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Showcasing Product Innovation in a Digital World with Epoxy Modified Mortar

December 7, 2020By adminCoatings, Induron, Induron Values No Comments

Induron’s business is built on family and culture. Which is to say, a business built on relationships. It is who we are. Simon Sinek’s now-famous TED talk encourages us to “start with why” in building our businesses and our lives. Strategy can tell us what we are going to do and how we want to … Read More

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  • A No Nonsense Tale of the Edina, Missouri Tank Rehabilitation
  • Innovative Strategies to Combat Corrosion and Extend the Life Cycle of T&D Assets
  • Caldwell Preload Spirit Foundation Fundraiser: Making an Impact, One Swing at a Time
  • Stepping up to the Plate with Novasafe Ceramic Novalac Epoxy
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While fixing foundations maintains what’s already there, applying Induraguard 9200 is like adding a fresh layer. It’s a new addition. The process needs to be done on a larger scale, so it’s important enough to be closely looked at by the Public Utilities Commission (PUC). With the huge U.S. electrical grid that can rust over time, the importance is clear. When this helps a structure stay useful for much longer and costs much less than getting a new one, it’s a real benefit for ratepayers.

“Why should the ratepayer or the environment be asked to bear the cost of a new tower when coatings can be used to keep the one we already have operating indefinitely at a much lower cost?”

In PG&E’s success rate case proposal, FERC highlighted that comparable accommodations have been extended to prominent utilities such as Georgia Power and Southern California Edison. This ruling established a much-needed precedent and framework for other utilities to make the case that they have a responsible coatings program. Such programs can significantly enhance existing structures and potentially extend their operational lifespan by two decades or beyond.

FERC (Federal Energy Regulatory Commission) Update Enables Capitalization of T&D Coatings Initiatives

Formerly, utility companies could include replacement costs for transmission towers and poles in their capitalization, but corrosion control for these assets was excluded. A groundbreaking shift introduced by the Federal Energy Regulatory Commission now allows utility providers to categorize corrosion control programs (coating programs) for transmission structures as a “significant addition,” thereby enabling them to capitalize these expenses for accounting purposes. This alteration is poised to significantly impact the condition of the nation’s aging electric utility infrastructure.

On February 22, 2022, the Federal Energy Regulatory Commission (FERC) approved a utility company’s proposal to classify their tower coating programs as “substantial additions.” The order (1) clarifies, “The Commission has previously permitted utilities to consider the addition of minor property items that were previously absent as substantial additions and to capitalize the related costs when such costs extend the useful life, operational capacity, or efficiency of the associated retirement units.” Utility companies are now authorized to capitalize on the costs linked with corrosion control. This change aligns with generally accepted accounting principles (GAAP) and offers various financial advantages, including a more balanced assets-to-liabilities ratio and reduced income fluctuations.

In numerous instances, corrosion control solutions such as coatings have been repeatedly applied to structures, demonstrating anticipated performance and proven outcomes. Corrosion control coating programs, such as Induraguard 9200, possess the capacity to effectively prolong the service life of structures indefinitely.