Enhancing regulatory performance through capex project controls

During a new regulatory period, an electricity transmission operator had to deliver a series of network replacement outputs for lead asset categories in accordance with the terms of its licence. More specifically, this meant improving the visibility of its cost performance and project reporting, something that would need to be achieved through the right control framework and more robust management reporting capability.

Enzen worked closely with the customer to produce a gap analysis for the reporting of Regulated Asset Value (RAV). The team developed a baseline management approach, then implemented fit-for-purpose performance reports to provide better visibility of cost forecasts against sanctioned budgets.

Thanks to this collaboration, Enzen helped improved the accuracy of the customer's forecasts, safeguarded revenues for £30m worth of capex projects and achieved more effective cost and schedule performance tracking for 80% of its circuit breaker interventions. Outage milestones were also identified at 82 locations, helping the customer to improve planning and manage cost even further.

Enzen also highlighted major variations between budget and actual costs and increased the customer's control of critical performance management data. This saved time, enhanced the quality of data and reduced the potential risk of financial liabilities under the new regulatory regime.