How Powerco and TNB are building defensible, value based capital plans
Transmission and distribution utilities are being asked to deliver more than ever before. Reliability must improve. Infrastructure must support energy transition. Capital must be tightly controlled. And every investment decision must stand up to increasing regulatory and stakeholder scrutiny.
What has changed is not just the scale of investment, but the expectation of proof.
Today, regulators and executive teams expect utilities to clearly demonstrate where capital is being invested, why it is needed now, and what outcomes it will deliver over time. For many organizations, traditional planning approaches built on spreadsheets and siloed analysis are no longer sufficient.
Two organizations navigating this shift are Powerco in New Zealand and Tenaga Nasional Berhad(TNB) in Malaysia. In a recent webinar, both shared how they are evolving asset investment planning to support more transparent, consistent, and defensible capital decisions.
When regulatory expectations change, planning must change too
For TNB, the turning point came when regulatory requirements expanded beyond just the largest capital projects. As expectations increased, leadership recognized that manual, spreadsheet based approaches could not scale with the growing volume and complexity of investments.
As Ezatul Farita binti Mohd Rosdi, Manager of Asset Investment Planning at Tenaga Nasional Berhad, explained:
The regulator asked us to justify value for every investment that we propose. Using Excel templates was no longer practical when the number of projects and the level of scrutiny increased.
Without a common value framework, comparing different types of investments fairly and responding quickly to regulatory feedback became increasingly difficult. Portfolio level visibility was also limited, making it challenging to re prioritize when higher priority projects emerged mid cycle.
By shifting to a value based investment planning approach, TNB was able to improve consistency, strengthen justification, and engage regulators with greater confidence, even under strict capital constraints.
Progress does not require perfect data
A common barrier to transformation is the belief that planning maturity must wait for perfect data. Powerco’s experience shows the opposite.
Operating one of New Zealand’s largest and most geographically diverse electricity networks, Powerco faced data gaps typical of long lived infrastructure assets. Rather than delaying progress, the organization focused on transparency and discipline.
Anthony Conning, Investment Optimization Manager at Powerco, shared a pragmatic mindset:
We became comfortable with imperfect data by clearly stating our assumptions and improving iteratively. It was more important to move forward transparently than to wait for perfect information.
By embedding asset models and documenting assumptions, Powerco created repeatable investment cases that could be understood and challenged by a broader group of stakeholders. This helped move planning conversations away from isolated technical analysis toward shared understanding and informed trade off discussions.
From single plans to informed options
Both organizations highlighted a broader shift in how capital planning is evolving. The future is not about producing a single optimized plan, but about giving leadership clear options.
As energy transition accelerates and affordability remains under pressure, executives and regulators increasingly want to understand the implications of different paths. What happens if investment is deferred. What risks increase. What outcomes are improved or compromised.
Scenario based, value driven planning enables these conversations by making trade offs explicit and defensible. It also supports longer term thinking, helping organizations align short term decisions with long term resilience, sustainability, and regulatory expectations.
Watch the on demand webinar
If you are responsible for capital strategy, asset investment planning, regulatory engagement, or enterprise transformation, this session provides real world insight into how utilities are modernizing planning under real constraints.
You will hear directly from Powerco and Tenaga Nasional Berhad on what worked, what changed, and how they are preparing for the next phase of capital planning.
Take the next step
▶ Watch the on demand webinar
See the full discussion with Powerco and Tenaga Nasional Berhad and hear directly from utility leaders on how they are transforming capital decision making.
▶ Book a demo with IFS Copperleaf
Explore how IFS Copperleaf helps utilities create transparent, defensible, value based capital plans aligned to strategy, regulatory expectations, and long term outcomes.