The Big Build will test the industry’s access to Wall Street.
Bob Ford is Americas power and utilities sector leader at Ernst & Young Americas Power & Utilities Center in Washington D.C. Email him at firstname.lastname@example.org. Joseph Fontana is global utilities and power industry leader, transaction advisory services at Ernst & Young. Email him at email@example.com. Patrick Cass is the leader of the energy and utility industry for Ernst & Young’s North Central United States Region. Email him at firstname.lastname@example.org.
The U.S. power and gas industries are—in common with the rest of the world—witnessing the most revolutionary period of change since the first utility systems were built. The era of easily available, affordable energy rapidly is ending and our society is realizing that our energy infrastructure is severely inadequate to supply the energy demands of the future. The major issue facing the sector today is how to fund and deliver this new climate-friendly infrastructure, which is currently estimated will cost almost $2 trillion 1 between now and 2030.
To be successful, the energy stakeholders in the United States must collaborate to bring affordable power to everyone. A successful end result will require creative financing structures and techniques; tax incentives; enabling legislation for new nuclear facilities, renewable and environmental requirements; and new grid technologies to lower and shape the system load, improve reliability and deliver more of the power produced.