State of the Electric Utility 2015 – Numbers to Remember

State of the Electric Utility InfographicHere are other numbers that may catch your attention:

32% forecast that their utility will become an energy services company, way different from traditional vertically integrated utilities.

Energy efficiency and demand response are the new business models for 71% of the executives.

For 23%, developing new unregulated business models are the way to mitigate the impact of stagnant load growth.

82% state that the investment into the grid’s security is going up.

53% of the executives are 50 years old or older.


Mutual AidAsset,Critical Spares Twitter BannerAlerts for winter storms are increasing. Prepare yourself through our mutual aid platform. Be also able to locate potential equipment replacements through our eMaps tool. Learn more about our Mutual Aid & Critical Spares Management Solution for Utilities: Veracity Connect, collaborative platform

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12 Utility Trends For 2015

2015 Trends Utilities

A New Year always brings its surprise bag of trends and predictions. Based on statistics or just wishes, the electric grid has deeply changed and keeps moving forward. These selected articles and posts will give you the insight you need to better understand the coming year.

Regulations: Coal Cold, Helpless Wind

regulations utilities

 Smart Grids

smart grid tech_2 utilities

Distributed renewables

Distributed renewables are the spearhead of smart grid, shifting the power from utilities to utilities AND its “prosumers” (professional or proactive consumers). Solar panels, geothermal systems or small windmills enable consumers to have a better control over sources of energy, decreasing their dependency on energy providers.

 

A Few Meters Away

Smart meter utilities

Smart meters are the key innovation in the realm of utility consumption. They open the door of big data and allow companies to use the power of analytics, as well as automation. Adjusting demand and supply is not a manual task anymore. Nevertheless the smart meters do not make the world rosier, for the time being.

 

Social Media

Social Media Utilities

Live tweeting and social media posts have made communication a little bit more easier between customers and utilities. The best example is planned and unplanned outages, when utilities inform customers concerned by a black-out or vice-versa, even though people are encouraged to directly contact utilities by phone to signal an outage in their area.

Solar is the new stellar source of energySolar panel installation

 

Spare Power: Bid on it

AdvancedBatteries_Icon energy storage

Nuclear or no nuclear

Hamaoka-Nuclear-Power-Plant-in-Japan

Cyber Attacks

cyber-risk utilities

 

Physical Threats

Metcalf Substation utilities

 

Mutual Aid & Emergency Response

utilities electric9e-1-web

 

Electric Vehicles

Symbol_electric_vehicle_charging_stations

 2015 should be a very dynamic year for utility companies, industry partners and consumers. The sector’s landscape is changing in a faster way. Technologies have opened new opportunities to make the grid smarter, manage assets more efficiently and ensure a better match between demand and supply.

Go further

For a deeper insight on how technologies are changing the utility sector, we invite you to watch 10 Trends and Technologies to Impact IT Over the Next Five Years, a webinar recently published by the consulting firm Gartner.


Mutual AidAsset,Critical Spares Twitter BannerLearn more about our Mutual Aid & Critical Spares Management Solution for Utilities: Veracity Connect, collaborative platformMake electrical equipment procurement easy and efficient. Locate a matching power transformer before a failure occurs!

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June Digest – Time to Catch Up!

Summer is here, but it does not mean that the energy sector is on holidays!

Catch up on what happened with our June Digest.June Digest Veracity Asset Management GroupUtilities Standards Forum Veracity Asset Management GroupVeracity Asset Management Group introduced Veracity Connect to the Utilities Standards Forum Members. http://wp.me/p2EjZw-32

 ISO14001 Veracity Asset ManagementThe new standard ISO14001 is to be drafted this year and released in 2015. What will be the impact on companies, their supply chain and their sustainability practices? http://wp.me/p2EjZw-3b

Veracity Asset Disposition ManagementFind out how the 7 ways to dispose of your surplus equipment can help your company maximize the value of these assets: http://wp.me/p2EjZw-3m.

Veracity Connect Critical SparesCritical spares in the utility industry? Get a better idea with this infographic: http://wp.me/p2EjZw-3D

Veracity Newsletter Investment Recovery Critical SparesIn your mail box: Veracity Connect June newsletter. Reconditioning as an investment recovery method, our clients’ feedback and corporate sustainability are on the menu. http://wp.me/p2EjZw-3H.

