Are Utilities Up To The Challenge? Antonio Mexia on Net Zero

In this episode, António Mexia, CEO of EDP Group, joins us to discuss the challenges that utilities are facing in adapting their organization, skills and culture to the energy transition environment.

António Mexia starts by noting that we are living in the middle of a revolution: digitalisation is totally transforming most sectors, including the energy sector, which was for decades a very traditional one. An open innovation approach is crucial in facing this new context, as “most opportunities will probably come from outside our walls, from outside the company”. In the specific case of EDP, of which António Mexia is CEO since 2006, the growth of the renewables business segment was one of drivers of the company’s cultural change – “People understood that everything would be different”. The need for a cultural change is now an issue for all the players along the value chain. Regarding grid operators, they have been mainly focused on the security of supply, but now they are also being challenged to change very fast to adapt to a much more decentralised and decarbonised system. In António Mexia’s view, the ability to become agile and flexible is key to address the technological and market disruptions that are coming. Moreover, he considers that attracting the best talent and committing to diversity are critical elements for energy companies to succeed. While it seems that not everyone is on-board on this upcoming disruptive change, António Mexia notes that this is a movement “clearly demanded by the society in the streets” with which companies will have to cope.