Get the insight you need to identify improvement opportunities in your power plant.
Whether it’s coming from competitors, consumers, or shareholders, pressure to generate better asset performance is always increasing. Solomon’s Worldwide Power Generation Performance Analysis (Power Study) compares your plant’s performance to others, regardless of technology, fuel type, or utilization, allowing you to identify your plant’s financial gaps.
The study determines where a facility is operating relative to its top-performing peers across a wide range of performance indicators. It then assigns commercial value to performance shortfalls. Our analysis enables you to effectively manage resources, improve your financial and operational performance, and enhance the competitiveness of your generating units as verified by a credible, independent third party. This process gives you the data-driven, objective support that you need for your important decisions.
The insight gained allows you to identify improvement opportunities, focus in on problem areas, determine frequency of recurring events, quantify lost revenue, adjust plant performance targets, identify resource reallocation potential and 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. After study results are delivered, we can provide expert guidance to help you close gaps, improve performance, and track your KPIs on an ongoing basis.
Learn How You Can Participate
Obtain a clear picture of your competitive position with data-driven, actionable insight. Make informed decisions and justify your strategies and improvement projects.
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.
How Do You Compare?
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?
Action Planning Workshop
Solomon's benchmarking studies uncover valuable information and opportunities to improve. Identify and prioritize your next steps to close gaps and enhance results. Go beyond benchmarking.
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.