Subscribe for the next one! Veracity Connect newsletter Sign up

Large Power Transformers and The U.S. Electric Grid Veracity Critical SparesThe “Large Power Transformers and the U.S. Electric Grid” report was released last April. Here are the 9 key facts which explain why large power transformers are critical to the US energy sector. http://wp.me/p2EjZw-3S

Go further with our website: www.veracityamg.com

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And contact us at info@veracityamg.com and 1-866-694-1252!

May Digest: Catch up on our May blog posts!

Veracity Asset Management Group May DigestHere is the summary of our May blog posts:

Veracity Connect, collaborative platform Unlock the POWER of Collaboration with Veracity Connect and learn more about our collaborative platform for critical spares management for North American utilities: http://wp.me/p2EjZw-1B.

discovery-2013-ontario-centres-of-excellence Our Veracity Team was in Toronto to attend Discovery, the Ontario Centres of Excellence 2014 Convention at the beginning of May: http://wp.me/p2EjZw-1N

Veracity Asset Management Group LinkedIn We recently launched our LinkedIn Showcase page for Veracity Connect: http://wp.me/p2EjZw-2d

Veracity Asset Management “Rejuvenating” Equipment, an Alternative to Buying New: http://wp.me/p2EjZw-2t Reconditioning equipment and parts is an alternative to sending them to landfills.

Veracity Newsletter Investment Recovery Critical Spares

Take time to check out our May newsletter: http://wp.me/p2EjZw-2z. You can easily subscribe for the next ones by clicking here.

Veracity Connect Article Highlight: Sustainability, Investment Recovery and Supply Chain: http://wp.me/p2EjZw-2P Find out how investment recovery is the missing link of your supply chain, and a pillar in your sustainability policy.

Veracity Asset Management Group Social MediaShare your thoughts with Veracity on social media! http://wp.me/p2EjZw-1P It is a convenient way for us to learn more about what matters to you.

You can also contact us at 1-866-694-1252 and info@veracityamg.com!

In Your Mail Box: Veracity Connect June Newsletter

Veracity Connect Newsletter Investment Recovery

Our June Newsletter is out! This month, we zoom on:

  • The 7 R’s of Investment Recovery – “Recondition”
  • Veracity Connect presented to the Utilities Standards Forum Members
  • Your Feedback about our services!
  • Investment Recovery & Corporate Sustainability
  • The Value of Critical Spares
  • Veracity at the EDA Commercial Steering Committee

Click here or on the mail to see the full newsletter:

Veracity Newsletter Investment Recovery Critical Spares

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Supply Chain & ISO14001: Connecting Sustainability and Investment Recovery

This blog post highlights how supply chain, new ISO14001 and sustainability are linked.

The article “ISO14001 Revisions – An End To Box-Ticking Culture For Sustainable Procurement?” by Mark Plant, CEO of Ecodesk, highlights the new standard ISO14001, which is to be drafted this year and released in 2015. What will be the impact on companies and their sustainability practices?

ISO14001 Veracity Asset ManagementFor a short reminder, the ISO 14000 standard system focuses on environmental management. The International Organization for Standardization defines it as “practical tools for companies and organizations looking to identify and control their environmental impact and constantly improve their environmental performance.” The main goal is to help companies “effectively measure and reduce their environmental footprint”.

ISO standards are not compulsory at all, but it is an excellent sign of good practices and a requirement for most large tenders. Large companies are more likely to go through the ISO certification as they are expected to be leaders in these good practices, toward their customers, suppliers and societal partners.

What are the goals of ISO14001?

  • Improves business performance through rational use of resources and processes
  • Reduces raw material usage, waste generation and disposal costs
  • Lowers energy consumption
  • Fosters optimal use of recoverable resources

Although it sounds very theoretical, these standards have shaped numerous sustainability policies and practices.

Companies in the following sectors will be more likely to adopt ISO14001:

  • Waste management
  • Heavy machinery
  • Petrochemical industry
  • Agro- industry
  • Pharmaceutical and medical sectors

Companies will have to improve their “sustainable procurement strategy”, as mentioned by Mark Plant, “a set of environmental procurement requirements will have to be set and communicated to the supply chain.”

Taking into account environmental aspects (carbon footprint, type of materials, hazardous waste management) becomes a key factor in implementing and maintaining your supply chain, i.e. acquiring goods or services at the best possible cost in terms of quantity, quality, location and time.

