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Utilities prioritize grid modernization while tackling challenges associated with grid data management and cybersecurity
Burnaby, British Columbia--(Newsfile Corp. - April 29, 2025) - Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) ("Tantalus" or the "Company"), a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, announced the findings of its third annual Utility of the Future Survey at the Tantalus Users Conference today in Indianapolis, Indiana. Fielded between January 2025 and April 2025, the survey includes responses from 103 utilities across North America and reflects their concerns, priorities, and levels of preparedness in confronting the challenges of grid modernization.
Similar to last year, nearly three out of four utilities (74%) identified grid modernization as a priority. However, even as more utilities embrace grid modernization, only 1 in 11 feel prepared to address future challenges, leading to an increasing demand for support from trusted vendors and partners.
The survey also revealed that grid data management and cybersecurity remain the top two challenges confronting utilities. Despite those concerns, only 3% of utilities feel completely prepared to tackle grid data management while only 5% of utilities feel completely prepared to tackle cybersecurity.
"Utilities are embracing the need for grid modernization and understand the level of transformation required-particularly around grid data management, cybersecurity and the importance of prioritizing capital expenditures to upgrade and protect critical infrastructure, such as distribution transformers," said Peter Londa, Tantalus President & CEO. "As we move forward, Tantalus remains committed to helping utilities bridge the grid modernization readiness gap. Our purpose-built solutions help utilities harness the power of data, leverage as much of their existing infrastructure as possible, and achieve the most cost-effective path to developing even more reliable and resilient distribution grids."
Additional findings include:
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Extreme weather events continue to rise as a top concern for the third year in a row. It is now among other top concerns, including hiring and retaining staff, demonstrating a need to rely on trusted partners to supplement resources in order to improve their preparedness.
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Meeting customer expectations related to grid reliability and resilience also witnessed a material increase in concern compared to prior years.
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While 37% of utilities cited economic volatility as either a top concern or an extreme concern, only 3% said they feel completely prepared to deal with that economic volatility. (Note: The vast majority of responses were gathered prior to the recent enactment of global tariffs in the U.S. which are leading to higher prices.)
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Meanwhile, the need for continued innovation and regulatory pressures each declined slightly in level of urgency from 2024 to 2025.