For safety, it needs to be replaced. Additionally, the wire inside the conduit needs to be inspected for cuts/nicks.
It's unfortunate that your plumbimg and electrical conduit is encased in concrete. That makes replacing it all the more difficult. For the electrical, you could possibly run the electrical conduit above ground until just off the concrete area and then go underground again.
Post a few pics from different angles of your equipment pad. Someone may have other ideas on how to fix this safely.
Whatever you decide to do, be sure it is up to code and that it is all properly grounded and bonded.