Big Takeaways From 7 Electric Utility Strategic Plans

Whether you’re a public energy company or an electric cooperative, it can be challenging to create a clear and thorough strategic plan. If you’re at a loss on where to begin, or have a plan but know it needs to be improved, take a look at these strategic plan examples from other utility companies. We’ve included our takeaways on each to help you recognize what might be important to include in your own plans. Sometimes, the best way to learn is from others in the industry.

Public Utilities

Platte River Power Authority (PRPA)

Platte River Power Authority (PRPA) is a not-for-profit wholesale electricity generation and transmission provider serving the Colorado communities of Estes Park, Fort Collins, Longmont, and Loveland. PRPA's 2023 Strategic Plan is the utility's latest update.

Takeaways

PRPA's continual planning process is important because it allows the utility to adjust to changes in the environment and competitive landscape, including new technologies. Another benefit of regular updates is that PRPA will be very familiar with the strategic plan, which greatly increases the odds of successful execution.  

The plan includes all the right foundational elements, such as strategic initiatives and implementation areas. Also, the company links its planning efforts together (resource planning, risk management, financial and regulatory planning, and municipal planning) in a consistent manner. The strategic plan is well formatted in an easy-to-read document. While it doesn’t show progress in achieving measures from previous plans, it clearly communicates priorities for moving forward.

Austin Energy (AE)

Austin Energy (AE) powers the city of Austin, Texas, and nearby areas, making it the eighth largest public utility in the U.S. Since it’s a community-owned utility in a deregulated energy environment, AE sells its energy to the grid and then purchases what it needs from the grid for its community. The company is currently executing its Resource, Generation and Climate Protection Plan to 2035.

Takeaways

‍One of the strongest components of this strategic plan is how the utility spends several pages fully defining the complicated environment in which they operate, and the risk and scenario planning they used to develop the plan. As a community-owned utility navigating a deregulated market, AE has many stakeholders with diverse interests, so clearly outlining this ensures they are informed enough to effectively engage.

The strategic plan also includes an appendix that provides additional resources and data supporting the community objectives and key actions discussed throughout the document, offering a deeper insight into the planning process.

Seattle City Light (SCL)

The tenth-largest public utility in the U.S., Seattle City Light (SCL) provides electrical power to Seattle, Washington, and surrounding metropolitan areas. SCL creates six-year plans, the most current being its 2025-2030 Strategic Plan.

Takeaways

‍This strategic plan sells a future. SLC has a noticeable focus on clear communication, explaining its full planning process in detail and reviewing accomplishments from the 2019-2024 plan. SLC also explains current strategic priorities and initiatives in detail. The primary benefit of a plan like this is offering full transparency to its customers.

Cooperative Utilities

Kaua‘i Island Utility Cooperative (KIUC)

Kaua'i Island Utility Cooperative (KIUC) is the only electric cooperative in the state of Hawaii and one of the newest in the U.S. We took a look at its 2023-2033 Strategic Plan Update.

Takeaways

‍This strategic plan is short and sweet. KIUC gives a history of how it became a cooperative and the notable accomplishments that have happened since its founding (including renewables, reliability, lowest rates, etc.). KIUC’s plan then lists 3 strategic goals with objectives that guide its behavior through the life of this plan, and wraps up with its vision, mission, and culture.

This strategic plan is a good example for utility companies needing a simple, high-level format that doesn’t include many metrics in the published version.

Pedernales Electric Cooperative (PEC)

Pedernales Electric Cooperative (PEC) is a not-for-profit rural electric distribution and utility cooperative in operation since 1938. Based in Johnson City, Texas, the cooperative has a five-year strategic plan.

Takeaways

PEC's 2021-2026 strategic plan focuses on providing safe, reliable, and affordable power while managing rapid service area growth and evolving industry standards. The plan emphasizes the importance of stakeholder engagement and commits to regular updates to ensure transparency and adaptability. Through these initiatives, PEC aims to uphold its reputation for excellent service while preparing for future challenges and opportunities.

Overall, this strategic plan shows a lot of thought and organization. The plan clearly shows themes, initiatives, and strategic direction, and is well-designed. PEC is a great example for other utilities to use as a guide.

New York Independent System Operator (NYISO)

New York Independent System Operator (NYISO) is a not-for-profit corporation that controls and coordinates the power flow over New York State’s electric grid. The company is currently operating under its 2021-2025 Strategic Plan.

Takeaways

‍NYISO’s strategic plan reflects its purpose of balancing the supply and demand of electricity across New York State. The plan includes a set of strategic objectives that are clearly defined, as well as strategic initiatives for a five-year period. In general, the strategic plan does a nice job of outlining the overall objectives and ongoing actions.

Private Utilities

Exelon Corporation

Based in Chicago, IL, Exelon Corporation operates in 48 states, Washington D.C., and Canada. It is a Fortune 100 energy company.

Takeaways

‍The strategy of a private, for-profit energy company isn’t easily accessible, but we can learn things from looking at Exelon’s website. It’s most helpful to review the company’s integrated business model; and its strategies for distributed generation, innovation, and sustainability (you can easily picture a strategy map with these themes). This is all underpinned by a culture of innovation. Exelon could have chosen a culture of integration, given the number of its recent acquisitions, but chose to focus on innovation and continued growth.

Even though its strategy is confidential, it’s important for an organization of Exelon’s size to have key themes and elements on its website to foster clear communication and transparency throughout the organization.

Highlighting the best components of these public, private, and electric cooperative examples can help you refine the strategic plan for your own utility company. That being said, this is only the first step—you won’t get any value out of your plan unless you take the time to manage and execute it.

ClearPoint Strategy's strategy reporting software can be the perfect resource to track your key goals, KPIs, and projects, ensuring you have the resources and the information you need to achieve your strategy.

Schedule a free demo of the platform with one of our strategy experts here.