First Read Viewpoint: This summer, millions went without power in India’s largest outage in history, and currently, hurricane season still threatens the Gulf coast. Now more than ever, concerns about power delivery in extreme weather are real and increasing.
We’ve all heard the cliché “time is money,” but it is especially true for providers of electricity. Every minute that power is out equals lost revenue. For large investor owned utilities (IOUs), the potential impact of storms can reach tens of millions of dollars annually. Quite often, smaller utilities do not have funds to set aside for these types of extreme events so they can take a hit on city and utility operations.