Stay informed about power & utilities industry issues

A winning field mobility deployment approach for power and utility companies
Mobile technology is changing the way that power and utility companies operate their businesses, from the job site to the back office. Utilities that successfully deploy mobility solutions achieve productivity improvements of 20% to 30%.

Asset gain or drain: Are you making the right enterprise asset management decisions?
Assets are the lifeblood of the power and utilities industry. David Etheridge, PwC’s US power & utilities leader, observed at the latest Roundtable that managing assets is the key issues for power and utility companies.

Pipeline Components Traceability, Utilities companies new frontier
The Pipeline Safety, Regulatory Certainty, and Job Creation Act was signed into law to amend Title 49 of the Code of Federal Regulations (CFR). Specific changes will include new requirements for pipeline operators to provide geospatial and technical data for pipeline components.

Improving pipeline safety with speed, efficiency and quality
The Pipeline Safety, Regulatory Certainty, and Job Creation Act of 2011 is expected to accelerate and expand the scope of current gas pipeline safety enhancement efforts, resulting in much higher operational complexity.

Gridlines: What's next for nuclear power?
This PwC publication takes a pragmatic look at the long-term plans and actions that will be required to move the energy transformation ahead. That’s where nuclear power continues to fit in, according to many scientists and policy makers. Nuclear faces challenges, of course, but how they are being met is the subject of this issue of Gridlines.

Gain not pain: Managing risk in utilities capital projects
Senior executives and experts from several countries convened at PwC's March 2011 Capital Projects and Infrastructure Roundtable to discuss challenges facing utility companies. This report gives a flavor of the content from what was a very wide-ranging roundtable discussion. We focus our summary on people, financing, contracts and delivery, dispute avoidance and resolution and round up the report with a review of the important points that came out of the discussion.

Successful capital projects: The integrated risk framework
Capital investment projects are more closely scrutinized today than ever before. To rein in costs and chart a path to success, companies must employ sound methodologies that guide decision making from project start to finish. This report provides framework around the adoption of a governance approach that drives high-performance capital projects.

Transforming IT with better business processes: How demand-driven IT can prepare power companies for grid modernization
Power grid modernization requires updates to power companies’ technology, people, and processes and a time when power company CIOs are being asked to contain IT spending. Adoption of demand based IT will enable power companies to achieve operational and cost efficiencies.

Voice of the customer: Why utilities should embrace a customer-centric business model to succeed in a smart grid world
Most customers today use electricity, receive a bill, and pay it. Interaction with the utility is typically limited to a request for starting or stopping service, alerting the utility when there is a service outage, and an occasional billing inquiry. But that is changing.

Listening to the heartland: Insights into a customer-centric strategy for the smart grid
This report summarizes findings from a survey of Midwest energy customers on how they use energy, how smart grid technology will affect their everyday lives, and how much they expect to embrace new products and services related to the smart grid during the next few years.

Making smart decisions: Utilities ask, 'What do I do now?
This paper highlights the steps utilities need to take to meet the complex reporting and compliance requirements aimed at making sure tax dollars are appropriately spent.

In pursuit of government grants
This white paper discusses what utility companies need to know when pursuing a federal stimulus grant and provides knowledge about the compliance, accounting, and tax implications involved.

North American power deals: Q3 2012 mergers & acquisitions report
This PwC report presents an analysis of deal activity in the North American power and utilities industry.

Power Deals 2011

Renewables Deals 2011

How revised M&A accounting standards are impacting deals
Changes to M&A accounting standards enacted several years ago (ASC 805, formerly SFAS 141R) have caused uncertainty for companies in knowing how transactions will impact their financial statements. How have companies changed the way that they approach and plan for deals as a result of the revised accounting rules?

Power and Utilities Alert 2013-3: 2012 technical update for the power and utilities industry
PwC's US Power and Utilities sector have released their 2012 technical update which provides our insights on emerging and ongoing accounting issues to support senior accounting and financial reporting personnel as they address year-end financial reporting issues.

