We are now in the midst of an economic period we have not seen since the 1970s and early 1980s. Interest rates are moving higher for the foreseeable future, inflation is at a level not seen in 40 years, and economic growth is slowing. This was called "stagflation" in the '70s and '80s.

The point of this article is to discuss how this economic environment impacts management issues at power and utilities organizations. We'll touch on the large areas for consideration. There are not always straightforward answers in these areas, but many points for consideration.