Utility Budgeting & Accruals
Budgeting for energy costs is crucial to long-range budget forecasts, but can you account for the volatility of the market and the effect it may have on your financials? Ecova has the tools to significantly enhance the accuracy of your energy financials, as well as provide logical, data-driven explanations for deviations from your budget. Our suite of solutions consists of Budget Preparation, Forecasts, Accruals and Variance Analysis. With our detailed data capture, and our expansive market intelligence, Ecova is well positioned to provide our clients with customized budgets and accrual files.
Our budget development process leverages our data warehouse, your billing history, and our knowledge of planned rate changes. The result is an annual and monthly electric and/or gas service budget for usage and spend that can include your reporting structure such as regions and/or divisions. Included in the budget report is a variance report that shows actuals against budget. We can also compile a monthly variance analysis, which can be provided to highlight and explain what caused deviations. Budget variances can be caused by utility billing cycles/missing bills; pricing changes; unusual energy consumption or trends; and site additions, closes or changes.
Our Budgets & Accruals solution will help your company:
Accurately track how your facilities are managing energy, water and sewer costs versus budget.
Avoid overspending on utility costs by enhancing the accuracy of your energy financials.
Create more accurate budget and accrual forecasts with tools and expertise to account for anticipated fluctuations.