Power and Utilities Alert 2013-2: Guide to accounting for utilities and power companies
PwC's US Power and Utilities sector have published an updated guide to accounting for utilities and power companies to assist companies in reporting entities when preparing financial statements in accordance with accounting principles generally accepted in the United States of America.

Power and Utilities Alert 2013-1: 2012 SEC comment letter and reporting trends for the power and utilities industry
To assist power and utility company reporting entities preparing their year-end financial statements, PwC's US Power and Utilities practice have published the 2012 SEC comment letter trends for the power and utilities industry, based on our review of industry related comment letters on Form 10-Ks and Form 10-Qs published in 2012.

Power and Utilities Alert 2012-08: Revenue from contracts with customers
The Financial Accounting Standards Board (FASB) and International Accounting Standards Board discussed the 2011 joint exposure draft, Revenue from Contracts with Customers. The exposure draft respondents requested guidance on disaggregating contract deliverables into separate performance obligations.

Power and Utilities Alert: 2012-7: Beware of cliffs and waterfalls - Accounting for renewable investments
This Alert has been prepared to highlight some of the key accounting considerations for investors in renewable energy projects with tiered capital structures when applying the equity method of accounting.

Power and Utilities Alert: 2012-6: Accounting for rate-regulated activities under IFRS
This Power and Utilities Alert describes recent developments regarding accounting for rate-regulated activities under International Financial Reporting Standards (IFRS). It includes observations related to discussions on rate-regulated activities held during an IFRS Interpretations Committee (the Committee) meeting on July 10, 2012.

Power and Utilities Alert 2012-5: Accounting for rate-regulated activities under IFRS
The January 2012 meeting of the International Financial Reporting Standards (IFRS) Interpretations Committee (the Committee) raised questions whether under IFRS customers within a regulatory jurisdiction can be combined into a single unit of account and how to recognize assets and liabilities.

Power and Utilities Alert 2012- 3: Use of third party pricing service information
Fair value measurements have come under discussion and review by the Public Company Accounting Oversight Board (PCAOB) due to accounting guidance, changes in economic environments, financial instruments and valuation models. Recent SEC remarks have focused on management's responsibilities on using information from third party pricing services in fair value measurements and disclosures.

Power and Utilities Alert 2012-2: 2011 technical update for the power and utilities industry
This 2011 technical update addresses accounting issues impacting power generators and utilities to support senior accounting and financial reporting staff for 2011 year-end financial reporting It includes a discussion of anticipated future financial reporting issues that power and utility companies should consider.

Power and Utilities Alert 2012-01: 2011 SEC comment letter trends for the power and utilities industry
A key consideration in financial reporting is delivering transparent financial information to investors. 2011 SEC comment letter trends for the power and utilities industry is based on a review of industry related comment letters on Form 10-Ks and Form 10-Qs published in 2011.

Gate assessments: Project and risk evaluation to help power and utility companies succeed
Power and utility projects can be complex and can introduce exposure to risk. Measuring project success includes delivery of anticipated benefits, organizational acceptance, and regulatory compliance. Gate assessments provide visibility into project status that help to reduce risk through a phased evaluation approach tailored to the project type.

Financial reporting in the power and utilities industry
For Power & Utilities companies, this paper draws on our considerable experience of helping companies apply IFRS effectively and includes a number of real-life examples from power and utilities companies’ annual reports to show how they are responding to the various challenges along the value chain.

Smart grid investment grants: Navigating the challenges
The DOE’s Smart Grid grants have funded projects have created jobs while protecting the environment. Power and utility companies experience challenges in navigating the compliance requirements associated with the grants.

Change is happening: Is your workforce ready?
A PwC power and utilities industry survey shows that many companies are unsure how to best handle the ongoing dramatic human resource evolution within their organizations.

Change is certain. Are you? How to alter your organization’s views on change and strategy
Over the course of the past few tumultus years, one thing has not changed much. A majority - about 75% - of change initiatives fail. In these cases, change is more chronic than constant, as organizations let an important lifeline to future success and slip through their hands. A rigorous change process, in which challenging questions are addressed and no assumption goes unturned, can unveil crucial information about stakeholders’ perceptions of change-readiness and help breathe new life into an organization and its team.

