GEP provides a playbook for transforming procurement in utilities, addressing the industry's unique challenges. The paper offers specific recommendations for restructuring procurement into a value-generating organization, focusing on three pillars: organizational resources, technology, and governance. Utilities have evolved into regional monopolies regulated by Public Utility Commissions, leading to a cost-plus model that rarely incentivizes cost reduction. However, the industry is beginning to change, and stakeholders are recognizing the potential value of procurement.
