Utility Accounting Education Update
Here are insights to help keep you current in the business!
utilityeducation.com
April, 2022
This month’s issue is a bit of a smorgasbord. We highlight the SEC proposed reporting requirements for Environmental, Social, and Governance (ESG) metrics. Our 5-minute Guide to the Electric Industry is a great primer to get you “speaking electric” in no time. The NEW course on SASB ESG Reporting for Electric, Gas, and Water Utilities will jump start your ESG reporting metric and framework selection.
Not exactly your favorite cheese, sausage, and veggie platter, but a little something for everyone!
Developing an ESG Reporting Framework
Electricity 101 - Power Plant
In this Electric Industry 101 guide we'll give you a quick overview of the electric industry, i.e. how it’s organized, oversight, and, most importantly, how electricity gets to your home and business and electric rates are developed. If you are new to the electric industry, you’ll soon see that it is like any other manufacturing business, except that the manufactured product is invisible. Here are some insights.
SEC Issues Proposed Rules for Climate and ESG Risk Disclosures in Financial Statements
On March 20, 2022, the Securities and Exchange Commission (SEC) released a 506-page report on proposed climate, sustainability, and Environmental, Social, and Governance (ESG) disclosures for SEC-regulated organizations.
The regulations will add another layer of disclosure requirements to SEC registrants and cover disclosures related to the regulated entity’s business practices and, in some cases, the practices of the entity’s supply chain suppliers with which they do business. Most of the disclosures are effective for 2024 reporting, so there is time to develop business processes to measure the required disclosures and develop a reporting framework to use in reporting in stand-along reports and the financial statements.
The UAES article library covers introductory and advanced co-op, FERC, and utility accounting, developing electric rates, and financial management. We include practical examples you can use now in your electric cooperative or utility!
5-Ways to Improve Your Utility’s Bond Rating
The bond rating is a key measure of financial health. An organization can receive ratings from Moody’s, S&P, and Fitch. The bond ratings organizations use tools like the Moody’s rating scale to determine credit-worthiness. A high bond rating is key to maximizing cash flows. How do you drive a higher rating? Improving key metrics that Moody's, S&P, and Fitch analyze should be part of the utility strategy.
New to the electric business? Here’s a FREE course on industry basics - finance, operations, and regulation!
Welcome to the Electric Business
Are you new to the electric business and need to get up to speed quickly? This FREE course gives a high level overview of the business - operations, finance, and governance. Be an expert!
UAES Subscription
All Utility Accounting Education Specialists classes are now available only through a subscription!
Get a monthly, quarterly, or annual All-Access Membership!
Enrollment provides these benefits:
- Access to over 20 online/on-demand classes in electric industry accounting, finance, and strategy implementation
- Access to over 30 hours of free content!
- Spreadsheet resources you can use right now to enhance your electric construction accounting processes
- New courses added monthly!
Thank you for your support and interest in best practices in accounting, developing electric rates, and financial management. The Power and Utilities Industry is the foundation for a vibrant economy and an integral part of our society!
Just for reading this far down the newsletter you’ll get 20% off a 12 month UAES membership! Just use the code Newmember20 at checkout!
See you next month, or check us out anytime at:
Final thoughts for this issue - Spring is finally here with new energy and growth!! Here’s some quotes on energizing your goals:
“There are two primary choices in life: to accept conditions as they exist, or accept the responsibility for changing them.”
“Spring is painted in daffodil yellows, robin egg blues, new grass green and the brightness of hope for a better life.”