Utility Leadership: When Every Dollar Shows Up on the Bill

For a long time, utility leaders could rely on a simple story. Demand would grow slowly, capital plans would move through the usual channels, and rate cases would be tough but manageable. That is no longer the story. This past week made that plain. Utility Dive reported that investor-owned utilities plan to spend about $1.4 trillion through 2030, up roughly 21% from last year’s five-year plans. At the same time, Reuters reported Duke Energy’s request to recover more than $800 million in winter fuel and purchased-power costs in North Carolina. Put those two facts together, and the problem comes into focus. Utilities need to build. Customers are already tired of hearing why the next bill has to be higher. Middle managers and senior leaders are caught in the middle of that tension, and how they handle it will shape the industry’s standing with regulators, boards, and the public.