Pace Global

Grid Asset Management Concepts

Utilities around the world face a variety of operational challenges as assets commissioned in the last few decades are nearing the end of their design life. As critical assets such as transformers, switchgear and cables age, utilities are under increasing financial pressure to maintain, refurbish or replace these assets. In addition to increasing maintenance budgets, utilities will also have to carefully manage limited personnel resources and skill sets to meet increasing number of maintenance tasks.

Since most utilities have carried out periodic asset upgrades at different times in the past, the age and performance profiles of their asset fleets show great variation. This means, for most utilities, financial, operational and reliability risks are unevenly distributed across their grids. To compound matters, increasing penetration of distributed generation resources and other smart grid technologies are placing already aging grid assets under increasing operational stresses.

Taken together, this implies that if aging assets, already under increasing operational stresses, are allowed to ‘run-to-failure’, overall system reliability, asset performance and customer satisfaction will be negatively impacted. Therefore, to extend asset life, improve asset utilization efficiency and increase customer satisfaction, utilities need to transform and optimize their asset management strategies.

“Pace Global Energy Business Advisory” understands that these challenges require a renewed focus on utilities’ strategic goals such as:

  • Ensure compliance to regulatory, financial and safety protocols
  • Improve or maintain service reliability
  • Balance lifecycle costs with system performance and risks
  • Optimize resource utilization and work process efficiency

 

Utilities can reach their strategic goals by implementing proactive asset management strategies that are customized to their specific needs. However, planning activities are sometimes hampered by lack of asset forecasting models, lack of available data, or lack of resources that could be devoted to such an effort. In this regard, the information and communications technology (ICT) revolution is a key enabler of sophisticated asset management strategies.

In our understanding, availability of accurate, real-time data allows progressively sophisticated asset management strategies. We offer the following comprehensive services that help our customers choose and design the asset management strategy right for them:

Grid Asset Management Concepts

Pace Global