Certain services may not be available to attest clients under the rules and regulations of public accounting. 524 0 obj <>stream Getting the full value, however, requires rethinking their strategy, culture, and organization. %PDF-1.6 %���� In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. In this edition, we look at the issues faced by power and utilities companies. As the U.S. power and utilities industry continues to transform, more flexible regulatory initiatives may bring new opportunities. %%EOF Financial statement presentation ; Leases (ASC 842) Financing transactions ; Stock-based compensation ; Foreign currency ; Loans and investments (post ASU 2016-13 and ASC 326) Transfers and servicing of financial assets ; Utilities and power companies Power & Utilities: Accounting, Financial Reporting, and Tax Research Guide: July 2018, Telecommunications, Media & Entertainment, A power and utilities perspective: Tech Trends 2019, 2021 power and utilities industry outlook. Financial reporting in the power and utilities industry 3 Foreword International Financial Reporting Standards (IFRS) provide the basis for company reporting all over the world. Financial reporting in the power and utilities industry: International Financial Reporting Standards. Carbon prices Carbon prices increased moderately between April and May 2018 reaching EUR16.27/T, then declined to EUR14.99/T at the end of June. Over 100 countries either use or are adopting IFRS reporting. Power and utilities companies will need to determine whether promised goods or services should be accounted for as a single performance obligation (i.e. Data collection and exchange are growing exponentially, creating digital threats but … Certain sections of this publication are designed to help you understand and address potential challenges in accounting and reporting related to topics on which the FASB has recently issued (1) proposed guidance or (2) final standards that are not yet effective or available for adoption. How can companies navigate the complex factors at play while continuing to create value for their stakeholders? The UK energy supply industry is facing its biggest shake-up since deregulation. a ‘series’), as well as the effect of the new standard on alternative revenue programs, requirements contracts, renewable engery credits and … 427 0 obj <>/Filter/FlateDecode/ID[]/Index[413 112]/Info 412 0 R/Length 93/Prev 795400/Root 414 0 R/Size 525/Type/XRef/W[1 3 1]>>stream This publication discusses accounting, tax, and regulatory matters that P&U entities will need to consider as a result of these changes, including updates to SEC, FASB, and tax guidance, and focuses on specialized industry accounting topics that frequently affect P&U companies, including rate-regulated entities. In this edition, we look at the issues faced by power and utilities companies. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Power & Utilities Accounting, Financial Reporting, and Tax Research Guide has been saved, Power & Utilities Accounting, Financial Reporting, and Tax Research Guide has been removed, An Article Titled Power & Utilities Accounting, Financial Reporting, and Tax Research Guide already exists in Saved items. Our extensive library of publications provides the means to help you gain a better understanding of the principles of International Financial Reporting Standards (IFRS), as well as IFRS for the UK and UK GAAP. The EEI Financial Review is an annual report on the financial performance and strategic direction of the electric power industry. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. Please see www.deloitte.com/about to learn more about our global network of member firms. With new competitors and technological innovation inspiring enhanced products and services, energy suppliers need to adapt quickly if they want to retain their customers and their trust. The most difficult issue for the power sector will be the application of . Distributed renewable generation, new digital technologies and changing consumer expectations are creating a new energy world that is more complex, competitive and challenging. endstream endobj startxref © 2021. Do not delete! Whether companies enjoy the promise of this innovation depends on how they embrace the potential of new technology as the vanguard for industry … 24 Harnessing the power of advanced analytics in transmission and distribution asset management Advanced analytics is helping T&D operators improve performance, h��T�OSW��{�˕��"`[�TE-�2����b�ijL��P̍���"�9v=�f+�T�Æ��Z}Ш��\ŘB4�F�$�%Ą`B�E����s�-�� ����������s� � ��!�,g13�D팀�� a�����r*���ă��H��†�9W��S�+�`]�?h_v�� beV�6�xk �IO�#��o��B�զ�x ��VY��ϊzT�9Iv��G�k2,9�K���җhT�a�R._5Wb��G}臰�|$s���¼�خ#�]i��H�7��j}�Z����Ȓ$zJ���epu'�#f�)�4g�~ ۶ �i�� 9�J%G&ӓɑ��$�#I����"+�,SJ��G=��Ž#pa���k�!�f���7���������V��]q����J_����=�{�ݛK�p�+"�D��������5;/.��L)?��kľ��Ϭ�a9�p�u4zy��[7�״��.�Y�)g��"�L�K�e=��6tߗ�ou�Tي�Fm��=���׊}w������v�C��L?cb�KFٟ�9��S9q�=l�h�w�V. Historically in our survey, the Energy and Utilities industry group tends to have relatively consistent results. Florida’s Public Power Utilities Florida’s 33 municipal electric utilities, combined, are the third largest electric provider in the state, serving 14 percent of Florida’s customers. Discover Deloitte and learn more about our people and culture. The power and utilities sector faces radical transformation. See Terms of Use for more information. 0 Our publication discusses such proposed and codified standards and highlights nuances that could affect our industry. 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