Utility Business Models

Helping Utilities Stay In Front Of The Curve

The goal of the SEPA Utility Business Model pathway is that utilities will have sustainable business models that facilitate and support a carbon-free energy future. As utilities integrate distributed energy resources, address needs for greater resiliency and accommodate new customer demand, the industry will need to determine if and how the business processes, earnings streams, and capabilities of utilities will need to change to ensure alignment and value creation.

SEPA’s Five-Factor Utility Business Model


  • Program Design, Marketing, and Cost Recovery
  • Monetizing utility scale projects
  • Energy-as-a Service
  • Customer Services Commercialization
  • Utility of the Future Organization Structures
  • R & D Strategies
  • UBM Financial Innovation
  • Benefit Cost Analysis
  • Financing Analysis / Asset Ownership Models


About Utility Business Models

Us: Trusted, Unbiased Skills
You: Real results

Utilities are key to the energy system of the future, even as business as usual changes. Distributed generation, distributed energy resources, beneficial electrification, resiliency projects, innovative customer utility programs and carbon reducing policies are compelling important changes to the utilities business model.

SEPA can help utilities transform to create sustainable value for both the industry and their customers.

Contact Advisory Services

Utility Business Models Lead Form

SEPA Expertise

Our utility business model capabilities include…

  • Expertise in Grid Integrated Battery Storage Models, Electric Transportation Program Design
  • Utility of the Future program concept and design for commission filing
  • Advising on community energy resiliency efforts and microgrids
  • Fostering and building effective stakeholder partnerships in utility communities

Trusted Industry Source

SEPA has…

  • 700+ utility memberships who turn to SEPA
  • Expert staff with past experience working at fortune 500 utility companies
  • Experience managing a 200 member utility business model working group

Join the inaugural Utility Business Models Working Group

Please note this working group is utility-member – only. 

SEPA members have a unique opportunity to get in on the ground floor of a newly formed working group and forward their company’s thinking around evolving electric-power sector best practices. Northstar Utilities and their partners will present their demonstrated success in integrating new technologies for cost recovery as a model for prudent investment in new utility constructs. Join this forum designed for learning, sharing, Q&A, and networking with strategists around the country.

2021 Themes

  • Utility Engagement with Smart Communities
  • Monetization Strategies for Customer DER Solutions
  • Utility Program Design, Energy-As-A Service, and Commercialization Opportunities
  • Utility Business Models for Carbon Reduction Strategies

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Meet Your Experts


Natalia Mathura

Principal, Utility Business Models

Natalia Mathura

Natalia Mathura joined SEPA in 2019 as Principal, Utility Business Models with 19 years of regulated and non-regulated electric utility experience. She currently leads SEPA’s utility models content portfolio and engagement opportunities focused on carbon reduction, customer engagement and innovation strategies for utility deployment.

Prior to this, she spent nearly fourteen years as Manager, Energy Services and Utility of the Future for Pepco Holdings, Inc utilities covering New Jersey, Maryland, Delaware, and the District of Columbia regulatory constructs related to retail choice, smart community, and electric vehicle programs. She also worked as a utility consultant for KPMG Consulting at a number of Fortune 500 US utility firms focused on software implementations, new technology strategies, and mergers and acquisitions. Natalia received her Bachelor’s Degree in Economics from Mary Washington College and an MBA from Georgetown University.

Phone: 202.869.3836     Email: nmathura@sepapower.org

Sharon Allan

Chief Strategy Officer

Sharon Allan

Sharon serves as the Chief Strategy & Innovation Officer providing leadership and strategic direction for the organization. She is an executive known for business transformation and growth and has advised corporate boards, Fortune 100 companies, venture & private equity companies, as well as the U.S. Department of Energy, the U.S. National Institute of Standards & Technology, and many U.S. National Laboratories on their efforts to address the transformation of the energy sector.

Prior to joining SEPA, Sharon has driven double-digit growth in both small and large global companies. She has held roles as the CEO of the Smart Grid Interoperability Panel, managing director/partner, Accenture, president, Elster Integrated Solutions as well as executive roles at ABB. During her time as CEO of SGIP and president of Elster, she executed M&A, launched new software, hardware & service offerings and worked with the respective boards to drive the strategy and growth of the business . At Accenture, she advised top power companies around the world in the areas of innovation, transformation, and new technology

She currently sits on the advisory board of Enertech Capital.

Sharon holds a Bachelor of Science degree (Hons) in electrical engineering from the University of Florida and a Master of Business Administration degree from the Duke University Fuqua Business School.

Phone: 919.414.2173     Email: sallan@sepapower.org

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Janet Gail Besser

Managing Director

Janet Gail Besser

As Managing Director, Janet Gail Besser oversees strategy for the SEPA Pathways – Utility Business Models, Regulatory Innovation, Grid Integration and Transportation Electrification – and leads content development and execution for Regulatory Innovation.  She brings to this role broad energy industry experience as a regulator, clean energy business association leader, utility executive, developer, consultant, and consumer advocate.  Previously, she was Executive Vice President of the Northeast Clean Energy Council (NECEC), Vice President, Regulatory Strategy and Policy at National Grid, Chair and Commissioner of the Massachusetts Department of Public Utilities, where she led electric industry restructuring, and an executive and expert consultant at Analysis Group and Lexecon.  She also held senior staff roles at the Massachusetts Energy Office and New Hampshire Public Utilities Commission, served as policy director for a DC-based national independent power association, and began her career as a small hydro developer and low-income consumer advocate.  Janet is a nationally recognized expert on a wide range of energy policy issues with deep relationships across the industry.  She earned a Master in Public Policy degree from the John F. Kennedy School of Government, Harvard University and a B.A., magna cum laude, from Williams College.

Phone: 202.552.4411     Email: jbesser@sepapower.org

Ben Ealey

Principal, Grid Integration

Ben Ealey

Ben joined SEPA in 2020 as Principal, Grid Integration. He leads SEPA’s Grid Integration pathway focused on integrating increased penetrations of carbon-free energy with positive impacts to affordability, safety, security, reliability, resiliency and customer satisfaction.

Ben spent the previous 10+ years working at the Electric Power Research Institute (EPRI) conducting research on information and communication technologies for distributed energy resources. He has strong expertise related to the development and implementation of control, monitoring, and communication technologies to support scalable integration of new energy resources like smart solar, storage, and flexible loads. Ben has led and served on several industry committees related to interoperability and DERs.

Ben holds his Bachelor’s and Master’s Degrees in Electrical Engineering from the University of Tennessee and is the author of numerous industry technical publications.

Phone: 202.869.1948     Email: bealey@sepapower.org

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