{"id":97898,"date":"2024-05-28T17:02:07","date_gmt":"2024-05-28T15:02:07","guid":{"rendered":"https:\/\/www.KGM Strategy.com\/?p=97898"},"modified":"2024-09-16T10:06:25","modified_gmt":"2024-09-16T08:06:25","slug":"navigating-the-power-cable-supply-crunch","status":"publish","type":"post","link":"https:\/\/www.KGM Strategy.com\/en\/insights\/navigating-the-power-cable-supply-crunch\/","title":{"rendered":"Navigating the power cable supply crunch: A resilience framework for electricity transmission and distribution companies"},"content":{"rendered":"<div class=\"anchor-navigation \" style=\"background: #ffffff; color: rgb(255,255,255);background-image: linear-gradient(to right, var(--bs-terciary), var(--bs-secondary));\" data-sticky=\"false\">\n    <ul class=\"list-unstyled\"><\/ul>\n<\/div>\n\n<p><div class='container  py-3'><div class=\"row \"><div class=\"col-lg-12\"><p><span style=\"color: #004146;\"><strong>Electricity utility companies are at a pivotal moment of challenge and opportunity. Concerns about the looming cable supply crunch are being intensified by a multitude of demand- and supply-side factors. Discover below our resilience framework for electricity utility companies \u2013 emphasizing high-impact levers that can be used to ensure supply stability, cost-efficiency and, strengthened partnerships in today\u2019s volatile markets.<\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>The indispensable role of cables: Powering modern society<\/h2>\n<p>Electrical power cables within grid networks are foundational to modern economies and society. As the developed world looks to achieve carbon neutrality \u2013 with the EU targeting a 42.5% share of renewable energy by 2030, while the UK strives for 100% carbon-free electricity by 2035 \u2013 cables are essential to the seamless flow of clean electricity. Given the targets and the <a href=\"http:\/\/www.bcg.com\/insights\/2022\/the-future-of-energy\">energy trilemma<\/a>, electricity utility companies must urgently secure future cable supplies.<\/p>\n<p>With a strong trend towards sustainability, there are an ever-increasing number of renewable energy projects. In turn, that\u2019s increased the demand for power cables exponentially. The high-voltage (HV) cable market, alone, has grown by 22.6% in the last year. Yet, there\u2019s a major lack of supply, which is creating significant challenges.<\/p>\n<p>Indeed, numerous projects have already been postponed:<\/p>\n<ul class=\"checklist\">\n<li>In the US, a major Nordic renewable energy company has abandoned two offshore wind projects due to supply chain challenges and a lack of available critical equipment. With a combined planned capacity of 2,248 MW, these would have powered over 1.5m homes a year.<\/li>\n<li>The UK faces similar challenges. According to BBC estimates, there are over \u00a3200 billion worth of projects waiting to be connected to the grid. That\u2019s despite a commitment to 100% carbon-free electricity by 2035, according to the sixth Carbon Budget. Leading energy companies have been told that some connections may take up to 15 years, far beyond that target.<\/li>\n<\/ul>\n<p>Failing to address these bottlenecks raises environmental and financial concerns<strong>.<\/strong> Every delay intensifies the already critical climate crisis, adding strain to global sustainability efforts. Meanwhile, utility companies risk penalties, diverting funds away from investment in renewable energy.\u00a0Such companies stand at a decisive crossroads. It\u2019s imperative they can secure the cable necessary to develop, strengthen, and grow their networks.<a href=\"#_ednref1\" name=\"_edn1\"><\/a><\/p>\n<div id=\"whats-impacting-the-industry\" class=\"anchor\" data-name=\"What's impacting the industry\"><\/div>\n<h2>A global phenomenon: The unseen crisis in electricity transmission and distribution<\/h2>\n<p>Various sectors are experiencing rising demand for<a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/smi-14\/critical-raw-materials-act\/\"> critical raw materials<\/a> needed in cable production. Industries such as <a href=\"https:\/\/www.KGM Strategy.com\/en\/industries\/automotive\/\">automotive<\/a>, <a href=\"https:\/\/www.KGM Strategy.com\/en\/industries\/technology-media-telecommunications\/\">telecommunications<\/a>, and digital infrastructure will continue to compete for these resources. Although we have seen a relative increase in raw material prices of nearly 8% over the last four years, average end-product prices have surged by 21% in the same period, as illustrated in Chart 2. This difference results from supply failing to meet demand, leading to higher profit margins for cable manufacturers. This is evidenced by their growing EBIT (Earnings Before Interest and Taxes) and expanding order books.<\/p><\/div><\/div><\/div><div class='container  py-3'><div class=\"row \"><div class=\"col-lg-6\"><p><strong><span style=\"color: #a0d60a;\">\/\/<\/span> <span style=\"color: #004146;\">Chart 1: Average cable and conductor type total cost breakdown<\/span><\/strong><\/p>\n<p><em>Source: Beroe advantage procurement category intelligence on cables (June 2023)<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-101113 size-full\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik-1_Raw_Material.png\" alt=\"Chart showing the average total cost breakdown of different cable and conductor types.\" width=\"1575\" height=\"1575\" srcset=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik-1_Raw_Material.png 1575w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik-1_Raw_Material-630x630.png 630w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik-1_Raw_Material-250x250.png 250w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik-1_Raw_Material-768x768.png 768w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik-1_Raw_Material-1536x1536.png 1536w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik-1_Raw_Material-75x75.png 75w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik-1_Raw_Material-450x450.png 450w\" sizes=\"auto, (max-width: 1575px) 100vw, 1575px\" \/><\/p><\/div><div class=\"col-lg-6\"><p><span style=\"color: #004146;\"><strong><span style=\"color: #a0d60a;\">\/\/<\/span> Chart 2: Cable, conductor, and raw material indexed prices development (2020-2024)<\/strong><\/span><\/p>\n<p><em>Source: KGM Strategy analysis and FRED indices (April 2024)<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-101477 size-full\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik_2_New-cable-supply-crunch.png\" alt=\"Line chart showing the development of indexed prices for cables, conductors, and raw materials from 2020 to 2024.