This is the first article in a series of four, jointly developed by APQC and ScottMadden on the topic of Financial Shared Services. The articles are based on interviews APQC conducted with ScottMadden partner Brad DeMent, who leads the firm’s financial shared services practice.
IT operations are a crucial aspect of most organizational operations. It is necessary to provide a reliable infrastructure for IT operations, in order to minimize any chance of disruption. As the complexities of IT have grown, the demand for computing power has increased the electrical power required for data centers. According to an EPA report to congress, demand for data processing and storage is driven by several factors including the increased use of electronic transactions in financial services, the shift to electronic medical records for healthcare, the growth in global commerce and services, the adoption of satellite navigation and electronic shipment tracking in transportation, and the adoption of Smart Meters in Smart Grid applications. Today’s data centers account for 25% of the corporate IT budget for companies, and expanding data center requirements has driven a steady increase in energy consumption.
Gas utility capital investments to increase reliability and replace aging infrastructure have been increasing for five years. This new infrastructure is meant to support expected demand growth and to replace aging systems. But the economy and evolving regulatory landscape present challenges for local distribution companies (LDCs) and others in the gas industry to meet their ambitious infrastructure objectives.
This report addresses these key questions and more.
The number of grid-connected solar photovoltaic (PV) systems is expected to increase dramatically over the coming decades. This increase in the number of PV units leads to an increased focus by utilities and other solar generating firms on achieving the highest level of performance and reliability from the solar asset. In addition to the typical focus of thinking about up -front costs of a solar plant, determining a plan and
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We are pleased to announce our August 2010 issue of THE SCOTTMADDEN ENERGY INDUSTRY UPDATE. This semi-annual publication features our view of recent significant events and emerging trends in the energy industry.
As fines continue to pile up and FERC exercises ever increasing oversight of NERC compliance, utilities are focusing more and more on how best to organize NERC compliance efforts. The manner in which this effort is organized and managed can facilitate or hinder a company’s ability to comply with the reliability standards. Through work with various utilities on NERC compliance issues, ScottMadden has developed a series of recommendations about how best to organize and manage the NERC compliance function so that it is successful in the long run.
If you are interested in further information on NERC compliance and our capabilities in this area, please contact us.
A year into a new presidential administration and the feared collapse of the world financial system, business has regained its footing and the world economy appears to be rebounding. Uncertainty over the pace and durability of recovery, an expanding federal regulatory and legislative agenda, and mixed state regulatory relationship makes the near-term murky, but companies are thinking beyond the current ambiguity to how they can position themselves for a future industry dynamic.
During the worst of the financial meltdown of 2008-09, utility stock prices benefited from a flight to their relatively steady returns. However, many uncertainties and some unfavorable trends weigh upon their outlook. In an article in the September/October 2009 issue of Electric Light & Power magazine, Brad Kitchens and Greg Litra look at the challenges, historical precedents, and what industry leaders should do about it.
Click here to read the article on utility financial performance
Many LDCs operate with a traditional utility mindset, and often have culture and investments steeped in the legacy of a 100+ year old company, making it difficult to address challenges of attrition, volatile commodity prices, uncertain demand, shrinking margins, and continued competition from electric. Several leading LDCs have used a proven Business Process Improvement (BPI) method to review and improve their core business. In doing so, they have improved operating income per employee, ingrained a culture of continuous improvement, and created real, positive change in how employees do their jobs. Learn more in this white paper.
How do you ensure that when it is time for commercial operations of your new power plant, you operate commercially? Leading firms use an Operational Readiness Assessment (ORA) process. Getting this right can save millions of dollars by avoiding replacement power costs and ensuring warranty claims are effective. ORA is the investment to protect the investment. Learn more in this white paper.
Despite talk of “green shoots” of economic recovery, the global economy continues to endure a difficult recession and a challenging financial environment. Utilities, however, have weathered this downturn with some resilience and have been more favorably positioned than other sectors.
Want to achieve operational and management excellence for your generation fleet? A team playbook can help your organization improve business results, achieve synergies and economies of scale, address cultural issues, and implement best practices consistently. This report, featured in EEI’s October 2004 Electric Perspectives Magazine, highlights the six rules to help you in developing and sustaining an effective playbook.
Sussex Economic Advisors is now part of ScottMadden. We invite you to learn more about our expanded firm. Please use the Contact Us form to request additional information.