Integrated strategic mobility: technology drives improvement
This paper explores how utilities can harness new web-based technology to thrive in today’s evolving marketplace.

From compliance to risk management: Defending against emerging cyber threats at power and utility companies
This whitepaper examines how power and utilities companies can keep their critical electric power assets secure by shifting toward a thorough risk-based approach and away from compliance driven security.

Getting real about cyber threats: Where are you headed?
As energy, utilities and power companies increase their use of technologies like smart grid, advanced metering infrastructure, and modern control systems, cyber attacks and malware threats increase. Companies that understand cyber threats will be in the best position to defeat them.

Cyber attacks: Is your critical infrastructure safe?
This paper explores emerging cyber attack trends and the latest defensive countermeasures.

Connecting the dots on risk: Internal audit departments are developing a more comprehensive view of the risks facing their organizations
Internal audit executives in the power and utilities industry are responding to a more complex operating environment by collaborating with other risk assurance providers to generate a more complete view of risks facing their organization. This report presents the findings from PwC's Power and Utilities Chief Audit Executives Survey.

Energy Efficiency: How internal audit can evaluate and enhance power and utilities customer energy efficiency programs
Budgets for electric and gas utility energy efficiency programs in the US and Canada increasing. Power and utility companies are expected to use these increasing budgets to promote energy efficiency and achieve tangible energy savings objectives which will require fiscal management and risk resilience.

Crisis Management: How Internal Audit can evaluate and enhance power and utilities crisis management programs
Global and US crisis events highlight the need for crisis management programs in the power and utilities industry. These programs enable company executives guide their company through a crisis in a fiscally responsible manner that stakeholders expect.

Data analytics: How data analytics can help internal audit better understand risk
Power and utility company internal audit departments can leverage data analytics to help identify risk and give a view into company operations.

Climbing to greater insight and impact: Chief audit executives ascend to position themselves in more strategic roles
Results from the PwC Power and Utilities 6th Annual Chief Audit Executives Survey, conducted in fall 2011, underscore what was discussed at our CAE Roundtable. Internal audit leaders at power and utility companies continue to target certain key areas for improvement.

Business continuity and disaster recovery: Enhancing enterprise resiliency for the power and utilities industry
Business continuity is becoming a growing part of government-based preparedness initiatives. While utilities are well versed in the necessities of ensuring reliability during challenging events, the 'business continuity' focus doesn't typically have the same maturity.

Enterprise risk management: Increasing the value of power and utility ERM programs
Power and utility companies have implemented Enterprise Risk Management (ERM) programs to track and mitigate risk. ERM programs can improve operational efficiency, increase financial gains, and achieve competitive advantage.

Regulatory compliance: Taking a proactive approach to assessing the effectiveness of regulatory compliance programs
Power and utility companies struggle to systematically identify, measure, prioritize, streamline and respond to regulatory acts like Dodd-Frank, the Clean Air Act and the Energy Policy Act, along with the promulgation of rules by the Commodity Futures Trading Commission, Environmental Protection Agency (EPA) and Federal Energy Regulatory Commission (FERC)/North American Electric Reliability Corporation (NERC).

A Closer Look: FinReg impacts on nonfinancial companies
This edition of A Closer Look provides context and perspective on the areas of Dodd-Frank that are of particular concern to nonfinancial companies.

Appetite for change
The most comprehensive survey of its kind yet completed, Appetite for change examines attitudes in the international business community towards environmental regulation, legislation and taxes.

10Minutes on monetizing carbon
10Minutes on Monetizing Carbon looks at what companies can do to prepare for a broader trend toward putting a price on greenhouse gas emissions (GHGs).

Powering the service-oriented supply chain
In the power and utilities industry, supply chain is a necessary cost burden to power supply and delivery businesses. This paper explores how a service-oriented supply chain can cut costs and drive efficiency while improving service.

Transforming material supply chain for US electric utilities: Material logistics benchmark study 2011
As a source of cost reduction, supply chain has been a key area of focus for many US Electric utilities. So where should companies focus for additional cost reduction after strategic sourcing has run its course?