\" width=\"1769\" height=\"712\" srcset=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik_2_New-cable-supply-crunch.png 1769w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik_2_New-cable-supply-crunch-800x322.png 800w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik_2_New-cable-supply-crunch-1400x563.png 1400w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik_2_New-cable-supply-crunch-768x309.png 768w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/Grafik_2_New-cable-supply-crunch-1536x618.png 1536w\" sizes=\"auto, (max-width: 1769px) 100vw, 1769px\" \/><\/p><\/div><\/div><\/div><div class='container  py-3'><div class=\"row \"><div class=\"col-lg-12\"><p>&nbsp;<\/p>\n<h3>The cable supply crunch: A dual-sided dilemma<\/h3>\n<p>The decoupling of price and cost has been driven by a range of supply and demand factors.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"container  \" id=\"ac1\" is=\"accordion\">\n    <div class=\"row accordion\">\n        \n                    <div class=\"accordion col-12 col-md-6\">\n                <div class=\"accordion-header\" id=\"heading-ac1-0\" style=\"background-color:#004146;color:#ffffff;\">\n                    <button class=\"accordion-button collapsed lightBackground\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse-ac1-0\" aria-controls=\"collapse-ac1-0\" aria-expanded=\"false\" style=\"background-color:#004146;color:#ffffff;\">\n                        <span class=\"accordion-button-label\">\n                             <span>Demand-side pressures<\/span>\n                        <\/span>\n                    <\/button>\n                <\/div>\n                <div id=\"collapse-ac1-0\" class=\"accordion-collapse collapse\" aria-labelledby=\"heading-ac1-0\" data-bs-parent=\"#ac1\">\n                    <div class=\"accordion-body\">\n                        <ol>\n<li><strong>Technological advancements:<\/strong>\u00a0The rise of 5G technology and the electric vehicle revolution have boosted demand for cable.<\/li>\n<li><strong>Ageing infrastructure:<\/strong> Approximately 75% of US transmission lines need replacing \u2013 at a projected cost of around $700billion. Europe also needs vast amounts of cabling to upgrade infrastructure from the 1940s and 1950s.<\/li>\n<li><strong>Rapid urbanization:<\/strong> Emerging markets \u2013 particularly Southeast Asia and Africa \u2013 are making major grid expansions, with plans to significantly boost grid capacity over the next decade.<\/li>\n<li><strong>Renewable energy integration: <\/strong>Renewable sources, such as wind turbines, require 3-4 times more cables on a per MW basis than conventional sources.<\/li>\n<\/ol>\n\n                    <\/div>\n                <\/div>\n            <\/div>\n                    <div class=\"accordion col-12 col-md-6\">\n                <div class=\"accordion-header\" id=\"heading-ac1-1\" style=\"background-color:#004146;color:#ffffff;\">\n                    <button class=\"accordion-button collapsed lightBackground\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse-ac1-1\" aria-controls=\"collapse-ac1-1\" aria-expanded=\"false\" style=\"background-color:#004146;color:#ffffff;\">\n                        <span class=\"accordion-button-label\">\n                             <span>Supply-side pressures<\/span>\n                        <\/span>\n                    <\/button>\n                <\/div>\n                <div id=\"collapse-ac1-1\" class=\"accordion-collapse collapse\" aria-labelledby=\"heading-ac1-1\" data-bs-parent=\"#ac1\">\n                    <div class=\"accordion-body\">\n                        <ol>\n<li><strong>Labor constraints: <\/strong>The global market faces a severe skills gap in manufacturing. The US potentially needs more than<br \/>\n2.1 million skilled workers by 2030. The UK\u2019s job vacancies hit a record 1.3 million in early 2022 and remain high, albeit below <br \/>1 million since August<a href=\"#_edn2\" name=\"_ednref2\"><\/a>.<\/li>\n<li><strong>Slow factory capacity ramp-up:<\/strong> It takes 2-3 years on average for a cable factory to become fully operational, due to extensive testing requirements.<\/li>\n<li><strong>Volatile raw material prices:<\/strong> A surge in aluminum and copper prices, which make up roughly 50% of the total cost. Other factors \u2013 such as China&#8217;s demand resurgence and competition with other industries for resources \u2013 are projected to elevate copper prices from the current $8,400 per ton to $15,000 by 2025.<\/li>\n<li><strong>Geopolitical instabilities:<\/strong>\u00a0The China-US trade tensions have added complexity to the industrial goods sector. The US Chamber of Commerce says they\u2019ve inflated imported goods\u2019 costs by 12%, straining an already burdened supply chain.<\/li>\n<\/ol>\n\n                    <\/div>\n                <\/div>\n            <\/div>\n            <\/div>\n<\/div>\n\n\n\n<p>&nbsp;<\/p>\n<p>Major cable manufacturers predict they will soon run out of capacity. High Voltage Direct Current (HVDC) cables are particularly at risk \u2013 with significant constraints through to 2030 and beyond. KGM Strategy forecasts that this demand-supply gap will endure. Market analyses \u2013 with macroeconomic and geopolitical factors \u2013 predict that demand will outstrip supply by a margin exceeding 6% over the next five years.<\/p>\n<p>Given these projections, it\u2019s imperative that utility companies develop resilient strategies that can adapt to and exploit the evolving market dynamics.<\/p>\n<p>&nbsp;<\/p>\n<div id=\"projections-solutions\" class=\"anchor\" data-name=\"Projections &amp; solutions\"><\/div>\n<h2>In this volatile landscape, how can electricity companies secure reliable cable supplies while optimizing costs?