In highly regulated industries, head butting between company leaders and regulators isn’t unusual. Afterall, regulators are the rule makers and enforcers–. Iif utilities mess up, they can hand down a variety of consequences that usually hit utilities where it hurts most, the bottom line.
“Where is the money going to come from to make these investments?” is one of the key questions utilities are wrestling with. While the answer is complicated, some of the money may come from Biden’s new infrastructure stimulus plan. If it passes in Congress, the federal government will deliver a $2 trillion, eight-year, infrastructure modernization plan. Included in the plan are investments in the electric grid, food systems, urban infrastructure, community health and hospital, and transportation assets.
Dispelling Innovation Risks for Utility Companies If utility companies are going to reach their objectives and goals over the next ten years and beyond, they need to embrace innovation. By definition, innovation is a new idea, method, or device –: NOVELTY (Merriam-Webster). When it comes to innovating at utility companies, there are two commonly held misconceptions: Inadequate …
Women Execs Boost Revenue. What’s Holding You Back? Whether you’re looking for fresh ways to solve old problems or new headaches cropping up around you, problem-solving is a business imperative—the solution: a healthy mix of creativity and innovation. Creativity is the mental ability to develop unique, strategic ideas and concepts. Innovation is a natural extension …
Regulated utilities are in the business of playing it safe, and for good reasons. The services they offer—electricity, natural gas, and water—are non-negotiables in North America. If not handled correctly, they can be lethal. As a result, regulatory bodies exist to ensure that they are offered to everyone—regardless of demographics and geographic location–in a manner that is secure, reliable, and affordable, with no threat to human life (utility table stakes).
In December of 2019, to write the article, “Partnerships and Connected Technology Vital to Smart City Buildouts”, I had the pleasure of interviewing Debra Lam, Managing Director of Smart Cities and Inclusive Innovation at Georgia Institute of Technology (Georgia Tech). We discussed its Georgia Smart Program (AKA: Georgia Smart) that was unveiled in 2018 with support from Georgia Power, a subsidiary of Southern Company.
Let me introduce you to our reimagined, redesigned, and renamed monthly publication. But first, I should introduce myself: I am Vanessa Edmonds, the Utility 2030 Collaborative’s Executive Director. And at beginning with our December 2020 monthly publication, we will give you more rich and actionable insights—from a diverse group of thought-leaders—to help you build a …
We’ve all heard the story of the woodcutter who—while clunkily trying to chop down a tree—was approached by a young man who asked, “What are you doing?”
The woodcutter replied with a “duh” version of, “I’m cutting down this tree.”
“You look exhausted,” responded the young man. “Take a break. Sharpen your axe.”
If you ask people to define a smart city, you will learn that it means different things to different people and can vary from city to city and country to country. Regardless of individual definitions, one truth prevails: smart city projects are imperative to utility industry transformation, allowing utility companies to survive and thrive—all while maintaining safety—over the next ten years and beyond.
In April 2018, I wrote an article for Energy Central called, The Day a Man Named Stan Called Me Tiffany: The Importance of Personalization. I framed the topic with a humorous experience I had at a New York City restaurant that I frequented. The waiter, his name is “Stan”, called me “Tiffany” and since that isn’t my name, I explained how his mistake lowered my tolerance for the average food served in this establishment, specifically the egg rolls. They had an aftertaste that I didn’t really notice until he called me by the wrong name.