NewGen facilitated the development of Lakeland Electric's Strategic Resource Plan (SRP) and related Sustainability and Technology Roadmap to address the increasing pace of technological, workforce, renewable, distrusted generation, regulatory and smart grid advancements in the market. The SRP process provides a path to achieving Lakeland's goals, facilitate decision making, and manage resource related decisions for the next decade.
Advancements and developments in technology, renewable energy, distributed generation, regulations, smart grid, electric vehicles, and utility programs are all beginning to converge and drive significant change in utilities, interaction with the grid, and consumer consumption. To address these issues at Lakeland Electric, NewGen facilitated the development of the SRP to navigate these market demands, remain competitive, and assure a forward-looking enterprise aligned with Lakeland Electric’s and the community’s goals.
The SRP included the development of a Sustainability and Technology Roadmap to provide a path for Lakeland Electric to achieve the desired conventional and virtual resource related goals for the next 10 years as well as a tool to facilitate decision making and manage key sustainability and resource related changes. The Roadmap development was directly supported by a comprehensive stakeholder engagement plan including an internal SRP Team, external Advisory Panel, staff interviews and internal survey.
After completing the Roadmap, additional analytical tasks included collaborating with Lakeland Electric to perform additional power supply and resource planning evaluations and scenario analyses. The output of the resource planning analyses were then integrated with a financial forecast model to further evaluate the related financial, environmental, and labor related impacts. The financial model and scenario results were used to facilitate the resource planning decisions and communicate the related scenario results and impacts to senior management and stakeholders. In its completed form, the SRP provides guidance for resource related capital investments, facilitates Lakeland Electric’s and customer (e.g. virtual) resource related decisions, and includes a triple bottom line (i.e. economic, environmental, and social) reporting framework for communicating utility performance.