Survey: Executives See Looming Energy Crisis, Say Need for Generation and Transmission Infrastructure

June 11, 2009

McGuireWoods Surveys Energy Executives on Energy Outlook in US

While 85 percent of utility company executives in the United States predict that this country will see an energy crisis in the next five years, more than two-thirds of those executives say such a crisis can be averted if lawmakers make it easier for energy providers to invest in infrastructure improvements. These findings are part of an exhaustive energy study commissioned and released by McGuireWoods LLP.

Among the other findings of the survey, one-third of the respondents found that energy conservation and use energy efficient products will help satisfy the increased demand for energy in the coming years, yet only a fraction (two percent) believed that conservation and energy efficiency will help avert an energy crisis.

“The results of the survey were fascinating to us, and give us a good snapshot of what energy policy may look like in the near future for our country” said Joanne Katsantonis, chair of the Energy & Utilities practice at McGuireWoods. “Energy executives told us that an energy crisis can be averted, but it won’t be easy. It will take a commitment from all parties, including law and policymakers, energy providers and the public to make that work. Our challenge is to help facilitate that debate and find solutions for our clients.”

The survey, which was finalized late in the fourth quarter of last year, surveyed 249 CEOs of utility companies throughout the United States. For additional information, or to request a copy of the survey highlights, please contact Joanne Katsantonis, chair, Energy & Utilities practice at McGuireWoods. She can be reached at 804.775.1017.