Arcadis has published a new collection of insights highlighting five fundamentals for utilities to successfully navigate aging infrastructure, a changing workforce and increasingly intense shocks to their systems. “Building a fit-for-future utility” outlines how utilities can optimise costs and avoid unsustainable rate increases.
Arcadis compiled data from surveys of water professionals and research from the past three years. The findings centre on five elements of fit-for-future utilities: innovation, resilience, advanced asset management, intelligent water and the workforce. The needs of people, including employees, customers and stakeholders, were paramount in all five areas. Familiar challenges to the water industry, including the upcoming wave of retirements, lack of diversity and rate increases, were accounted for in forming the recommendations for how utility leaders can address challenges.
Arcadis client development director, Tanya McCoy-Caretti said: “Utilities are fighting an uphill battle against emerging challenges. From transforming their workforce and addressing aging infrastructure, to embracing digitalisation or accounting for the effects of climate change, our research has consistently shown that water utilities are aware of future stressors, but their roadmap to resilience remains a challenge to complete.”
Research shows less than 15% of utilities feel equipped to fully cover costs of providing service in the future. Despite the EPA’s announcement that the Water Infrastructure Finance and Innovation Act will facilitate more than $12 billion in water infrastructure projects and the Biden administration’s proposed $111 billion in water infrastructure investment within the American Jobs Plan, optimising available funding to bridge the gap and meet ever-growing needs will remain critical as utilities modernise their operations.
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