<\/h2>\n<div is=\"tab-content\">\n    <div class=\"tabs responsive-tabs container is-style-leading_numbers overflow-visible\">\n        <div class=\"row \">\n            <div class=\"col-md-4 navContainer\">\n                <ul class=\"nav nav-tabs-02\" role=\"tablist\">\n                                            <li class=\"nav-item\" role=\"presentation\">\n                                                            <div class=\"bg-circle \"\n                                                                                style=\"background-color: #a0d60a\"\n                                                                    >\n                                                                            1\n                                                                    <\/div>\n                                                        <button class=\"trigger-button active\" id=\"btn-tab-2-0\" data-bs-toggle=\"tab\" data-bs-target=\"#tab-2-0\" type=\"button\" role=\"tab\" aria-selected=\"true\">\n                                <span class=\"trigger-button-title\">Leverage a robust supplier base<\/span>\n                            <\/button>\n                        <\/li>\n                                            <li class=\"nav-item\" role=\"presentation\">\n                                                            <div class=\"bg-circle \"\n                                                                                style=\"background-color: #a0d60a\"\n                                                                    >\n                                                                            2\n                                                                    <\/div>\n                                                        <button class=\"trigger-button\" id=\"btn-tab-2-1\" data-bs-toggle=\"tab\" data-bs-target=\"#tab-2-1\" type=\"button\" role=\"tab\" aria-selected=\"true\">\n                                <span class=\"trigger-button-title\">Capitalize on financial commitments<\/span>\n                            <\/button>\n                        <\/li>\n                                            <li class=\"nav-item\" role=\"presentation\">\n                                                            <div class=\"bg-circle \"\n                                                                                style=\"background-color: #a0d60a\"\n                                                                    >\n                                                                            3\n                                                                    <\/div>\n                                                        <button class=\"trigger-button\" id=\"btn-tab-2-2\" data-bs-toggle=\"tab\" data-bs-target=\"#tab-2-2\" type=\"button\" role=\"tab\" aria-selected=\"true\">\n                                <span class=\"trigger-button-title\">Direct procurement from OEMs<\/span>\n                            <\/button>\n                        <\/li>\n                                            <li class=\"nav-item\" role=\"presentation\">\n                                                            <div class=\"bg-circle \"\n                                                                                style=\"background-color: #a0d60a\"\n                                                                    >\n                                                                            4\n                                                                    <\/div>\n                                                        <button class=\"trigger-button\" id=\"btn-tab-2-3\" data-bs-toggle=\"tab\" data-bs-target=\"#tab-2-3\" type=\"button\" role=\"tab\" aria-selected=\"true\">\n                                <span class=\"trigger-button-title\">Develop long-term partnerships with key suppliers<\/span>\n                            <\/button>\n                        <\/li>\n                                            <li class=\"nav-item\" role=\"presentation\">\n                                                            <div class=\"bg-circle \"\n                                                                                style=\"background-color: #a0d60a\"\n                                                                    >\n                                                                            5\n                                                                    <\/div>\n                                                        <button class=\"trigger-button\" id=\"btn-tab-2-4\" data-bs-toggle=\"tab\" data-bs-target=\"#tab-2-4\" type=\"button\" role=\"tab\" aria-selected=\"true\">\n                                <span class=\"trigger-button-title\">Standardize specifications<\/span>\n                            <\/button>\n                        <\/li>\n                                    <\/ul>\n            <\/div>\n            <div class=\"col-lg-8 col-xl-7\">\n                <div id=\"tab-2--tabContent\" class=\"tab-content tab-content-type-02\" role=\"tablist\">\n                                            <div class=\"tab-pane fade card show active\" id=\"tab-2-0\" role=\"tabpanel\" aria-labelledby=\"btn-tab-2-0\">\n                            <div class=\"card-header\" role=\"tab\" id=\"heading-tab-2-0\">\n                                <button class=\"trigger-button trigger-button--icon\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse-tab-2-0\" aria-controls=\"collapse-tab-2-0\" aria-expanded=\"true\">\n                                                                            <div class=\"bg-circle \"\n                                                                                                style=\"background-color: #a0d60a\"\n                                                                                        >\n                                                                                            1\n                                                                                    <\/div>\n                                                                        <span class=\"trigger-button-title\">Leverage a robust supplier base<\/span>\n                                    <i class=\"icon icon-arrow-right\"><\/i>\n                                <\/button>\n                            <\/div>\n                            <div id=\"collapse-tab-2-0\" class=\"collapse show\" data-bs-parent=\"#tab-2--tabContent\" role=\"tabpanel\" aria-labelledby=\"heading-tab-2-0\">\n                                <div class=\"card-body\">\n                                    <div class=\"inner\">\n                                    \n                                                                            <p>Prioritize relationships with suppliers who have a proven global scale and adequate capacity. For example, energy company Enel has partnered with Prysmian Group, a major manufacturer, to supply cables for renewables projects.