Brent Ridge, a speaker at the marcus evans Energy CFO Summit 2013, on the importance of setting decision-making processes to better manage risk. Interview with: Brent Ridge, Chief Financial and Risk Officer, Energy Northwest

1. The Energy CFO’s Guide to
Robust Risk Management
It is extremely important from an project level risks can be identified and
electric and utility perspective that safe, mitigated. If this is not done correctly,
reliable operations be balanced with the projects could be unsuccessful and
cost-cutting strategies. In order to the reputation of the shareholders
achieve this, cost-cutting must be done involved impacted.
in a slow and measured way.
What opportunities should energy
Patience is a virtue when it comes to CFOs prepare for in the future?
cost reduction. Being patient and
looking for long-term sustainable The drive for capital investment is most
savings, not just immediate gains. probably going to continue into the next
two decades, so attention in this area
What risk management strategies must be held.
Interview with: Brent Ridge, Chief can you suggest in this volatile
Financial and Risk Officer, Energy environment? The industry as a whole should question
Northwest where the next energy resource will
Standardized decision-making frame- come from. In the US, natural gas and
works should be developed, so that new nuclear resources seem to be the
Energy Chief Financial Officers issues related to risk can be consistently primary candidates.
(CFOs) should design and develop approached. In this way, the problems
standardized decision-making do not become about the people
frameworks to maintain a consistent involved. The most important risk
approach to managing risk, says Brent management strategy is driving
Ridge, Chief Financial and Risk Officer, judgment down the organization and
Energy Northwest. “The most important
risk management strategy is driving
not driving decisions up. Individuals at
the management and supervisory levels
Cost-cutting
judgments down the organization and
not driving decisions up,” he goes on to
should be educated on decision-making,
so they can exercise proper judgment. must be
say.
In terms of regulatory uncertainty, done in a
A speaker at the upcoming marcus energy CFOs can work with the front
evans Energy CFO Summit 2013, in
Dallas, Texas, February 25-26, Ridge
line employees in order to understand
their challenges and help manage risk.
slow and
discusses why robust project risk
management processes can protect
Efforts should also be made to directly
communicate with the regulators, to
measured
shareholders’ value and solve the issue
of aging infrastructure.
get a feel for upcoming regulations.
Processes can be put in place and risk way
mitigated.
With the increase of power rates,
how can energy companies cut How can shareholder value be
some of their costs? protected? Currently a large amount of renewable
resources need to be backed up by base
Customers demand reasonable utility The solution to the current problem of line resources. The fundamental
bills from a perspective of what they aging infrastructure is generally large question here is going to be whether
have paid in the past, and this places capital projects. In this light, robust natural gas will be accepted in regions
cost pressures on energy utilities due project risk management processes that are high cost, clean energy
to increasing power rates. should be adequately identified so providers.

2. About the Energy CFO Summit 2013
The Finance Network - marcus
evans Summits group delivers This unique forum will take place at the Hotel Intercontinental, Dallas, Texas,
peer-to-peer information on February 25-26, 2013. Offering much more than any conference, exhibition or trade
strategic matters, professional show, this exclusive meeting will bring together esteemed industry thought leaders
trends and breakthrough and solution providers to a highly focused and interactive networking event. The
innovations. Summit includes presentations on cost reduction mechanisms, risk management
and the impact of new energy legislation.
www.energycfosummit.com
Contact
Please note that the Summit is a
Maria Gregoriou, Journalist, marcus evans, Summits Division
closed business event and the
number of participants strictly Tel: + 357 22 849 400
limited. Email: press@marcusevanscy.com
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To view the web version of this interview, please click here: www.energycfosummit.com/BrentRidge