66% of Utility Execs Call Industry ‘Operationally Innefficient’

Some 66 percent of utility executives say their industry is not operationally efficient, while virtually all say that government regulation is hampering infrastructure investment, according to the Itron Resourcefulness Index.

According to 94 percent of utility executives, current regulation and lack of clarity around regulation is a top barrier to infrastructure investment. Utility executives list dealing with new regulations — or the possibility of new regulations — as the number one challenge for the industry.

Six in 10 executives say infrastructure investment is a top concern. With some 7 billion liters of water are lost each day in the US due to leaking pipes, nearly 60 percent of utility executives say they would invest in technology if they had an increased budget and 75 percent say effectively managing big data is critical to modernizing infrastructure.

However, just 7 percent say they are ready to handle big data.

Additionally some 94 of utility executives say the industry needs to be transformed.

Itron surveyed more than 600 utility executives and 800 consumers across 14 countries to measure perceptions on issues critical to the operation of gas, water and electric utilities.

Last March, Itron announced plans to provide its automated water metering products to the Las Vegas Valley Water District and the City of San Diego’s Public Utilities Department.