<\/p>\n\n                                                                        <\/div>\n                                <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"tab-pane fade card \" id=\"tab-2-1\" role=\"tabpanel\" aria-labelledby=\"btn-tab-2-1\">\n                            <div class=\"card-header\" role=\"tab\" id=\"heading-tab-2-1\">\n                                <button class=\"trigger-button trigger-button--icon\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse-tab-2-1\" aria-controls=\"collapse-tab-2-1\" aria-expanded=\"false\">\n                                                                            <div class=\"bg-circle \"\n                                                                                                style=\"background-color: #a0d60a\"\n                                                                                        >\n                                                                                            2\n                                                                                    <\/div>\n                                                                        <span class=\"trigger-button-title\">Capitalize on financial commitments<\/span>\n                                    <i class=\"icon icon-arrow-right\"><\/i>\n                                <\/button>\n                            <\/div>\n                            <div id=\"collapse-tab-2-1\" class=\"collapse\" data-bs-parent=\"#tab-2--tabContent\" role=\"tabpanel\" aria-labelledby=\"heading-tab-2-1\">\n                                <div class=\"card-body\">\n                                    <div class=\"inner\">\n                                    \n                                                                            <p>Utilize upfront payments and volume commitments as a strategy for securing long-term supplies. Leading supplier of wind power solutions, Siemens Gamesa, reached a long-term agreement with the Prysmian Group \u2013 by making commitments through volume contract \u2013 that has ensured a continuous supply.<\/p>\n\n                                                                        <\/div>\n                                <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"tab-pane fade card \" id=\"tab-2-2\" role=\"tabpanel\" aria-labelledby=\"btn-tab-2-2\">\n                            <div class=\"card-header\" role=\"tab\" id=\"heading-tab-2-2\">\n                                <button class=\"trigger-button trigger-button--icon\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse-tab-2-2\" aria-controls=\"collapse-tab-2-2\" aria-expanded=\"false\">\n                                                                            <div class=\"bg-circle \"\n                                                                                                style=\"background-color: #a0d60a\"\n                                                                                        >\n                                                                                            3\n                                                                                    <\/div>\n                                                                        <span class=\"trigger-button-title\">Direct procurement from OEMs<\/span>\n                                    <i class=\"icon icon-arrow-right\"><\/i>\n                                <\/button>\n                            <\/div>\n                            <div id=\"collapse-tab-2-2\" class=\"collapse\" data-bs-parent=\"#tab-2--tabContent\" role=\"tabpanel\" aria-labelledby=\"heading-tab-2-2\">\n                                <div class=\"card-body\">\n                                    <div class=\"inner\">\n                                    \n                                                                            <p>Where feasible, purchase directly from Original Equipment Manufacturers (OEMs) \u2013 rather than distributors \u2013 to streamline procurement. Telecommunications provider, Verizon, signed a direct agreement with OEM, Corning Incorporated, to ensure a steady supply of optical fiber cables.<\/p>\n\n                                                                        <\/div>\n                                <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"tab-pane fade card \" id=\"tab-2-3\" role=\"tabpanel\" aria-labelledby=\"btn-tab-2-3\">\n                            <div class=\"card-header\" role=\"tab\" id=\"heading-tab-2-3\">\n                                <button class=\"trigger-button trigger-button--icon\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse-tab-2-3\" aria-controls=\"collapse-tab-2-3\" aria-expanded=\"false\">\n                                                                            <div class=\"bg-circle \"\n                                                                                                style=\"background-color: #a0d60a\"\n                                                                                        >\n                                                                                            4\n                                                                                    <\/div>\n                                                                        <span class=\"trigger-button-title\">Develop long-term partnerships with key suppliers<\/span>\n                                    <i class=\"icon icon-arrow-right\"><\/i>\n                                <\/button>\n                            <\/div>\n                            <div id=\"collapse-tab-2-3\" class=\"collapse\" data-bs-parent=\"#tab-2--tabContent\" role=\"tabpanel\" aria-labelledby=\"heading-tab-2-3\">\n                                <div class=\"card-body\">\n                                    <div class=\"inner\">\n                                    \n                                                                            <p>Invest in long-term partnerships with key suppliers \u2013 beyond mere transactional relationships. For example, \u00d8rsted and Eversource have formed a strategic collaboration with Nexans for the production of domestic sub-sea cable \u2013 from a $220 million facility expansion in South Carolina that\u2019s created 160 new clean energy jobs.