Strategic Asset Management allows Tacoma Power to adapt to a changing environment with significant challenges while ensuring we're delivering exceptional value to our customers.

Strategic Asset Management

Changing Environment/ Significant Challenges

Exceptional Value

How this is different from past efforts

Who is Tacoma Power

Manage expenses to minimize rate increases

Why this approach

Increasing costs

Declining
retail load

Decreasing wholesale revenue

Loss of expertise/ institutional knowledge

Half of workforce eligible to retire in next 5-7 years

Highly competitive job market

Labor

Taxes and assessments

Conservation

Lagging economic recovery

Record low market prices

Hydrology

Regulatory

Service territory

Governance model

Customer demographics

Balance reliability, risk & cost

Data-driven decisions

Ensure continuity of knowledge/ Make sure we have the skills and information to be successful

We've been working on asset management in a silo approach since 2008