Utilities, pipelines and transmission companies are responsible for the movement of electricity, natural gas, crude oil, petroleum products and water from their sources to customers around the world. These capital-intensive companies are tasked with providing services to their customers at low cost, while maintaining near perfect records for reliability. In today’s world, they have the added complexity of more consumers also being producers.
Regardless of the sector, utilities often face a common set of risks. Today’s companies must manage and preserve the strength of their balance sheets and credit profiles, the economical supply of commodities and the ongoing compliance with Code of Conduct and other regulatory requirements. Operational efficiencies must also be realised in systems, organisations and business processes to help manage ratepayer costs and preserve future earnings. Common risks these organisations tend to face include environmental health and safety, facility maintenance, capital project management and business continuity. Typically, these organisations are only visible to the public when a crisis occurs such as an accident, a storm or some other type of service disruption. At that point, reinstating service becomes the most important and immediate issue for the community.
Protiviti’s experienced professionals help utility, pipeline and transmission companies identify, measure and manage their regulatory, financial, operational, and technology-related risks. Our energy professionals possess finance, technology, accounting and engineering backgrounds, and a wide range of industry experiences. We bring this expertise to your organisation through unmatched collaborating, creating custom solutions that fit you and help you to face the future with confidence.
We help energy and utilities organisations manage critical business challenges to help them face the future with confidence. Here are some of the most pressing issues we are helping organisations to address.
Energy and utilities companies are often a target for cybercrimes. Confidence in cybersecurity does not come from knowing nothing will happen, it is achieved by knowing all the things that can happen and preparing both proactive and reactive solutions. Protiviti provides a holistic approach that defines what is most important to you, helping you protect yourself from unauthorised access and also react quickly and comprehensively when a breach occurs.
Trends in distributed resources, regional markets and the overall demand for increased flexibility are driving major transformation efforts for energy and utility companies. We help you to see the opportunities in fast moving markets, aligning people, processes and technology to transform your organisation and help you to face the future with confidence.
All energy and utility organisations want to improve how they understand, organise and leverage their data assets. The challenge is identifying and capturing information in disparate systems, including those outside a company’s walls, and then organising and managing this information to create business insights. Protiviti takes a pragmatic “one size does not fit all” perspective. We tailor solutions that fit your organisation, enhancing business value through more efficient collection, distribution and usage of information.
Globally, there is an increase in performance-based regulation, in which power providers earn more by delivering on policy objectives such as energy efficiency or system resilience, rather than earning a profit based only on capital costs or volume of sales. We can help you address this and other emerging trends, along with existing regulatory demands, through innovative solutions that position your organisation for sustainable performance and compliance now and in the future.
Cost and Performance Management
Fluctuations in the price of oil and natural gas have energy companies seeking smart places to reduce costs today without limiting their future prospects. In addition, the capital investments and projects that drive exploration, refining and delivery, too frequently go over budget and off schedule. We help you identify and implement cost management and cash flow improvement efforts that drive performance, in both good times and those more challenging.
Transactions, Mergers and Acquisitions
Volatility in energy prices impacts each organisation differently. At one end of the spectrum are companies looking to restructure to weather difficulties or find buyers for all or some of their operations. At the other end, are companies looking for opportunities to acquire assets, rights or organisations or seeking capital from public or private markets. In all these situations, we provide independent due diligence services and help you take action to maximise value available today and position you for success in the future.
Evolution of Internal Controls
In the fast-changing energy market, control is critical to success. The demands on internal audit and finance functions continue to increase as the expectation today is not just for accurate reporting, but insights that improve the business. We can help you steer your company with greater precision and prescience, increasing confidence you are on the right path with world class internal audit and finance functions.