Client
An integrated energy company engaged in electric power production, transmission and retail distribution operations; our client delivers electricity to three million utility customers. They own and operate one of the cleanest large-scale U.S. power-generating fleets with approximately 30,000 megawatts of electric generating capacity, including 7,000 megawatts of nuclear power.
Industry
Utilities
Project Scope
A state utility required 3rd party review of invoices during and after storm events.
- Real-time analysis of storm invoices totaling $1.586 billion
- Real-time analysis of logistics invoices totaling $317 million
- Reconciliation of errors with contractors to correct invoices
- Daily status reporting of analysis and reconciliations
- Approval of invoices for payment after corrections processed
Key Outcomes
Revenew’s real-time analysis of 12,103 storm invoices and 148 logistics invoices raised the bar on our client’s bottom line. A regulatory audit showed the accuracy rate of invoices to be > than 99%. In addition, we provided:
- “Lessons learned” management reporting
- Control Improvement Program post review
Return on Investment
The dollar sum of corrected errors discovered by Revenew exceeded the cost of service, which was invoiced on an hourly basis.
- Contractor invoices reduced by a net of $272.9 million
- 4,800% return on investment