Rate case filings by US regulated utilities have increased rapidly in recent years. Despite increasing filing complexity and millions of dollars on the line, many still depend on Excel spreadsheets and home-grown databases to perform vital regulatory tasks. It’s a practice that should be reconsidered. We take a look at better solutions that can reduce risk and increase speed and accuracy – something that’s essential considering the amount of revenue at stake with each filing.
Regulatory software solutions can improve your regulatory process in many ways. Before getting started, utilities should evaluate the need for change. This includes capturing areas of needed improvement, available options, benefits and costs.
It is also important to have an understanding of how long the project will take from start to finish. To help you, in our report, we’ve included an example of a possible timeline and other important lessons valuable to any company considering improving its regulatory function.