<\/p>\n\n                                                                        <\/div>\n                                <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"tab-pane fade card \" id=\"tab-2-4\" role=\"tabpanel\" aria-labelledby=\"btn-tab-2-4\">\n                            <div class=\"card-header\" role=\"tab\" id=\"heading-tab-2-4\">\n                                <button class=\"trigger-button trigger-button--icon\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse-tab-2-4\" aria-controls=\"collapse-tab-2-4\" aria-expanded=\"false\">\n                                                                            <div class=\"bg-circle \"\n                                                                                                style=\"background-color: #a0d60a\"\n                                                                                        >\n                                                                                            5\n                                                                                    <\/div>\n                                                                        <span class=\"trigger-button-title\">Standardize specifications<\/span>\n                                    <i class=\"icon icon-arrow-right\"><\/i>\n                                <\/button>\n                            <\/div>\n                            <div id=\"collapse-tab-2-4\" class=\"collapse\" data-bs-parent=\"#tab-2--tabContent\" role=\"tabpanel\" aria-labelledby=\"heading-tab-2-4\">\n                                <div class=\"card-body\">\n                                    <div class=\"inner\">\n                                    \n                                                                            <p>Collaborate with suppliers over critical components \u2013 such as cable specifications \u2013 to help optimize network performance and achieve cost benefits. For instance, the Saudi Electricity Company (SEC) standardized its high-voltage cable designs \u2013 across various voltage ratings \u2013 working closely with its cable suppliers.<\/p>\n\n                                                                        <\/div>\n                                <\/div>\n                            <\/div>\n                        <\/div>\n                                    <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<p>&nbsp;<\/p>\n<h2><span class=\"ui-provider a b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak\" dir=\"ltr\">What&#8217;s next: Anticipating the impact of cable supply challenges<\/span><\/h2>\n<p>Cable supply is poised for major <a href=\"https:\/\/www.KGM Strategy.com\/en\/expertise\/procurement-transformation\/\">transformation<\/a>. Emerging technologies \u2013 such as sustainable cables and onshore HVDC systems \u2013 offer promising efficiencies over traditional cabling. Additionally, the rise of smart grids and the Internet of Things (IoT) will revolutionize electricity transmission, potentially reducing dependency on traditional cabling. However, such innovations also introduce new challenges \u2013 from cybersecurity risks to regulatory issues.<\/p>\n<p>Leading cable suppliers are moving towards <a href=\"https:\/\/www.KGM Strategy.com\/en\/expertise\/sustainable-procurement\/\">sustainable production<\/a>:<\/p>\n<ul class=\"checklist\">\n<li>Global power cable provider Nexans has committed to reduce CO<sub>2<\/sub> emissions using 100% low-carbon aluminum and 50% recycled plastics for insulation and jacketing.<\/li>\n<li>Cable manufacturer NKT has \u2013 in a groundbreaking collaboration with suppliers and customers \u2013 started employing low-carbon copper in its 320kV HVDC cable \u2013 a world first.<\/li>\n<li>Many other industry peers are also championing sustainability-driven initiatives\u00a0\u2013 including Sumitomo, LS Cable, Furukawa, and more.<\/li>\n<\/ul>\n<p>These efforts will all contribute to reduce CO<sub>2<\/sub> emissions and promote more efficient resource utilization and sustainability. By emphasizing recycling \u2013 especially costly scarce metals \u2013 these suppliers will optimize waste versus production.<\/p>\n<p>Meanwhile, Asian and South American suppliers are emerging as key global players. Countries like Vietnam, China, South Korea, and Mexico are ramping up supply. These will be important sources for the future, especially for utilities that invest early and secure production volumes now.<\/p>\n<p>In this changing world, it\u2019s imperative that utility companies be proactive and truly understand their supply chains. They should pinpoint critical supply markets, both globally and regionally, and foster resilience by collaborating closely with suppliers. Fortifying these relationships and becoming a &#8216;customer of choice&#8217; offers huge strategic advantages.<\/p>\n<p>&nbsp;<\/p>\n<p class=\"text-center\"><a class=\"btn btn-outline-primary\" href=\"https:\/\/www.KGM Strategy.com\/en\/industries\/power-and-utilities-sector\/\">Find out more about the energy industry<\/a><\/p>\n<p>&nbsp;<\/p>\n<div id=\"key-takeaways\" class=\"anchor\" data-name=\"Key takeaways\"><\/div>\n<div class=\"icon-boxes  \" data-moduleID=\"101111\" is=\"summary-box\">\n    <div class=\"summary-box-padding overflow-visible\">\n        <div class=\"icon-box has-icon  fadeIn\" style=\"border-color: rgb(243, 145, 0);\" data-animated-icon=\"true\">\n            \n                <div class=\"icon\">\n                    <div class=\"inner\">\n\n                                                                                    <svg id=\"animatedIcon-88b30e62126403dcef342a158b5645e2\" data-id=\"88b30e62126403dcef342a158b5645e2\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" x=\"0px\" y=\"0px\" viewBox=\"0 0 64 