Get data-driven insight, identify improvement opportunities, and make more informed decisions for your power plant.
Whether from competitors, consumers, or shareholders, pressure to improve power plant asset performance is constant. Solomon’s Worldwide Power Generation Performance Analysis (Power Study) compares your plant’s performance to peers, regardless of technology, fuel type, or utilization, to identify where you stand and where performance gaps exist.
Solomon’s Power Study stands apart from traditional benchmarking by incorporating non-public data and proprietary Comparative Performance Analysis™ (CPA™) methodologies, key performance indicators (KPIs), and analytics to enable better decision-making and asset optimization.
Managing operations and maintenance (O&M) expense is a critical component to ensure a power plant’s competitive position within the market. Solomon’s patented Equivalent Generation Complexity (EGC™) cost normalization compares O&M “spending efficiency” across technology and fuel types, over the entire fleet of plants. Are you over-spending or underspending in O&M, or is your spending about right?
Solomon’s Power Study has identified that top-ranked performers are not uniformly excellent, and every industry decision involves trade-offs. To facilitate better decision making, the study subscribes to a “pacesetter” concept, a balanced performance standard that recognizes interrelationships in performance data and identifies performance gap closure trade-offs in availability, operating costs, and efficiency for further optimization of any given asset.
Each Study participant is ranked in efficiency, availability, reliability, sustainability, and operating cost. Top ranked participants are pacesetters used in a gap analysis that determines not only where, but why gaps occur in a facility relative to pacesetters. The expected benefits are quantified based on resources and priorities to justify and pursue specific improvement opportunities.
Participating in the Power Study is a valuable effort with great pay-back to ensure the success of your power plant.
Learn More & How You Can Participate
Obtain a clear picture of your competitive position with data-driven, actionable insight.
Join the Power Study today and create your roadmap to effectively manage resources, understand and improve financial and operational performance, make better decisions, and enhance your competitiveness.
Companies that regularly participate in Solomon’s Power Study achieve better-than-average performance, with
million USD per year per
MW in estimated annual savings.
- Compare with peers and identify improvement opportunities
- Focus attention on problem areas
- Determine frequency of recurring events
- Quantify lost revenue
- Assess and manage risk
- Adjust plant performance targets
- Identify resource reallocation opportunities
- Optimize asset and fleet operations commercially
Study recipients receive the following:
- Executive summary presentation with actionable insight supported by study data
- Workbook Files including validated input, study data, client tables, master events “lost revenue opportunity,” start reliability analysis, and trend data
- Workshop covering how to review and use the data analysis delivered
Closing Performance Gaps
What gaps do you struggle to close? What quick and near-term actions will have the biggest impact on performance excellence and profitability? We know what good looks like… and how to get there.
Data Quality, Benchmarking Methodology
A Foundation for Effective Comparative Performance Analysis and Decision Support
We prioritize the integrity and confidentiality of participant-submitted data and rigorously review that data before benchmarking begins. Then, we employ our normalization process and benchmarking methodology to provide valuable and trusted peer group comparisons that deliver meaningful KPIs. Finally, our staff of senior consultants apply their deep industry experience to develop practical insight and recommendations to enable your success.
If your organization is new to one of our studies or has experienced challenges completing the study data input forms, Solomon can help. Data quality and a proven benchmarking methodology enable results and insight you can trust. Contact us today!