IMPACT OF COVID-19 ON THE ENERGY AND UTILITIES SECTOR

 The COVID-19 epidemic is the world's most serious public health crisis in recent memory. It has resulted in a significant loss of human life and has impacted millions of people around the world. The epidemic, however, is far more than a health emergency; the economic and social dislocation it causes is genuinely devastating. It has had a significant impact on practically every industry area, including retail, automobiles, and utilities.

The influence of the pandemic on electric utility operations is the subject of this article. We know from experience that utilities provide consistent revenues even when the economy is slowing. When the pandemic broke out in the first quarter of 2020, however, industrial activity was reduced, non-essential commercial activities were nearly halted, and all modes of transportation were put on pause. This has a tremendous impact on various aspects of the utility industry. Reduced demand, worker safety, and the need for digital transformation are all factors that have an impact on utilities.

READ MORE :- https://www.pukkapartners.com/insight/impact-of-covid-19-on-the-energy-and-utilities-sector

Accelerate new ways of working, automation, and digitalization

COVID-19's experience will almost probably hasten the adoption of new working methods, automation, and digitalization. Companies that are further along the digitalization curve have already reaped the benefits of increased built-in robustness during the crisis, lowering their reliance on human resources. Companies will be better equipped to sustain business continuity in their supply chains, operations, and customer management if they invest more in these areas, decreasing the burden on their workforces.

The experience of virtualization and new ways of working by personnel during the pandemic lockdown will have aided technological transformation. It is likely to hasten the transition to a more mobile workforce, capable of working electronically and from afar. Companies will want to think about what worked effectively throughout the crisis and how they may improve staff efficiency and flexibility in the future.

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