The electric and gas utility industry today holds the keys to solving many global issues. Increasingly, the industry provides potential solutions for economic growth, environmental stewardship, energy independence, low emission transportation, and energy consumer empowerment. Yet, the core infrastructure is aging, both facilities and personnel, causing a trend which cannot be underestimated. New technologies, primarily information technology, are rapidly entering this arena, often with overblown expectations. The industry must balance reality with a strong measure of urgency. Today’s strategic investments must fulfill the promise without short term disruptions. Transformation, to be successful, requires strategic direction. Leveraging advanced technology adoption and thoughtful analytics, the industry’s evolution will center on optimizing choice, control, cost, convenience, and collaboration for energy consumers and their environment, both physical and economic. Along with the promises come the challenges – technology, economics, regulation, environment, and others.