Professional Services
Professional Services Firm
Full Credential Description
After experiencing a series of severe wildfires, a large utility company faced an overwhelming estimated $30 billion in liabilities, alongside mandated investments in system hardening, inspections, repairs, and vegetation management. Despite being a national leader in renewable energy, the company was hindered by noncompetitive supply contracts and cost-ineffective union arrangements.
we was engaged to assist the utility company through its Chapter 11 proceedings, employing an integrated approach to transform its operations. The team evaluated third-party purchase contracts and developed an internal reorganization plan, which included a comprehensive cost reduction strategy aimed at decreasing capital and operating expenses by $1.5 billion annually. An interim specialist from we took on the role of chief restructuring officer, focusing on preserving shareholder equity while spearheading the cost-reduction initiatives.
As a result of these efforts, the utility company achieved a streamlined operational model that allowed for improved oversight and strategic capital allocation, ultimately enhancing the company's value. In the long term, the company is projected to restore trust and realize ongoing savings of approximately $7 billion through 2025.