Energy & Utility Industry Compliance Solutions

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MetricStream offers industry’s most advanced and comprehensive suite of solutions that empowers the organization for effective risk management and efficient compliance processes. MetricStream’s solutions assist energy & utility firms in a number of critical areas.

Case Study Powering Compliance at an Energy Major   Press Releases Power Systems Company Selects MetricStream for SOX Compliance

NERC Critical Infrastructure Protection (CIP): Energy Policy Act (EP Act) of 2005 empowers NERC as the national Electric Reliability Organization (ERO) to establish and enforce cyber security and reliability standards applicable to bulk power systems. MetricStream offers an integrated solution that ensures compliance with NERC CIP 002-009 (Critical Infrastructure Protection) standards while lowering the associated costs that can otherwise be substantial. The solution has ability to track process ownership, assessment plans and remediation status on graphical charts with real-time information. The solution provides powerful role-based dashboards, control diagrams and scorecards to ensure visibility into the ongoing compliance efforts and bring high-risk areas into focus.

Related Solutions NERC Compliance FERC Compliance Enterprise Risk Management   Operational Risk Management Internal Audits   IT Audits SOx Compliance   Financial Controls Management Corporate Policy Compliance   Stock Options Grants more ...

Reliability Assessment: As the ERO, NERC conducts frequent reliability assessment for bulk power system. MetricStream provides comprehensive solutions to assist in NERC reliability assessment process with capabilities to analyze disturbances and record exceptions, which can be tracked to closure. The solution also facilitates information exchange and coordination between regulatory bodied (FERC, NERC, etc.), board, management and other stakeholders. The solution provides a comprehensive framework for training and security awareness based on programs developed by a community of industry experts available from within the solution.

FERC Compliance: Energy companies are faced with a proliferation of compliance requirements from FERC (Federal Energy Regulation Commission) that impose stringent regulatory oversight and reporting requirements. MetricStream provides a common framework and an integrated approach to manage complex regulatory mandates from FERC and as well as other state and regional public service commissions. The MetricStream solution supports implementing critical governance initiatives such as programs for Standards of Conduct and EH&S through document control, compliance training, ongoing auditing, as well as recording and reporting of FERC-related violations or process nonconformance and the resulting corrective actions. The solution provides enhanced policy management capability with the ability to monitor compliance and controls processes across the enterprise, rectifying deviations, errors and redundant activities.

Enterprise Risk Management: Operating in a highly sensitive and vulnerable operating environment, energy companies are today are gearing-up to increase risk-adjusted returns, improve strategic judgment, and avoid extraordinary losses due to lawsuits, fines, operational failures or negligence. The MetricStream solution provides strategies, methodologies and risk reporting capabilities to identify, measure, monitor, control and mitigate risks leading to effective risk management. The solution ensures that the organization’s risks and controls are well documented, appropriately assessed and remedial actions tracked to closure. Moreover, it provides the capability to ensure that standardized risk management practices are embedded across the entire value chain.

Emission Management: The energy sector accounts for approximately 60% of the global GHG emissions. Energy companies are seeking to adopt a formal, enterprise-wide approach that can unify emission management across their operations and enable sustainable compliance with federal and international regulations and mandates. The MetricStream solution for emission management enables an organization to manage, measure and report on environmental indicators by implementing an integrated emission management program and streamlining all the underlying business processes. The comprehensive solution serves as a central emission management system to reduce the risk of environmental regulation violations and to provide baseline set of data and information for business and operational planning.

Quality and Safety Management: Many energy companies are increasingly becoming proactive about implementing quality and safety program to maximize high-quality results as well as minimize operational risks as well as legal liability. MetricStream solutions are being widely used for implementing initiatives such as quality assurance programs, streamlining corrective actions (CAPAs), developing electronic document management systems (eDMS), safety and quality audits, incident and investigation management, EH&S compliance and engineering and construction compliance, TQM, ISO 9000 and ISO 14001 management systems as well as recording and reporting of FERC-related violations or process nonconformance.

The MetricStream solution also provides other intelligent and content driven features such access to best practices and training from an expert community from within the solutions and integration of business processes with notifications and industry alerts.