64\" xml:space=\"preserve\" width=\"75\" height=\"75\">\n                                    <path fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\" d=\"M43,16.4c-3.2-3.1-7.4-4.6-11.8-4.4C23,12.4,16.3,19.2,16,27.4c-0.2,5.1,2.1,10,6.1,13.2C24,42,25,44.1,25,46.2V47h6V34.5l-5.5-3.7c-0.5-0.3-0.6-0.9-0.3-1.4c0.3-0.5,0.9-0.6,1.4-0.3l5.4,3.6l5.5-3.6c0.5-0.3,1.1-0.2,1.4,0.3c0.3,0.5,0.2,1.1-0.3,1.4L33,34.5V47h6v-0.8c0-2.2,1-4.2,2.9-5.7C45.8,37.5,48,32.9,48,28C48,23.6,46.2,19.5,43,16.4z\"\/>\n                                    <path d=\"M27,49h-2v5c0,0.5,0.5,1,1,1h1.1h9.8H38c0.5,0,1-0.5,1-1v-5h-2H27z\" fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\"\/>\n                                    <path d=\"M32,60c3,0,4-2,4-3h-8C28,58,29,60,32,60z\" fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\" \/>\n                                    <line fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\" class=\"st0\" x1=\"9.9\" y1=\"10.5\" x2=\"16.4\" y2=\"15.6\"\/>\n                                    <line fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\" class=\"st0\" x1=\"47.9\" y1=\"36.6\" x2=\"54.4\" y2=\"41.7\"\/>\n                                    <line fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\" class=\"st0\" x1=\"9.5\" y1=\"41.4\" x2=\"15.8\" y2=\"36.1\"\/>\n                                    <line fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\" class=\"st0\" x1=\"48.2\" y1=\"15.7\" x2=\"54.5\" y2=\"10.4\"\/>\n                                    <line fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\" class=\"st0\" x1=\"32\" y1=\"1.8\" x2=\"31.9\" y2=\"10\"\/>\n                                    <line fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\" class=\"st0\" x1=\"14.1\" y1=\"26\" x2=\"5.8\" y2=\"26\"\/>\n                                    <line fill=\"none\" stroke-width=\"2\" stroke=\"#a0d60a\" stroke-miterlimit=\"10\" class=\"st0\" x1=\"58.1\" y1=\"26\" x2=\"49.9\" y2=\"26\"\/>\n                                <\/svg>\n                            \n                        \n                    <\/div>\n                <\/div>\n\n            \n            \n                <h3 class=\"title\" style=\"color: rgb(243, 145, 0)\">\n                    Concluding insights: Overcoming the cable supply shortage in the energy sector\n                <\/h3>\n\n                <div class=\"content\">\n                    <p>The cable supply crunch is more than just a tactical problem. It\u2019s a strategic challenge that will test the mettle of electrical utility companies. Navigating this challenge will dictate operational efficiency and shape the industry&#8217;s role in achieving broader goals, from sustainability to economic development.<\/p>\n<p>Proactive measures to build power cable supply resilience are essential for survival and scaling in a complex, volatile landscape. Long-term planning, spanning 10-12 years, is crucial when developing energy networks. A robust cable supply strategy, coordinating project portfolios, generation, transmission capacity, and timing with available supply capacities, is vital. Aligning cost projections with cash flow planning is also necessary for project success.<\/p>\n<p>Additionally, aligning the procurement function with project management for long-term supply management is essential. Electricity utility companies must adopt a strategic approach to managing project portfolios, considering cost escalation and supply challenges. Despite the volatility in long-term demand, addressing cable supply strategically and consistently is complex but necessary. Investing in critical capabilities for groundbreaking moves, with a 5-year ramp-up time, is worthwhile.<\/p>\n\n                <\/div>\n\n            \n        <\/div>\n    <\/div>\n<\/div>\n\n\n<p><em>Authors: James Manton and Marwan Fathalla, Senior Consultants at KGM Strategy<\/em><\/p>\n<h2>Get in contact with our energy experts<\/h2>\n\n    <div class=\"container authors-section fadeIn \" is=\"authors-and-partners\">\n        <div class=\"description row\">\n            <h2>\n                                                            Authors\n                                                <\/h2>\n        <\/div>\n\n        <div class=\"row\">\n                            <div class=\"mb-5 col-md-6 mb-md-0\">\n                    <div class=\"author\">\n                                                    <figure>\n                                <img loading=\"lazy\" decoding=\"async\" width=\"250\" height=\"250\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2021\/08\/mohamad-kaivan_updated-250x250.png\" class=\"img-fluid\" alt=\"\" srcset=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2021\/08\/mohamad-kaivan_updated-250x250.png 250w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2021\/08\/mohamad-kaivan_updated-75x75.png 75w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/>\n                            <\/figure>\n                        \n                        <h3>Mohamad Kaivan<\/h3>\n                        <p class=\"person-position\">Managing Director <\/p>\n                                                    <div class=\"short-desc\"><\/div>\n                                                <div class=\"contact-information\">\n                                                                                                <a href=\"mailto:contact@kgmstrategy.com\" class=\"mail-link\">contact@kgmstrategy.com<\/a>\n                                                                                                                                                <\/div>\n                                                    <a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/navigating-the-power-cable-supply-crunch\/\" class=\"btn btn-outline-secondary text-terciary\">Contact<\/a>\n                                            <\/div>\n                <\/div>\n                            <div class=\"mb-5 col-md-6 mb-md-0\">\n                    <div class=\"author\">\n                                                    <figure>\n                                <img loading=\"lazy\" decoding=\"async\" width=\"250\" height=\"250\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2023\/07\/Joshua-Fenlon-website-250x250.png\" class=\"img-fluid\" alt=\"\" srcset=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2023\/07\/Joshua-Fenlon-website-250x250.png 