The UK spends more on utilities IT than any other Western European country, according to research by IDC Energy Insight.
The report, covering market sizing and forecast estimates for the Western European utilities industry between 2009 and 2014, estimated that IT spending would reach $8.8bn in 2010, rising to $10bn in 2014. IDC expected UK utilities companies would be the biggest spenders, absorbing 19.2% of the total amount spent on IT across all Western European countries.
Gaia Gallotti, research analyst at IDC Energy Insight, said, "In the UK, IT service, which makes up the largest share of [Western European] spending in 2010, is driven by substantial investments in maintenance and support, implementation and operations."
In line with IDC's forecast, energy market regulator Ofgem, released a statement this week proposing new regulations and an estimated investment of £32bn over the next 10 years to help meet low-carbon commitments and develop smart grids.
IDC's spending forecast also predicted IT services would make up 63.7% of total IT spending for utilities in 2010, while software and hardware spending would equal 19.6% and 16.7% respectively.