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Announcing 2017 Comet Award Winners

PowerPlan Recognizes Outstanding Performance and Commitment with Awards

ATLANTA – (November 15, 2017) – PowerPlan, a leading provider of strategic corporate performance software for asset-intensive companies, is proud to announce the 10 winners of its Comet Awards.

The Comet Awards recognize select organizations who have leveraged PowerPlan’s technology to drive value and help transform their organization in the form of improved operational efficiencies, optimized financial performance or reduced audit risk. PowerPlan is pleased to recognize and honor the achievements of this year’s Comet Award winners:

Cloud Collaboration Award –The Cloud Collaboration Award goes to Connecticut Water for implementing their PowerPlan solutions in the cloud.

Commitment to Excellence Award – PowerPlan recognizes NorthWestern Energy with the Commitment to Excellence Award for extending value throughout their organization by implementing PowerPlan’s Capital Budget and Project Cost Management solutions.

Fastest Time to Value Award – Organizations with single sets of books are challenged to report between book and tax, which impacts their ability to maximize value. The Fastest Time to Value award goes to Colonial Pipeline for improving their strategic decision making ability by moving to multiple sets of books for reporting and compliance with PowerPlan’s Income Tax Suite.

Greatest Impact Award – El Paso Electric earned the Greatest Impact award for their use of PowerPlan’s Collaboration Engine, a solution included in the PowerPlan Rate Case and ROE Management Suite. Their approach provides transparency to auditors, interveners and regulators, while maintaining control of the overall model. It helps improve communications during the approval process, eliminate redundant models and reduce errors.  

Integration Simplification Award – Using PowerPlan solutions together with IBM® Maximo® helps automate the entire asset lifecycle, resulting in greater cash flow and cost management, while improving compliance and lowering audit risk. PowerPlan recognizes PNM Resources with the Integration Simplification Award for taking advantage of these two powerful solutions.

Innovative Use Award – Managing capital infrastructure investments is critical to reducing risk as well as realizing more value from an organization’s assets. The ongoing processes implemented by the Office of the CFO for the District of Columbia, including their use of PowerPlan’s Asset Management Planning Suite, is a shining example of how public sector organizations can tackle the infrastructure funding challenge.

Leading Change Award – The Leading Change award goes to ElectraNet for leveraging PowerPlan’s Asset Management Planning Suite to define a predictive risk model for more than 10 major transmission asset classes, monetizing their asset risk to understand maintenance options, while maximizing the return on maintenance and capital investments.  

Most Insightful Award – Exelon Corporation won this award for their early adopter partnership of PowerPlan Insights for Tax. Their input on the solution design was instrumental in building out key reporting dashboards for PowerPlan’s Income Tax Suite and ultimately driving the integrated solution forward.

Pioneer Award –The Pioneer Award goes to Louisville Gas and Electric Company and Kentucky Utilities Company for their forward-looking position on compliance with the new FASB lease standards through the implementation of PowerPlan’s Lease Accounting Suite.  

Visionary Award - Flint Hills Resources was awarded the Visionary Award for their collaboration and input with PowerPlan’s Tax Fixed Assets solution creating a powerful tool for companies with complex partnerships and Master Limited Partnerships (MLPs) in the oil and gas industry.

The winners were formally announced at the PLANET 2017 Client Conference on Nov. 14, 2017, in Phoenix, Arizona.