Many utility companies across Europe already rely on accurate and reliable weather forecasts to help overcome daily planning and operational challenges. But as a result of climate change, the sector faces new and emerging challenges, meaning the pressure is growing on industry leaders to mitigate the impact severe weather events have on the business.
According to a global study of utility executives by Accenture, 95% of respondents believed climate change contributed to the rise in extreme weather events experienced by their organisations over the last decade. When asked about the impacts, 90% said it posed an increased financial risk to their business. Regarding network operations and safety, 73% felt extreme weather was a significant challenge. Just 24% indicated they were very well prepared to deal with increased weather impacts. When thinking about future weather risks, 92% expected them to increase over the next 10 years.