Boosting Management Assurance: PowerUP 2024 Key Insights

At the Chartwell PowerUP 2024 conference, a significant emerging trend was highlighted: the shifting role of utility executives toward management assurance. This change reflects a broader understanding that utilities are not just providers of electricity but also cornerstones of public safety. As the frequency of major events increases, utility executives are increasingly focused on engaging the public effectively, ensuring preparedness, and assuring stakeholders of their capabilities in managing storm damage and restoring power.

Expanded Responsibilities

The role of utility executives now extends beyond traditional responsibilities. During major events, they must engage the public by providing clear, timely communication about ongoing situations and anticipated power restoration. This engagement is crucial for maintaining public trust and managing expectations. Executives must also demonstrate their preparedness by having robust plans and resources in place, such as hardened facilities and augmented customer support systems, to ensure continuity of service during crises.

Assuring Stakeholders

Assuring stakeholders of a utility’s capability to manage pre-, post-, and during-storm damage involves comprehensive disaster management strategies. While these responsibilities traditionally fell to local or federal agencies like FEMA, there is a growing expectation for utilities to take on these roles, providing direct support during emergencies. This shift underscores the necessity for utilities to be proactive and innovative in their approach to resilience.

Financial Implications

However, the financial implications of these enhanced roles are significant. For instance, at PG&E, mandated programs constitute 31% of the customer bill, and additional costs for emergency management and resilience could further increase rates. This raises concerns about affordability for customers. To address these challenges, utilities must align with regulators and innovate in their resilience strategies, ensuring they can effectively respond to emergencies without excessively burdening customers. This delicate balance between resilience and affordability is critical for the future of utility management.

Conclusion

The Chartwell PowerUP 2024 conference emphasized the evolving role of utility executives in management assurance. By engaging the public, ensuring preparedness, and managing comprehensive disaster strategies. However, achieving this requires careful consideration of financial impacts and innovative approaches to balance resilience with customer affordability.

DataCapable

At DataCapable, we know that utility providers strive to ensure public safety and maintain trust during major events. Our Outage and Event Map Software gives all stakeholders a visual platform that not only tracks and reports utility outages but also offers a range of functionalities for both users and administrators such as tracking the status of other critical infrastructure elements. We’re here to equip you with the essential tools to communicate effectively, manage resources efficiently, and restore power swiftly. Transform your utility’s resilience with DataCapable. Schedule a demo today!