines of the Saint Petersburg International Economic Forum.

The transactional sector of developed countries’ economies is estimated at 70% and has demonstrated steady growth in recent decades. The focus is shifting from the basic sector of the economy to the development of digital platforms. Over the next five years, 5% of all S&P 500 companies are expected to be digital platforms, with these 25–30 platforms accounting for about 50% of the total net profit of the companies on the list. Energy companies are the infrastructural pillars of economies, which has historically been an advantage.

 But with the growing importance of the platform economy, the significance of the energy pillar could be limited. The panelists talked about the new direction of development for the energy sector in the era of ‘uberization’, and discussed how can energy giants adapt to and capitalize from this new market framework.

Folker Trepte noted that most of the sales companies are still behind other industries. "There are "digital champions", and there are those who do not see significant benefits from digitalization, and they are 40%," he commented. Such “digital champions” will become leaders in the future, and other companies should not be afraid to experiment with the introduction of innovation in their businesses.

Other participants of the session include Pavel Gontarev, Director, Мail.ru. Digital Technology; Marianne Laigneau, Group Executive Director in Charge of International Direction, EDF, Chairwoman of the Supervisory Board, Enedis; Pavel Livinsky, Director General, Rosseti; Yuriy Manevich, Deputy Minister of Energy of the Russian Federation; Alexander Povalko, Chief Executive Officer, Chairman of the Management Board, RVC; Aleksey Sokolov, Deputy Minister of Digital Development, Communications and Mass Media of the Russian Federation; Francesco Starace, Chief Executive Officer, General Manager, Enel S.p.А.

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