We are delighted that you are about to read these pages, which we are
confident will give you unique and timely insights into the rapidly transforming
energy industry and provide you with the tools necessary to achieve extraordinary
value. The future landscape of the utilities industry is changing at an
unprecedented pace that presents participants with huge opportunities
as well as substantial risks.

PricewaterhouseCoopers’ Energy Practice has experienced tremendous growth
over the past several years. Our strategy, performance improvement, and
technology solutions practitioners have worked with many of the world’s
leading energy companies to help them achieve success as the future utilities
landscape unfolds.

The invitation from Montgomery Research to bring together current energy
industry thought leadership from leading practitioners, academics, system
and software providers, and corporations who are helping shape the new
energy industry landscape was timely and enticing. We are pleased to provide
you with this thought leadership initiative, a venue for e-enabled discussion
and debate on this topic.

Each of the seven sections within this project explores the key issues
facing utility and energy company executives as the industry transforms
and becomes increasingly competitive. Taken together, they construct a
roadmap for success, providing a path for skillfully navigating the increasingly
complex and challenging utility landscape. From understanding the global
power company of the future, to harnessing the power of e-business and
creating a customer-centric organization, you will gain fresh insights
and practical guidance in developing and implementing strategies necessary
to compete and win in the future energy landscape. All of the contributors
to this publication help to identify, describe, and explain how to achieve
breakthrough success and deliver the greatest value.

PricewaterhouseCoopers believes that this collection of thought leadership
pieces will provide you with the insights and tools necessary for succeeding
in increasingly competitive energy markets. The future is filled with
opportunities and challenges. Companies must respond with bold, innovative
steps to gain and maintain competitive advantage. Timing truly is everything.
Act, respond, and succeed now — or be overwhelmed as your competitors
step up and pass you by.

On behalf of the partners in the PricewaterhouseCoopers Energy Practice,
I wish you lasting victories as you navigate the unfolding energy industry
landscape.

Michael Hamilton
Gerald Keenan
PricewaterhouseCoopers