Specifics for the “Build Back Better“ (BBB) reconciliation legislation have finally begun to emerge amid contentious intra-party debates within the Democratic caucus. The massive bill encompasses large portions of the Biden domestic political agenda, and debate is ongoing in Congress on the final scope of the bill and how its initiatives will be paid for.
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 MoreTax basis balance sheets (“TBBS”) are a foundational part of any tax department’s controls. While invaluable for supporting tax positions for financial reporting, without proper maintenance these critical workpapers can quickly develop inaccuracies. More and more utilities are finding that their tax basis balance sheet controls are insufficient, and without proper automation, this can lead to an immense and recurring manual effort for tax departments looking to preserve reliable tax accounting records.
Read MoreIn March, the Biden administration unveiled a $2.3 trillion infrastructure plan which included many proposals that specifically target the energy industry, including expanded renewable energy tax credits, mandates for utility system modernization, and transitioning the power sector to emissions-free electricity by 2035. Congressional Republicans responded by releasing a $568 billion counter-proposal which included a more limited scope of what qualifies as infrastructure. Since that time Biden has offered to cut his plan to $1.7 trillion, and Republicans have countered again with second counter-proposal of $928B.
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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