POWERING FORWARD

ENERGY AND UTILITIES HELP PROPEL THE ECONOMY, BUSINESS

The energy and utility sector plays a pivotal role in driving economic development, job creation, technological progress and revenue generation — with farreaching implications in helping propel the economy and businesses forward.

The energy sector primarily consists of companies that play a role in extracting, refining or producing sources of energy. Utility companies, on the other hand, focus on providing their customers with electricity, water and other public utilities.

Yet, according to a report by PwC, energy and utility companies share a common desire with their customers in 2023: affordability. “Homeowners, families and workers want to make their hard-earned dollars stretch even further while prices for products and services remain high,” the report states. “Commercial and industrial customers want to curb costs while supply chain and labor concerns are still a factor.”

According to the PwC, the industry’s strategic reinventors will continue to explore new ways to balance these important goals with 2023’s real obligations and uncertainties. Opportunities are expected through reinvention, which could mean continuing to explore new services, offerings and strategic business relationships. It may also come from reinvesting in the business — from embracing new technologies that help serve customers better or operating at a lower cost to expanding environmental, social and governance (ESG) goals.

In this issue of the MBA Business Magazine, we’ll explore the powerful impact of the energy and utility sector and ways that it is helping propel the economy and business forward. Specifically, we’ll hear from Mike Colpoys of National Fuel on why natural gas is Pennsylvania’s reliable energy solution. We’ll also talk to Paul Vojtek of Erie Water Works on how EWW is tapping into economic growth in the Greater Erie region.

Plus, don’t miss our expert articles on how to choose an alternative energy supplier in Pennsylvania or the best ways to mitigate rising energy costs.

The MBA is proud to offer MBA members a viable energy program to assist with their energy solutions through MBA EnergyAdvisors. To learn more, visit mbausa.org.