Whether it’s coming from competitors, consumers, or shareholders, pressure to generate better asset performance is always increasing. That’s what makes Solomon’s Worldwide Power Generation Performance Analysis (Power Study) an increasingly valuable tool. The Power Study lets you compare your plant’s performance to that of others regardless of technology, fuel type, or utilization, allowing you to identify your plant’s financial gaps. Solomon will help you clearly interpret the data so that you thoroughly understand each gap and what is needed to correct it. We will help you make appropriate business decisions based on a foundation of solid, accurate, and detailed data so that you can maximize your assets and revenues.
Solomon’s Power Study is a powerful and effective decision-making tool that stands out from the tools offered by other industry benchmarking services. Its unique depth of detail lets you focus on specific opportunities for your plant while also helping you understand the significance and bottom-line value of each.
Why Choose Solomon’s Power Study?
The difference is better methodology combined with a commercial focus. The Power Study is based on an extensive array of information collected across every major facet of an operation. Rigorous validation and a proven methodology are applied to the data to normalize differences in fuel, technology, scale, complexity, and location, allowing for true, unequivocal comparisons.
In addition, by measuring an asset against the best in the industry across numerous dimensions, the study identifies performance gaps that enable assessment of an asset’s operations in financial terms. Best performance metrics are developed for different fuel types, technologies, and operating modes.
The following characteristics of the Power Study ensure that it provides the greatest accuracy and highest value to the participant:
- Common language and rigorous data validation
- Performance comparison at the generating unit and major equipment component levels
- Comparison to other geographic regions
- Market-based analysis of operation
- Absolute client confidentiality
How It Works
Solomon’s Power Study determines where a facility is operating relative to its top-performing peers across a wide range of performance indicators. It then assigns commercial values to performance shortfalls.
Our analysis gives you an objective understanding of your performance compared to others along numerous dimensions. This objective understanding makes possible effective resource management, improved financial and operational performance, and enhanced competitiveness of generating units as verified by a credible, independent third party. The information you gain from our study allows you to:
- Identify improvement opportunities.
- Pinpoint problem areas.
- Determine frequency of recurring events.
- Quantify lost revenue.
- Adjust plant performance targets.
- Identify resource reallocation potential.
- Optimize operations commercially.
Solomon’s methodology gives you the high-quality, detailed data you need to achieve success, and our experienced power professionals help you through each step of the process.
Solomon studies help you find answers to the critical questions key to your business success:
- How reliable are my facilities?
- How does my equipment utilization compare with that of others?
- Are my operating expenses comparable to those of companies with similar facilities?
- Do my facilities produce a competitive gross margin, taking into account my utilization and complexity?
- How do I compare across the range of performance in the industry?