On October 15, the IRS issued PLR 202141001 for regulated electric utilities. In its ruling, the IRS reiterated earlier assertions that the net deferred tax asset (DTA) related to the cost of removal (COR) is not subject to normalization, but also added clarification that the deferred tax liability (DTL) and DTA from the salvage value is subject to normalization rules.
Read MoreSmart meters are an important technology for the modern electric power industry and are revolutionizing the way customers interface with energy grids. By enabling rapid two-way communications between electric companies and their customers, smart meters provide new and expanded services and enhance energy grid resiliency and operations.
Read MoreUtilities are bracing for a digital revolution, though according to a recent report most executives in the sector agree that their businesses are not prepared for it.
In the Digital Transformation and the Workforce Survey commissioned by EY Power & Utilities, nearly 90% of executives report having too few digitally savvy workers is frustrating their ability to adopt digital technologies. Not only is the problem of an insufficient workforce staring them in the face, by most of the respondents surveyed are lacking a plan on how to proceed. With near-universal agreement (94%) on the need for direct investment in technology and the workforce, utilities are soon to be left scrambling for solutions. The transformation of the power industry will be based on technology, but it will be driven by people.
Read MoreThe average consumer notices their power consumption two times: when their lights go out and when they are paying their bill. The rest of the time, electric customers generally do not think about the role electricity plays in their day-to-day life or just how much electricity they use on any given day.
Part of the reason that power consumption is not thought about much is that it can be difficult to conceptualize, especially given some of the unique terminology. To help understand power consumption, the following infographics provide a comparative analysis of electricity use.
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