The energy and utility market is experiencing quick and dramatic change. Not only will the value chain be impacted by the decentralized feed of “green power”, the advent of energy storage capabilities will be a disruptive "game changer." Society is changing and many countries are moving away from the notion of large centralized energy and more towards local sustainable initiatives. Changes in business practices due to the Internet of Things, Big Data and Robotics serve to further accentuate the need for business transformation. As utilities embark on this journey, we can help launch new products, conduct market studies in support of these entrants, and work with you in articulating strategies for the ever-changing vision of the Utility of Future.
UMS Group has historically supported companies in the implementation of Risk-based Asset Management. As the programs have matured and access to meaningful asset performance and condition data has expanded, organizations are challenged to leverage this information to further improve their decisions. A new vision, "Data-driven Asset Management," offers the opportunity to further extend the gains already realized in efficiencies (i.e. cost reductions) and effectiveness (i.e. performance improvements), while offering greater transparancy into the decision-making process. Within this new paradigm our product and service offerings continue to form a bridge between business strategy and day-to-day operations.
As the market shifts from fossil fueled generation to decentralized "clean energy", the challenge of redefining the value of current assets becomes increasingly relevant. In applying commercial asset management, utilities can account for the risk profile of the asset owner while extracting maximum revenues from existing and future assets, be they real or contracted. Given our conversance with the industry and proven asset management pedigree, we are well-positioned to offer products and services cross the full range of technical and commercial challenges (e.g. risk and credit management, organizational redesign, business modeling, and IT).
ISO 55000, focusing on the development of a proactive asset management system to manage assets from initial design through retirement (i.e.; asset lifecycle), provides the framework for our approach in creating organizational awareness, determining gaps in the overall asset management system, supporting the implementation of a program that optimizes the trade-offs between performance, cost and risk, training staff, and assisting companies in attaining certification.
In our never-ending quest for continual improvement, the opportunities and challenges presented in retrieving real-time asset condition and performance data will be pivotal in any company’s ability to predict and proactively react to any anomalies. In combining our well-established analytical prowess with a firm grasp of utility operations, we provide a suite of products and tools that can effectively mine data, produce meaningful insights, and lead the way to meaningful actions and interventions to mitigate risks and improve asset performance. The efficient capture of business knowledge, deployment of relevant business rules, and establishment of filters to focus the business analytics necessary to translate large amount of data into actionable information is our trademark.
Operational excellence is a key factor in defining the financial success of an organization. However, accomplished in the absence of a well-conceived regulatory strategy, such desirable outcomes can be severely compromised. As the world is moving toward tougher, tighter and more ubiquitous service level standards, this key factor will take on even greater importance. UMS Group has significant experience in assisting companies in defining a regulatory strategy, understanding and acting upon the organizational implications of such strategy (often beyond the regulatory arena), and/or supporting regulatory proceedings (ranging from base rate cases to prudence reviews).