Three Questions to Ask In Order to Balance Unprecedented Change Pressures with the Longer-Term Nature of Utilities? - Sponsored by: Grant Thornton

Utilities are facing unprecedented levels of change. From creating and implementing green strategies, selecting and adopting new technologies, and finding and mitigating cybersecurity vulnerabilities, the pace of change is incredible and is not expected to slow. Utilities themselves, however, are in the business of making longer term investments to provide essential services. So, how do utilities balance the increasing pace of change with the longer time horizon needed for its investments? This is like asking why we should change the way we deliver electricity when wires and poles have already been built and have many years of useful life ahead of them. Here are three questions to consider for utilities who are deciding when and how often to change in response to increasing internal and external change pressures: What is the cost and payoff? – consider both the cost of action (to change), but also the cost of inaction (resisting change). The latter is less thought of but equally important. The &ls ...