When digitalization pervades, business models converge: A conceptual model for the electricity industry

While decarbonization in the electricity sector has been studied extensively, there has been less attention paid to the digital transition. Not only can digital technologies improve efficiency and reduce operational costs in this sector, but they also can enable new energy ecosystems, create new business models, and accelerate the energy transition itself. We present a conceptual model that offers insights into three key areas: industry structure, end products, and pricing strategies. Our recommendations are tailored to help energy firms, startups, and digital companies navigate these evolving dynamics. While the focus is on the electricity markets, these insights hold broader relevance and can be effectively applied to other industries in response to digital transformation.