250w, https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2023\/07\/Joshua-Fenlon-website-75x75.png 75w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/>\n                            <\/figure>\n                        \n                        <h3>Joshua Fenlon<\/h3>\n                        <p class=\"person-position\">Principal<\/p>\n                                                    <div class=\"short-desc\"><\/div>\n                                                <div class=\"contact-information\">\n                                                                                                <a href=\"mailto:contact@kgmstrategy.com\" class=\"mail-link\">contact@kgmstrategy.com<\/a>\n                                                                                                                                                <\/div>\n                                                    <a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/navigating-the-power-cable-supply-crunch\/\" class=\"btn btn-outline-secondary text-terciary\">Contact<\/a>\n                                            <\/div>\n                <\/div>\n                    <\/div>\n    <\/div>\n\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"bp-module-info-wrapper\">\n<div>\n<div class=\"icon-boxes  \" data-moduleID=\"101345\" is=\"summary-box\">\n    <div class=\"summary-box-padding overflow-visible\">\n        <div class=\"icon-box has-icon  fadeIn\" style=\"border-color: rgb(243, 145, 0);\" data-animated-icon=\"true\">\n            \n                <div class=\"icon\">\n                    <div class=\"inner\">\n\n                                                                                    <svg id=\"animatedIcon-804881513dac52d0ef6fcc765661073d\" data-id=\"804881513dac52d0ef6fcc765661073d\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" x=\"0px\" y=\"0px\" viewBox=\"0 0 120 120\" xml:space=\"preserve\" width=\"75\" height=\"75\">\n                                    <path fill=\"none\" stroke-width=\"20\" stroke-miterlimit=\"10\" stroke=\"#a0d60a\" class=\"st0\" d=\"M36.7,40.1c0-9.9,7.6-20.7,17.6-22.7c0,0,14.5-5.6,27.1,7.3c4.4,4.5,6.2,11.1,5.5,17.3C86,49,81.9,54.7,76.9,59.3C76,60.2,75,61,74,61.8c-3.4,2.7-7.7,4.6-10.3,8.2c-3.3,4.6-2.4,10.7-2.4,16v1.2\"\/>\n                                    <line fill=\"none\" stroke-width=\"20\" stroke-miterlimit=\"10\" stroke=\"#a0d60a\"  class=\"st0\" x1=\"61.2\" y1=\"94.3\" x2=\"61.2\" y2=\"109.5\"\/>\n                                <\/svg>\n                            \n                        \n                    <\/div>\n                <\/div>\n\n            \n                            <div is=\"accordion\">\n                    <div class=\"accordion-item\">\n                        <div class=\"accordion-header\" id=\"heading-804881513dac52d0ef6fcc765661073d\">\n                            <button class=\"accordion-button collapsed\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapse-804881513dac52d0ef6fcc765661073d\" aria-expanded=\"false\" aria-controls=\"collapse-804881513dac52d0ef6fcc765661073d\">\n                                <span class=\"accordion-button-label\">\n                                    <span>Further reading and sources<\/span>\n                                <\/span>\n                            <\/button>\n                        <\/div>\n                        <div id=\"collapse-804881513dac52d0ef6fcc765661073d\" class=\"accordion-collapse collapse\" aria-labelledby=\"heading-804881513dac52d0ef6fcc765661073d\">\n                            <div class=\"accordion-body\">\n                                <ul class=\"arrow-right-list\">\n<li><a href=\"https:\/\/www.bbc.com\/news\/science-environment-65500339\" target=\"_blank\" rel=\"noopener\">BBC: Renewable energy projects worth billions stuck on hold<\/a><\/li>\n<li><a href=\"https:\/\/www.reuters.com\/investigates\/special-report\/usa-renewables-electric-grid\/\" target=\"_blank\" rel=\"noopener\">Reuters: Creaky U.S. power grid threatens progress on renewables, EVs\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/www.iea.org\/reports\/unlocking-smart-grid-opportunities-in-emerging-markets-and-developing-economies\/executive-summary\" target=\"_blank\" rel=\"noopener\">IEA: Unlocking Smart Grid Opportunities in Emerging Markets and Developing Economies<\/a><\/li>\n<li><a href=\"https:\/\/www.uschamber.com\/workforce\/education\/closing-the-skills-gap\" target=\"_blank\" rel=\"noopener\">U.S. Chamber of Commerce: Closing the Skills Gap<\/a><\/li>\n<li><a href=\"https:\/\/www.ons.gov.uk\/employmentandlabourmarket\/peopleinwork\/employmentandemployeetypes\/bulletins\/jobsandvacanciesintheuk\/march2022\" target=\"_blank\" rel=\"noopener\">Office for National Statistics: Vacancies and jobs in the UK: March 2022<\/a><\/li>\n<li><a href=\"https:\/\/www.reuters.com\/business\/energy\/orsted-cease-development-some-us-offshore-wind-projects-2023-10-31\/\" target=\"_blank\" rel=\"noopener\">Reuters: \u200d\u00d8rsted hit by up to $5.6 billion impairment on halted US projects<\/a><\/li>\n<li><a href=\"https:\/\/fred.stlouisfed.org\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve Bank of Sankt Louis<\/a><\/li>\n<li><a href=\"https:\/\/www.prysmian.com\/en\/insight\/telecoms\/enel-chose-prysmian-p-laser-technology-the-first-100-recyclable-cable-allowing-CO2-emissions-reduction-by-40\" target=\"_blank\" rel=\"noopener\">Prysmian Magazine: Insight\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/www.prysmian.com\/en\/press-releases\/prysmian-siemens-gamesa-renewable-energy-sign-new-worldwide-agreement\" target=\"_blank\" rel=\"noopener\">Prysmian: Prysmian and Siemens Gamesa Renewable Energy sign new worldwide agreement<\/a><\/li>\n<li><a href=\"https:\/\/www.verizon.com\/about\/news\/verizon-agrees-105-billion-three-year-minimum-purchase-agreement-corning-next-generation\" target=\"_blank\" rel=\"noopener\">Verizon: Verizon agrees to $1.05 billion three-year minimum purchase agreement with Corning for next-generation optical solutions<\/a><\/li>\n<li><a href=\"https:\/\/us.orsted.com\/news-archive\/2021\/11\/orsted-eversource-us-supply-chain-investment-enables-offshore-wind-cable-facility-expansion-in-sc\" target=\"_blank\" rel=\"noopener\">\u00d8rsted: \u00d8rsted, Eversource U.S. Supply Chain Investment Enables Offshore Wind Cable Facility Expansion in South Carolina<\/a><\/li>\n<li><a href=\"https:\/\/www.nexans.com\/impact\/environment\/climate\/\" target=\"_blank\" rel=\"noopener\">Nexans: Acting on our environmental impact\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/www.energymonitor.ai\/tech\/networks-grids\/frances-nexans-launches-low-carbon-grid-cable\/\" target=\"_blank\" rel=\"noopener\">Energy Monitor: France\u2019s Nexans launches low-carbon grid cable\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/www.sserenewables.com\/news-and-views\/2022\/09\/nkt-produces-world-s-first-hvdc-power-cables-using-low-carbon-copper\/\" target=\"_blank\" rel=\"noopener\">SSE Renewables:NKT produces world\u2019s first HVDC power cables using low-carbon copper\u00a0<\/a><\/li>\n<\/ul>\n\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/div>\n\n            \n        <\/div>\n    <\/div>\n<\/div>\n\n\n<\/div>\n<h2>More insights from the energy industry<\/h2>\n<div class=\"bp-module-info-wrapper\">\n    <section class=\"module-post-tiles\" data-module-id=\"101527\" data-modul-type=\"animated-numbers\">\n        <div class=\"container overflow-visible\">\n            \n            <div class=\"row\">\n                                                        <div class=\"overflow-hidden col-12 col-sm-6 col-xl-4\">\n                                                                    <a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/smi-14\/critical-raw-materials-act\/\" class=\"fixed-post-tile\">\n                                                    <figure class=\"fixed-post-tile-image\">\n                                       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class=\"d-lg-none d-xl-block\">Critical Raw Materials Act: Proactively shaping change<\/span>\n                                <\/p>\n                                                                <button type=\"button\" class=\"btn btn-tertiary\">\n                                    Read more\n                                <\/button>\n                                                            <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                        <div class=\"overflow-hidden col-12 col-sm-6 col-xl-4\">\n                                                                    <a href=\"https:\/\/www.KGM Strategy.com\/en\/insights\/what-impact-does-the-carbon-border-adjustment-mechanism-cbam-regulation-have-in-procurement\/\" class=\"fixed-post-tile\">\n                                                    <figure class=\"fixed-post-tile-image\">\n                                                                    <img decoding=\"async\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2024\/02\/cbam-regulation-header-new-456x630.png\" loading=\"lazy\" width=\"2000\" height=\"2000\" alt=\"\" class=\"img-fluid tile-image object-fit\" \/>\n                                                            <\/figure>\n                            <div class=\"fixed-post-tile-content\">\n                                <p class=\"h3\">\n                                                                        <span class=\"fixed-post-tile-content-category\">\n                                                                                    Article\n                                                                            <\/span>\n                                    \n                                    <span class=\"d-none d-lg-block d-xl-none\">Impact of the Carbon Border Adjustment Mechanism regulation on...<\/span>\n                                   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        <img decoding=\"async\" src=\"https:\/\/www.KGM Strategy.com\/wp-content\/uploads\/2022\/02\/energiewirtschaft_header.jpg\" loading=\"lazy\" width=\"2200\" height=\"2200\" alt=\"\" class=\"img-fluid tile-image object-fit\" \/>\n                                                            <\/figure>\n                            <div class=\"fixed-post-tile-content\">\n                                <p class=\"h3\">\n                                                                        <span class=\"fixed-post-tile-content-category\">\n                                                                                    Client Case\n                                                                            <\/span>\n                                    \n                                    <span class=\"d-none d-lg-block d-xl-none\">Cost optimization in the energy industry<\/span>\n                                    <span class=\"d-lg-none d-xl-block\">Cost optimization in the energy industry<\/span>\n                                <\/p>\n                                                                <button type=\"button\" class=\"btn btn-tertiary\">\n                                    Read more\n                                <\/button>\n                                                            <\/div>\n                                                <\/a>\n                                            <\/div>\n                            <\/div>\n                                    <\/div>\n    <\/section>\n\n<p>&nbsp;<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Electricity utility companies face a critical cable supply shortage, driven by increasing demand and limited supply.<\/p>\n","protected":false},"author":10,"featured_media":101547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Navigating the power cable supply crunch | KGM Strategy","_seopress_titles_desc":"How can electricity companies secure reliable cable supplies while optimizing costs? \u2713 Future outlook \u2713 Conclusion   KGM Strategy, A BCG Company.","_seopress_robots_index":"","footnotes":""},"categories":[700,723,726,717],"tags":[],"class_list":["post-97898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article","category-energy-networks-transition","category-fossil-energies","category-supply-chain-resilience"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.KGM Strategy.com\/en\/wp-json\/wp\/v2\/posts\/97898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.KGM 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