PowerPlan's Regulatory Collaboration Engine Broadens Provision for Rate Case Management
ATLANTA, GA: PowerPlan, the Georgian purpose-built software platform that intelligently integrates asset data across multiple departments, automates key workflows and provides a detailed model of capital assets for its customers recently released Regulatory Collaboration Engine. This Engine abides by the distinctive needs of regulated utilities' and interstate pipelines' rate case management.
Auditors, interveners and regulators can get better transparency with PowerPlan's Collaboration Engine because it is a real-time revenue model that helps companies to decrease regulatory lag, while improving rate recovery time. With the new Regulatory Collaboration Engine, stakeholders can run concurrent structure and can provide feedback with suggestions. The standards of communication during the approval processes are raised with this and remove redundant models including errors.
"The amount of time spent preparing and reviewing a rate case is critical for regulated companies and each day the case is not approved can result in a significant financial loss," says Aaron Smith, Product Manager, PowerPlan.
Being an add-on to PowerPlan's patent pending Regulatory Management Suite, the Regulatory Collaboration Engine is further integrated with old PowerPlan products, as well as external data sources to deliver a complete solution for regulated asset-centric industries. The PowerPlan Regulatory Management Suite converts financial data into an integrated Regulatory Ledger with a strong analytics. It also provides complete visibility to the management team to make impactful and strategic decisions on how investments will affect the stakeholders.