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Power Solutions
Power Solutions helps utilities transform the way they operate by using benchmarking and advanced analytics to make better asset, portfolio, and customer decisions.
Power Solutions
Power Solutions helps utilities transform the way they operate by using benchmarking and advanced analytics to make better asset, portfolio, and customer decisions.
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What we think of Power Solutions
McKinsey's partner Robert Mathis talks about Power Solutions. Note this is a sample video.
What is it
Decarbonization, affordability, and security of supply are putting stress on traditional electric-power operating models. Emerging digital and advanced-analytics techniques like our Power Solutions present an opportunity for utilities to overcome these challenges, enhancing performance across the energy chain and capturing hidden value from business strategy and operations.
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We’ve worked with over 450 global power and gas utility clients since 2014. Here’s how…
How it works
Asset management
Improve performance and reliability and reduce costs by focusing time and resources on the assets that matter most. We transform network data into a condition-based asset-management strategy driven by the health and criticality of a utility’s assets
Generation-portfolio management
Extract more value from generation portfolios by optimizing scheduling and dispatching strategy. We use machine learning and advanced analytics to determine a utility’s maximum income potential, identify value gaps, and create a continuous-improvement program
Customer-value management
Identify hidden value pools. Our advanced-analytics modules help utilities minimize lost value from situations like payment delinquency and pinpoint incremental value potential through churn management, cross-selling, or customer segmentation
Power modeling
Inform strategy in the face of rapid power system evolution, with proprietary power modeling tools evaluating policy, energy trends, and forecasts for scenario analysis.
Power-grid benchmarking
Our power-grid benchmarking helps utilities understand their competitive position, achieve operational potential, and drive sustainable improvements. We bring over 10 years’ experience running electric-power benchmarks supported by a global database of more than 100 individual contributions from nearly 60 operators. We also have additional tailored diagnostic tools for specific areas, such as maintenance and asset management.
Advanced analytics
Our advanced-analytics and machine-learning capabilities help utilities improve operational performance while reducing costs. Our analytics are founded in rigorous electrical-engineering and technical models on which we leverage McKinsey’s extensive advanced-analytics capabilities and electric-power experts to help utilities better predict asset risk, identify improvement opportunities, and capture portfolio value.
And here is an example
We helped a utility reduce their customer service by $3M by migrating the IVR platform and designing customer centric call flows to improve self service on IVR.
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By working with us, you will have access to
Experts
Our industry and functional experts will be on the ground where and when you need them.
Helpdesk
Our helpdesk will keep doors open and commit to addressing your concerns efficiently and effectively.
Training
We offer coaching and build capabilities for your teams to deliver sustained improvements.
Implementation
We partner with you and co-create a firm path to implementation as part of the project.