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2021 STRATEGIC DIRECTIONS: MEGATRENDS

Posted to Black & Veatch in the Utility Management Group
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  • Nov 30, 2021
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2020: The unpredictability of the past year continues to reshape long-held conventions about the importance of infrastructure. COVID-19 has made power, water, natural gas and telecommunications more essential than ever. The recent proliferation of catastrophic wildfires, devastating hurricanes, late season storms and the failure of the Texas electricity grid in early February 2021 underscored the growing impacts of climate change and the fragility of many infrastructure systems. 

Nationwide, utilities are working overtime to adjust operations to not only adhere to COVID-19 health and safety restrictions, but to continue to maintain uninterrupted service. At the same time, the global outbreak has highlighted the urgency of transitioning to new technologies and data-driven approaches that will enable more efficient management of critical systems and aging assets. This is occurring even as the economic impact of COVID-19 reduces utility revenue that is critical to meeting both these goals, adding tension and complexity to the prioritization of investments.

This year, we identified three megatrends that build on the themes of recent years — but throughout this epochal year, our professionals’ market insights and client interactions have revealed notable shifts in their trajectories and focus, examined closely in these sections:

  1. Customers Driving Sustainability in the C-Suite
  2. Next-Level Reliability Through Resilience
  3. Turning Data into Action

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