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UK Utilities Risk Report 2024

The environmental, societal, technological and political trends most likely to put water and energy companies’ businesses at risk.
Electricity transmission towers with orange glowing wires the starry night sky. Energy infrastructure concept.

Marsh McLennan is proud to be partnering with Utility Week for the third consecutive year to develop insights into the rapidly changing risk landscape faced by the UK utilities industry.

Drawing from an extensive survey of senior leaders at energy and water utilities, combined with in-depth interviews, the UK Utilities Risk Report 2024 offers a comprehensive analysis of the major risks anticipated over the next five to ten years with insights on steps to mitigate their impact.

Cybersecurity, slow policy evolution and geopolitical volatility, have emerged as the top risks facing utility companies. 

  • Digital and security risks: Implement robust cybersecurity measures proactive risk management strategies to maintain operational efficiency.
  • Policy and regulatory risks: Navigate regulatory complexities and geopolitical volatility to ensure compliance and mitigate risks in the utility industry.
  • Societal risks: Address societal risks faced by utility companies, such as mental health issues and wage disparities, to maintain a positive reputation and address public concerns.
  • Investment and skills risks: Manage skill shortages, adapt to regulatory changes, and drive digital transformation to thrive in a rapidly evolving industry.
  • Environmental risks: Understand and mitigate the impact of climate change on the utility industry.

This report highlights the interconnected nature of the above risks. Recognising the complexity and interdependencies of these risks is essential for developing a holistic approach to your risk mitigation strategies.

At Marsh McLennan, we help our clients successfully navigate complex risk landscapes through drawing on our extensive industry knowledge and cross-sector expertise. Get in touch to find out how we can support you.

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