Utilities are facing challenges from all sides; increasing infrastructure costs, heightened scrutiny over rates, and pressure to implement new compliance standards.
Consequently, decision makers across the organization are challenged with complying to new standards and meeting regulators expectations while working to achieve the optimal financial strategy with disconnected financial and operational systems. Fortunately, there’s an integrated platform they can rely on to take an aggressive position optimizing their financial outcome while remaining compliant.
PowerPlan’s software suites along with our team of experts help utilities manage their costs and financial fixed assets, ensure compliance, and make better strategic decisions. No wonder the top 20 utilities in the U.S. count on PowerPlan for the clarity they need to improve their financial performance.
Stricter regulations and changing compliance standards require more diligent tracking of assets and costs. PowerPlan provides a complete view of your financial assets, giving you the accurate information and control you need to align with FERC, the FASB lease standards or requirements of your regional regulators just to name a few.
With the increasing number of rate cases and the demands of your regulators, it’s important to quickly run complex rate case scenarios that analyze multiple options. PowerPlan helps you capture the right data, at the right time, stored at the right level of detail; helping reduce regulatory lag and confidently respond to regulator questions.
Asset planners need to be able to justify their plans to internal and external stakeholders, including regulators. PowerPlan captures and documents the business cases for both asset-based and needs-based projects, so you can develop defensible plans that optimize capital investments and meet the demands of all stakeholders.
With assets scattered across multiple cities and states, utilities need to understand exactly how they are affected by local, state and national tax laws for every asset owned or leased. By storing detailed tax and location information for every asset, PowerPlan gives you the insights you need to develop the optimal tax strategy on the local and national level. Even better we commit to updating the software when there are regulatory changes, ensuring the company’s continued compliance with tax laws.
Cindy Preito, Tax Director of El Paso Electric Company, explains how PowerPlan makes a difference for their organization.