2022 INDUSTRY OUTLOOK IDENTIFIES FIVE MEGATRENDS IMPACTING AUSTRALIA’S ENERGY AND UTILITIES INDUSTRIES
6 July 2022, Canberra, ACT – Australian Industry Standards (AIS) has released the 2022 Energy and Utilities Industry Outlook that identifies five megatrends impacting Australia’s energy and utilities sectors. It focuses on the energy and utilities industries that AIS supports – Electrotechnology; Electricity Supply Industry (ESI) Generation; ESI Transmission, Distribution and Rail; Gas; and Water.
The five megatrends include:
- Double disruptors – digital transformation together with the current pandemic has caused a double disruption to industry, leading business and economic activities to shift rapidly to the online world.
- Renewables, sustainability, and low emissions technologies – The decarbonisation of the energy and utilities industries has begun in earnest in Australia. Under Australia’s Long-Term Emissions Reduction Plan, numerous digital solutions are being developed to support the goal of achieving net zero emissions by 2050.
- Data analytics – The adoption of digitalisation and data analytics technologies in the energy and utilities industries is transforming day-to-day operations and creating numerous opportunities.
- Labour shortages – an industry-wide labour shortage is adversely affecting Australia’s economic recovery.
- Digital transformation – the acceleration of digitalisation has impacted the skills needs of the workforce, requiring many to upskill or reskill to keep pace with the digital demand.
The Industry Outlook is based on extensive research and consultation with Industry Reference Committees (IRC) representing these sectors. It provides an overview of each industry and presents a whole-of-industry view about the opportunities and challenges for the workforce and skills development necessary to meet industry needs.
The report is a snapshot of a continually evolving story that is intended to alert and inform a wide audience and enhance the industry’s capacity to act on workforce development initiatives. It also looks at the significant contributions of the energy and utilities industries to Australia’s economic prosperity.
“The recent natural disasters in Australia impacted energy security and water industry operations, and these types of events will continue to do so. Therefore, these industries are planning for mitigating future disruptions caused by climate change and natural disasters,” said Paul Walsh, AIS CEO.
There is an even greater need now to have a workforce that is equipped with the right skills at the right time. The Australian economic recovery and our global competitiveness will be underpinned by a strong and responsive industry-led Vocational Education and Training (VET) system.
“This Industry Outlook on Energy and Utilities is a key piece of intelligence about the skills needs of industry. IRCs are well placed to support industry to ensure priority skills are identified and associated training package development is future focused to meet their workforce needs,” added Mr Walsh.
IRCs are the formal conduit for the industry in gathering information from the industry they represent – including challenges, opportunities, trends, and skills requirements for training via the VET system. Each IRC provides a forum for industry engagement and it comprises of industry leaders and experts who work to ensure skills standards and qualifications are developed to meet industry requirements, now and into the future.
The 2022 Energy and Utilities Industry Outlook can be found here.
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