The Platts organization recently announced the selection of energy companies from 25 countries as finalists for the Platts Global Energy Awards. In their eighteenth year, the awards are considered the Academy Awards of the energy industry and highlight corporate and individual innovation, leadership and superior performance. This year’s finalists were chosen from over 170 nominations from 30 countries.
The reason the Platts Awards are considered so prestigious is because of the way they are judged. Many awards competitions are judged internal to the sponsoring organization, but Platts Global Energy award winners are selected by an independent panel of judges. These judges are a virtual Who’s Who of the energy industry, including utility and corporate executives, investors, board directors, strategic consultants, and regulators.
This independent panel evaluates the finalists based on specific criteria for each category being judged, taking into consideration, where appropriate, company profiles and financial performance in the designated time-frame. Neither Platts nor its sponsors submit a vote or select the winners.
What Makes a Finalist?
Looking at the criteria used to judge the awards provides some insight into what makes becoming a finalist so special.
This year, for example, Allan Connolly, president and CEO of Aclara, is competing for CEO of the Year honors. According to Platts, finalists for CEO of the Year are selected based on clarity of vision, judgment and motivational skills that transform and empower organizations. Platts goes on to characterize winners as leaders who are highly respected by both peers and competitors, admired and followed by employees, trusted by investors and welcomed by the community.
Platts also judges on courage, perseverance, dedication, ethics and the ability to bring about real change for the better at a company level, in the industry as a whole and in the lives of employees.
“It is an honor to be selected as a finalist in three major categories by the Platts judges. This recognition is an important milestone for Aclara, and a strong indicator that the energy industry recognizes the importance of our innovative smart infrastructure solutions to electric and natural gas utilities around the world.”- Allan Connolly, CEO
In Mr. Connolly’s case, the awards nomination highlighted a number of his accomplishments, which resulted in Mr. Connolly radically improving bottom line profits and taking the company to a new level in just two years.
Finalist in two additional categories
Aclara also was named a finalist in the Rising Star Company and Strategic Deal of the Year awards.
- The Rising Star Company award recognizes the achievements of businesses that have moved into a brand new field. Aclara’s growth as a company, as well as its innovative product development, qualified it for consideration in the Rising Star Award−Company category. Aclara’s venture into smart infrastructure solutions, as personified by its acquisition of the leading smart grid sensor technology in the industry, is an example.
- The category for Strategic Deal, according to Platts, recognizes energy companies for the successful closure of a new energy project, asset buyout or full company merger or acquisition in an era of uncertain markets and interdependence. Judges want to understand the overall strategic significance and impact of each submitted transaction, and this detail must be reflected in the awards nomination. Aclara submitted its acquisition of smart electric meters from GE Meters in this category.
“Our recent acquisitions, coupled with our own developments, are helping utilities address challenges and open the door to new opportunities in the distribution grid. As we look to the future we are looking forward to serving our utility customers effectively for many years to come.” – Allan Connolly, CEO