In a rapidly evolving energy landscape, utilities must continuously assess their performance against peers and make strategic decisions to ensure long-term success. Utility benchmarking is an essential tool for identifying areas of opportunity and developing targeted strategies for improvement. However, utility benchmarking is complex, and many utilities lack the in-house expertise to compare their performance against peers accurately. That’s where utility benchmarking consulting services come in. By working with experienced consultants, utilities can gain the insights they need to make informed strategic decisions and position themselves for success in a dynamic and constantly changing landscape.
The regulatory environment is constantly changing, and your company has the opportunity to position itself to respond to these changes effectively. The generation mix is changing, and the focus on the Transmission and Distribution system is increasing. These changes present both challenges and opportunities for your company. By understanding the changes that are taking place, you can develop a strategic plan to take advantage of the opportunities and overcome the challenges. In addition, you can use these changes to improve your competitive advantage by positioning your company to respond effectively to these changes.
Utility benchmarking is a key asset management practice that allows tracking, analyzing, and reporting on the utility enterprise’s functions, including utility consumption and costs. By understanding how a function is performing, managers can identify opportunities to increase performance and make informed decisions about utility cost savings.
Performance assessment and benchmarking can help to inform utility providers about potential conservation opportunities. As a result, utility benchmarking is an important tool for utility management. Benchmarking consultants can assist in analyzing utility data and developing comprehensive benchmarking assessments.
ScottMadden’s experienced team of consultants have extensive knowledge of the issues energy companies face today and can help you position your company for short and long-term success in the dynamic environment.
Our utility benchmarking consulting services can help you build and manage an objective, actionable data frame to identify and solve problems and reach important goals as your organization adjusts to developments in the external environment. Benchmarking can help you:
Our proven benchmark consulting methods can help improve all functions of the utility enterprise, including generation, transmission, distribution, and support services. This process enables leaders to quickly assess performance, identify gaps, and target high-potential areas to improve their business.Customized Benchmarking Solutions
Through the use of publicly available data and customized analysis, ScottMadden will tailor a benchmarking study to your needs and enable your team to make critical, informed decisions about strategy and operations. Benchmarking provides you with the external perspective you need to inform big decisions about capital investment, integration of renewables, cost management, and regulatory strategy.
Leverage benchmarking to establish a firm foundation for setting targets and developing initiatives so you can achieve and sustain top-tier performance.
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.