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Utility Tips for Maintaining Financial Resilience During and After a Pandemic
Author(s) -
Karnovitz Alan,
Johns Grace,
Kiefer Jack C.
Publication year - 2021
Publication title -
journal ‐ american water works association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.466
H-Index - 74
eISSN - 1551-8833
pISSN - 0003-150X
DOI - 10.1002/awwa.1707
Subject(s) - resilience (materials science) , pandemic , business , staffing , debt , finance , structuring , covid-19 , psychological resilience , triage , economics , medicine , emergency medicine , physics , disease , management , pathology , infectious disease (medical specialty) , thermodynamics , psychology , psychotherapist
Key Takeaways Many water and wastewater utilities effectively took a “triage” approach to addressing initial COVID‐19–related disruptions but should reassess practices to ensure long‐term financial resilience. Although the short‐term financial effects of the pandemic varied widely among utilities, related economic and financial uncertainties will likely persist, with potentially long‐term impacts. Utilities should implement a phased post‐pandemic strategy encompassing scenario planning, rate structures, consumer assistance programs, staffing and training, debt structuring, and smart technologies. Regardless of its financial impact, the COVID‐19 pandemic has demonstrated the vulnerabilities of all sectors, including the water sector, to large disruptive events; stronger financial resilience is recommended.