How do we link sustainability, supply chain and ISO14001?

We often only think of the supply chain as a one-way path. Nevertheless, ISO14001 reinforces the importance of thinking about the other hidden side of the value chain. What happens to a company’s surplus? Should it end up in a laydown yard or be sent to a landfill? ISO14001 Veracity Asset Management

Surplus asset management, also called “investment recovery” by practitioners, meets the goals of ISO14001, and should be practices complementary to your procurement program.

ISO14001 Managing your surplus assets
Improve business performance through rational use of resources and processes Identify assets and recover the highest value of idle items
Reduce raw material usage, waste generation and disposal costs Send materials to raw material streams through scrapping and recycling
Lower energy consumption Buying second-hand assets saves on transportation and manufacturing new units
Foster optimal use of recoverable resources Reusing and redeploying avoid manufacturing and buying new units

We can also add to this chart that the investment recovery process provides a full audit trail, required by any ISO standard, mitigates risks and reduce corporate exposure to environmental liabilities.

“Essentially ISO14001 is an opportunity to put in place value chain processes that can have a tangible benefit to the business but the hurdles to jump are higher and for any businesses not prepared to take supply chain sustainability seriously, the road to accreditation could also be a very long one” said Mark Plant. You can reach sustainability by also managing your surplus assets.

Go further with:

Investment Recovery: http://en.wikipedia.org/wiki/Asset_recovery

Sustainability, Investment Recovery and Supply Chain: https://veracityamg.wordpress.com/2014/05/22/article-highlight-sustainability-investment-recovery-and-supply-chain/

Rejuvenating equipment: an alternative to buying new: https://veracityamg.wordpress.com/2014/05/14/rejuvenating-equipment-an-alternative-to-buying-new/

ISO14001: http://www.iso.org/iso/home/standards/management-standards/iso14000.htm

http://www.iso.org/iso/ps-pub200002.pdf

The article “ISO14001 Revisions – An End To Box-Ticking Culture For Sustainable Procurement?” by Mark Plant: http://www.procurementleaders.com/blog/my-blog–guest-blog/iso14001-revisions—an-end-to-box-ticking-culture-for-sustainable-procurement

Send us your thoughts and questions through the comment box below, our social media platforms or info@veracityamg.com!

 

 

 

Article Highlight: Sustainability, Investment Recovery and Supply Chain

In the article “How the Social Supply Chain Powers Responsible Investment Recovery”, published in the Asset 2.0 magazine of the Investment Recovery Association, Julie Urlaub offered a very interesting overview of the role played by investment recovery in the sustainability strategy. Julie Urlaub is the Founder and Managing Partner of Taiga Company (http://taigacompany.com/), which specializes in social media and sustainability consulting. We would like to highlight 3 key points of her article. The quotes in this post are all from Julie Urlaub.

Supply Chain, Investment Recovery, Sustainability1) Sustainability: it should be in every corner of your business

Sustainability is everywhere, even though you may not call it this way. Indeed, a company that has adopted responsible sourcing methods, played a role in environmental stewardship and optimized the efficiency of every department has already entered the sustainability world.

“Executives from all facets of the organization are finding reasons to care about sustainability.”

Being sustainable is becoming a real corporate concern, and sometimes a boost effect. It is difficult to shape a business strategy without taking it into account. Remember the numerous scandals about PCB-leaking equipment sent to the landfills, or sourcing toxic raw materials. These companies’ brand and reputation are still paying the price of ignoring the other side of their business strategy.

According to Julie Urlaub, sustainability answers several matters:

  • Regulatory compliance
  • Environmental stewardship
  • Transparency
  • Pollution and water risk
  • Corporate reputation

2) Investment Recovery and Sustainability: a discreet but natural link

Investment recovery, also called surplus asset management or disposition management is not new. Yes, Michael Porter did not integrate it in its Value Chain Analysis. But we can see investment recovery as the hidden part of the supply chain and a pillar in business sustainability.

For a reminder, investment recovery can be defined as the practice of recovering the highest value of assets no longer needed by a company. Recovering can be referred to the different ways a company can efficiently dispose of its idle or obsolete items. Here are some of them:

  • Redeploying: reusing these items within another branch of the company
  • Reconditioning: refurnishing them in a like-new condition
  • Returning to the manufacturer or the vendor of this equipment
  • Reselling to buyers
  • Recycling: the items can be scrapped and sent back to the raw material streams

Investment Recovery naturally meets 3 main pillars of sustainability: Economic development, Social responsibility and Environmental stewardship.

