I don't think I could make the journey back to a canned product now that I've seen what is possible. FRST is the most powerful financial planning tool I've ever seen.
—Corporate Financial Advisor

Financial Advisory

MCR specializes in finance, strategy and risk management for the electric, natural gas and water utility business. Our clients are IOUs, G&T cooperatives, municipals and joint action agencies that are committed to developing better strategies and making astute financial decisions.

Clients hire us because we are able to apply analytic discipline and tools across a wide array of industry issues.  We help our clients set strategic direction and allocate capital. Our deep industry insights help us understand and implement the financial systems and technologies that make our utility clients improve their performance.

FRST Logo We offer FRSTTM, the only utility specific, Excel-based, financial planning model that incorporates risk analysis. Read more about MCR’s Financial Risk & Strategy Tool.

Key Staff

Dave Thompson, Vice President

Dave is a Vice President of Financial Advisory at MCR. With over 20 years of management consulting experience to utilities, Dave has developed significant expertise in crafting innovative business solutions and sophisticated analytics in connection with strategic planning, risk management and financial planning initiatives. Dave played a key role in developing MCR’s Financial Risk and Strategy Tool, which has been implemented at electric, gas and water utility IOUs, G&Ts and municipals.


Dan Rupp, Manager

With over 20 years of industry and consulting experience, Dan is a Manager at MCR. Dan transforms client financial forecasting capabilities by implementing MCR’s Financial Risk and Strategy Tool and other sophisticated modeling applications. He helps provide management with insights on the impacts of alternative short- and long-term strategies and changing business and market conditions. A recognized industry expert in the area of financial and economic modeling, Dan has worked with numerous energy companies in over 30 engagements, including IOU’s, G&T’s and municipalities.


Mike Murphy, Vice President

Mike has over two decades of experience in the development and implementation of business management software, data warehousing and document management applications. As a Vice President at MCR, he designs, develops and deploys data warehouse and reporting solutions, using MCR technology and client-specified tools and technology. Mike has deep expertise in working with and implementing information systems for nuclear generation plants, including equipment reliability, system health management, work management, long range planning, budgeting and reporting.


What we Do Learn morearrow

  • Financial forecasting
  • Enterprise risk management
  • Strategic planning
  • Capital allocation
  • Financial processes and systems

Client Stories

Improving an investor owned utility’s financial planning and risk analysis capabilities with FRST

A mid-sized investor-owned utility was using an inefficient, “black box” planning model to develop their financial forecasts. The company wanted to dramatically improve the flexibility of the financial forecasting process and efficiency of generating new forecasts. To achieve these goals, the company selected MCR to implement the FRSTTM financial planning model.

Enabling Georgia Transmission Corporation to develop better long range plans and forecast short-term liquidity with FRST

Georgia Transmission Corporation was using a long-range financial planning tool that was difficult to maintain and presented significant challenges when a new calculation or a change in the business structure required model changes. In addition, the company wanted to improve their ability to test various scenarios, financing alternatives and gain better insight to near-term liquidity. MCR was hired to implement a rapid FRSTTM deployment.

Helping Southern Minnesota Municipal Power Agency improve financial planning processes and better manage funding and reserves using FRST

Southern Minnesota Municipal Association (SMMPA) was using an outdated, database oriented financial planning tool to develop its long-range financial plans and rate forecasts. With the goal of fixing planning issues and improving their ability to quickly create and analyze asset and financing scenarios, SMMPA asked MCR for help.

Supporting a diversified energy company’s risk management program by identifying and quantifying risks across their portfolio of businesses

A large energy firm owns and operates a diverse portfolio of companies that include regulated utilities, an energy services company, natural gas storage facilities, and an energy trading and marketing unit. These companies have a diverse set of risks which need to be monitored and assessed as market conditions and market dynamics change.

Helping Wabash Valley Power Association implement an enterprise risk management program to better understand, communicate and manage business risk

Wabash Valley Power Cooperative (WVPA) wanted to take a more integrated approach to risk management. WVPA’s senior management team asked MCR, in combination with ACES Power Marketing, to assist in implementing an Enterprise Risk Management (ERM) program.

Saving an investor owned utility millions by utilizing capital management to develop an optimal environmental compliance plan for its coal generating assets

An Investor Owned Utility (IOU) in the South with multiple coal units encountered NOx and mercury compliance issues in meeting the Clean Air Interstate Rule/Cross State Air Pollution Rule and the SO2 limits and MACT Rule. The company knew they wanted to determine the best alternative for meeting the compliance requirements while considering both costs and risks and engaged MCR to assist in developing an optimal plan.

Enabling a G&T utility to save millions and maintain its credit rating with an optimal environmental capital plan for its large coal units

A generation and transmission cooperative (G&T) in the Midwest was threatened with a reduction of their credit rating due to declining liquidity and deteriorating financial ratios. With a senior management mandate to develop lower-cost environmental compliance solutions in the face of capital constraints and projected rising member rates the G&T asked MCR for advice.

Helping an investor owned utility develop strategies to address the opportunities and threats of distributed generation

MCR’s client faced a rapidly changing market environment driven by the emergence of distributed generation (DG) technology. MCR worked with our client to define four alternative future scenarios for their electric market.

Financial processes and systems: Custom power billing for Buckeye Power

We worked with our client to develop an assessment of its current monthly billing, data, and analysis processes and supporting systems. The report included a defined roadmap for creating a billing system to address the objectives and issues related to wholesale power billing.

Financial processes and systems: Integrating capitalization policies and units of property for a large utility merger

Upon completing its merger with another utility, our client needed to integrate its capitalization policies and unit of property (UoP) catalogues for its expanded generation fleet, transmission, distribution and general utility property. The merger presented an opportunity to align capitalization policies, incorporate best practices and resolve previous organizational disputes.

Key Staff

Dave Thompson, Vice President

Dave is a Vice President of Financial Advisory at MCR. With over 20 years of management consulting experience to utilities, Dave has developed significant expertise in crafting innovative business solutions and sophisticated analytics in connection with strategic planning, risk management and financial planning initiatives. Dave played a key role in developing MCR’s Financial Risk and Strategy Tool, which has been implemented at electric, gas and water utility IOUs, G&Ts and municipals.


Dan Rupp, Manager

With over 20 years of industry and consulting experience, Dan is a Manager at MCR. Dan transforms client financial forecasting capabilities by implementing MCR’s Financial Risk and Strategy Tool and other sophisticated modeling applications. He helps provide management with insights on the impacts of alternative short- and long-term strategies and changing business and market conditions. A recognized industry expert in the area of financial and economic modeling, Dan has worked with numerous energy companies in over 30 engagements, including IOU’s, G&T’s and municipalities.


Mike Murphy, Vice President

Mike has over two decades of experience in the development and implementation of business management software, data warehousing and document management applications. As a Vice President at MCR, he designs, develops and deploys data warehouse and reporting solutions, using MCR technology and client-specified tools and technology. Mike has deep expertise in working with and implementing information systems for nuclear generation plants, including equipment reliability, system health management, work management, long range planning, budgeting and reporting.