At this year's recently held Minnesota Power Systems Conference (MIPSYCON), Pioneer found strong validation for its commitment to nurturing long-term relationships with utilities and supply partners.
Multiple presentations emphasized the pivotal role of early partnership establishment in project lifecycles to ensure the seamless procurement of materials and essential resource support for tackling the ambitious renewable energy objectives the industry faces.
A discussion presented by the Executive VP of Supply Chain at Border States around the enduring supply chain challenges utilities experience, exacerbated by the pandemic, provided a key datapoint that bolsters this premise.
In a recent study encompassing 1,200 organizations, it was found that trust-based relationships made a significant 40% difference in cost savings for industry leaders navigating the uncertainties of the supply chain.
In addition to cost savings, another significant advantage arising from these collaborations is the creation of an expansive network, facilitating the maintenance of a locally sourced talent pool and resources. This aligns with the growing emphasis on such initiatives by Public Utilities Commissions (PUCs).
It is important to recognize that while this approach may entail higher initial project costs, it serves as a safeguard against the worst-case scenario of securing materials and resources only when they are urgently required. This approach prevents utilities from being at the mercy of fluctuating labor markets and volatile supply chains.
These insights rang true from the perspective of Pioneer’s own capital project planning and execution services. Our most successful partnerships in recent years have been the ones in which we are brought in early within a project’s lifecycle, and are able to right-size our teams with the needs of our clients.
Pioneer is committed to fostering partnerships with all facets of the electric utility industry, not only to support organizations’ key strategic initiatives, but to also create connections within our network of trusted industry allies.