Why They Wanted to Innovate? Because It is There

Deck: 

Fortnightly Top Innovators

Byline: 

Steve Mitnick

Author Bio: 

Steve Mitnick has authored four books on the economics, history, and people of the utilities industries. While in the consulting practice leadership of McKinsey & Co. and Marsh & McLennan, he advised utility leaders. He led a transmission development company and was a New York Governor’s chief energy advisor. Mitnick was an expert witness appearing before utility regulatory commissions of six states, D.C., FERC, and in Canada, and taught microeconomics, macroeconomics, and statistics at Georgetown University.

Fortnightly Magazine - October 2023

When asked why he wanted to climb Mount Everest, George Leigh Mallory (and not Edmund Hillary) famously said, "because it is there." I thought of that inspiring line when wondering why this year's Fortnightly Top Innovators wanted to innovate. Is it because the challenge, and the fruits of conquering it, were right there before them, beckoning them? 

And if so, which mattered the most? That the challenge was so tall? That the fruits from the conquest were so rewarding? That the challenge was so close to you, you could taste it, yet distant to others? 

This construction of why the Top Innovators wanted to innovate, however, supposes climbing to the peak is a choice, made with considerable enthusiasm, but a choice, nonetheless. Though it is, I think, better thought of as this. That innovating in today's utilities isn't a choice. Utilities are compelled to innovate. As if, Hillary not ascending to Everest's peak would have significantly diminished him.

That utilities these days consider it a necessity to innovate is quite evident. The Public Utilities Fortnightly team witnessed this, this summer, when so many Top Innovator nominations arrived at our doorstep. And witnessed this again when our Top Innovator selections were announced with celebrations by the awardees and their colleagues.

Some say if our utility does not innovate, continually and fervently, it literally cannot reach its climate change and other strategic goals. Some say if our utility does not innovate, it will fail to create a credible culture of innovation that is mandatory in the roaring twenty twenties to attract and retain the best workforce talent. Some say if our utility does not innovate, it shall be downgraded by markets, partners, and the public.

So, utilities very much want to innovate. And so, stars at utilities can be sure to strive for new developments that reimagine utility service, transform the customer relationship, strengthen resilience and reliability, while at the same time slashing emissions, and all the while maintaining customer affordability.

This year's Top Innovators, from fourteen different utilities, exemplify the courage, grit, and creativity of contemporary energy explorers.

 

Top Innovators articles at fortnightly.com: