UTILITY CONSTRUCTION OUTLOOK
For utilities and their service providers alike, the target “pace” to maintain a profitable return in real dollars has been set at the fastest level in almost forty years.
In this paper, Dan Shumate, J.D, MBA Managing Director, Utility & Communications Infrastructure, at FMI Corporation shares challenges and opportunities on these three major topics:
Utility & Communication Infrastructure Opportunity
- Grid Resilience & Hardening
- Partner to Energy Transition
- Repair & Replacement of Aging Infrastructure
Headwinds Impacting The Installation & Maintenance of Infrastructure
- Labor & Skill Shortages
- Inflation
- Procurement & Contract Challenges
- Supply Chain
Meeting The Challenge: Development, Productivity & Innovation
- Training & Development
- Productivity & Innovation
EXCERPT FROM THE OUTLOOK:
The consumer price index increased 9.1% year-over-year in June of 2022 and the companies serving the utility industry are challenged with growing profit at a pace greater than inflation to preserve purchasing power.
The companies that build and maintain utility and communication infrastructure have a daunting task; however, the opportunity to exceed the pace set by inflation is actionable due to current infrastructure needs, a long-term energy transition and the ingenuity that is thriving in the sector.
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