“By pairing investment recovery with corporate sustainability, you will elevate the IR function in your organization.”

3) Bringing investment recovery and sustainability to the next level: supplier collaboration

Disposing of surplus assets, in the frame of an investment recovery program, means maximizing the financial return, and knowing what happens to these obsolete assets.

“IR professional have an opportunity (and responsibility) to connect the dots between investment recovery and sustainability to make it visible to stakeholders.”

Julie Urlaub sees collaboration among suppliers as the next step in better business practices. Adopting an overall approach of the supply chain and implementing a solid sustainable policy allows companies to mitigate risks. Purely focusing on costs works on the short-term, but significantly increases corporate risks in the long-run.

Collaboration among companies and suppliers helps make the supply chain “more responsible, resilient and efficient”. The number of procurement groups and trade associations is consistently increasing, showing that collaborating impacts the sourcing process. Availability, better prices and knowledge sharing are some of the advantages.

Go further:

 

“Rejuvenating” Equipment, an Alternative to Buying New

Veracity Asset Management At the beginning of April 2014, AREVA Inc., leader in nuclear energy, reached an agreement with the company Novinium to “rejuvenate” the underground cable infrastructure of its nuclear plants. AREVA makes the decision of not buying brand new cable.

An article of Electrical Line Magazine* tells us more about it: “Novinium’s cable rejuvenation technology restores the full dielectric strength of a cable to a like-new condition and extends the life and reliability of these cables for 40 more years at a fraction of the cost and time it takes for traditional cable replacement.”

Here are some of the advantages:Veracity Surplus Asset ManagementBuying new is not wrong, but using “used” assets is not wrong either, especially when the efficiency of these assets is proven and when the bottom line does not always allow a full replacement of the equipment.

Novinium has been in the cable rejuvenation field for over two decades and estimates that its clients have saved overall $1 billion through rehabilitating programs.

What are your thoughts? Should considering “rejuvenating” or “reusing” be an essential factor in managing assets and surplus equipment?

Learn more about surplus asset management and how it can help your company: http://ow.ly/wNaNQ

Any questions, any comments, feel free to contact us at info@veracityamg.com, or through Twitter, Google and LinkedIn.

* http://electricalline.com/areva-and-novinium-provide-cable-rejuvenation-services-nuclear-industry?utm_source=EL+Newswire++April+29%2C+2014&utm_campaign=EL+Newswire+04%2F29%2F14&utm_medium=email

Corporate Sustainability – A New Perspective

After reading several articles on critical success factors for sustainable purchasing, the focus is always on the purchase. There is a huge gap in most large organizations that fails to understand the importance of surplus equipment, supplies and inventories. In many instances, the corporation may be able to avoid the purchase as it potentially has surplus items in one location that can be used at another? A key aspect in sustainability is to change the mind-set of buyers regarding used assets or surplus. With support of senior management, procurement can play a key role in ensuring that surplus items are not already available within the company, before committing to the new purchase.

This role called Investment Recovery or Surplus Management can be created within the company or contracted out to a company like Veracity who only specializes in surplus management. The key function is to help Procurement understand where surplus items may be within the organization and to redeploy those items into other departments and functional areas. Items that cannot be reused are then put through a rigid hierarchical process to maximize the value of the surplus. Not only is this a cost avoidance strategy, it is a success factor in corporate sustainability!

The Investment Recovery Association and Certified Managers of Investment Recovery(CMIR) work to maximize the value of surplus within an organization. Assets or surplus that is no longer required can then be traded in, sold, donated or recycled. The ultimate goal is to keep assets and inventories out of landfills and into hands of those who will re-purpose the item(s) and use it!.

Often people think about the cost when they think about environmental sustainability. Adding in the Investment Recovery framework can help shift that idea and show them it is possible to have profitable sustainability! Investment Recovery is often referred to as the missing link in supply chain and not only will it create immediate payback to the company but it also reduces a company’s environmental liability exposure risk.

To learn more about investment recovery, please contact Veracity Asset Management Group. Also be sure to check us out on Linkedin, Facebook and Twitter.

Veracity Asset Management Group