Utility Execs: Cybersecurity is the least of our challenges Outdated infrastructure and an aging workforce top list of concerns in benchmark survey of utility executives.
WASHINGTON, Feb. 27, 2014 /PRNewswire-iReach/ -- According to the "2014 State of the Electric Utility" report, U.S. electric utility executives believe aging infrastructure is the most pressing challenge facing the industry, followed by the U.S. regulatory model and an aging workforce. Although cybersecurity often grabs headlines, most industry insiders don't seem threatened, with 89% saying it isn't one of their top three concerns.
"The survey shows that electric utilities are well aware of the challenges they face," said Davide Savenije, Editor of Utility Dive, a mobile-first digital publication covering the electric utility industry and conductor of the survey. "However, it also shows that utilities see immense opportunities in distributed generation, demand-side management and customer data."
Key findings from the survey include:
- 95% anticipate that their utility's regulatory model will change over the next 10 years, and 57% believe it will change significantly.
- 70% of utilities already offer or plan to offer dynamic pricing to customer within the next five years.
- 57% view distributed generation as an opportunity for utilities as compared to 38% that see it as a threat.
- 46% think utilities are missing the opportunity to deploy public charging stations for electric vehicles.
- 54% of utilities say they face stakeholder pressure to supply cleaner and more sustainable energy.
The survey results were compiled using responses from 527 executives currently employed at North American utilities. The full report is available for download at www.utilitydive.com/benchmarksurvey.
Utility Dive is a property of Industry Dive, a mobile-first business media publisher. Utility Dive reaches over 200,000 electric utility executives with news and information through its mobile app, website, e-newsletter, and social channels. Visit the website at utilitydive.com.
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SOURCE Industry Dive