Utility Management Group
Senior decision-makers come together to connect around strategies and business trends affecting utilities.
Another Year of Cost and Loss?
- Jan 16, 2023 8:45 pm GMT
This item is part of the 2023 Predictions and Anticipated Trends for the Power Industry - January/February, click here for more
As executives and managers are putting together and disseminating goals for 2023, there is reason to be optimistic. Many innovative technologies will make worksites safer and more efficient. Some may be looking forward to coalition-building and partnerships on the horizon that will improve their work and expand access to resources. But for the utility industry, there is damage and deadweight loss likely already baked in this year.
Everyone in the utility sector has some familiarity with damage prevention. Buried facilities are vulnerable to accidents and recklessness when excavators break ground without first notifying utilities and identifying the pipes, cables, and wires below. And while eyes are focused downward for the underground utility workers, a sword of Damocles hangs above this powerful and otherwise successful industry. But the dangers, damages, and dollars at risk are not merely abstract looming concerns, they have been tallied up annually on a trend that will likely extend into the future – unless something changes.
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