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2023 Business Plan and Budget
4/28/2022

Dear Members and Registered Entities:

On April 28, 2022, the Board of Directors approved the ReliabilityFirst Corporation's 2023 Business Plan and Budget, Draft, Version 1, for publication for 30 day industry comment and release to NERC.

Annually, the Regions are required to develop their Business Plan and Budget (BP&B) for the following year to provide adequate time for the Regional Boards, the NERC Board, and FERC to each approve the documents in succession. NERC and the Regions developed a set of strategic and operating objectives in order to develop their individual BP&B with a common foundation. These strategic and operating objectives are set forth in the ERO Enterprise Long Term Strategy. Any unique objectives that apply only to ReliabilityFirst are expressly noted in the BP&B. In developing the 2023 BP&B, management considered the common assumptions, conducted manpower analyses, considered efficiency gains attributable to new processes and maturing systems, and examined projected future workloads.

Highlights of the proposed 2023 BP&B (compared to the 2022 BP&B) are as follows:

  • An overall increase in the budget of 6.7% or $1,755,493
  • An increase in total personnel expenses of 5.2% or $1,165,673
  • A increase in operating and fixed asset expenses of 15% or $589,820
  • The addition of 2 FTEs
  • An overall increase in assessments to Load Serving Entities of 5% or $1,078,724
  • Operating Reserve of $1,000,000, consistent with 2022 level

Please review the 2023 BP&B and provide any comments to Carol Baskey.