Love it or hate it, as with any substantial paradigm shift there isn’t really a good way to stand still, at least not for long. The EPA’s proposed Clean Power Plan rulemaking represents a significant shift in pollutant emission regulation; and cognizance aside, it is going to affect the majority of U.S. businesses and residents.
That said I’ll spare you the hyperbole; no one re-invented the wheel and most everyone following the EPA saw this coming. While nominally it is marketed as “The Clean Power Plan,” the proposed new standards are just that, standards. Compliance lies almost exclusively with the states, through their State Implementation Plans, and the utilities and power plants operating therein. Developing a state-of-the art, easy-to-use risk assessment and compliance plan is the perfect challenge for today’s industry leaders. This is the ideal outlet for all of the data that is already being generated as we transition to a “smarter” more connected economy and society. You’ve probably heard all the appropriate buzzwords; ‘smart grid’, ‘the internet of things’, ‘data-mining’, etc. From utility billing and load forecasting to end-user thermostat controls or laundry schedules; the most effective compliance plans are going to rely on analytics and data-driven decisions from both a top-down and bottom-up perspective.
The tools necessary to make the decisions are already in our bag, applying solid analytics and policy acumen, West Monroe Partners is fine-tuning its Risk Assessment Framework for applications helping states and industry leaders comply with the pending carbon regulations. Don’t be the one caught standing still while the world changes around you; lead the change. We can help! For more information on our Energy & Utilities practice, visit our webpage.