Asset Management - Cables & Lines

Asset Management

Asset management is crucial for utilities but is a considerable investment and operating cost; however, if managed with an efficient process can increase utility savings.

The Utility Problem

Asset management focuses on the maintenance, rehabilitation, and replacement of infrastructure to extend the service life and improve the quality of existing infrastructure. It also ensures that the subsequent risk of failure is minimized.

Previously (without data analysis), decisions about asset management activities were primarily based on the age of the asset alone. However, this view is minimal and does not consider the asset’s actual condition. Some older assets can be in great shape due to their manufacturing quality and factors of their location, i.e. environmental conditions and influences. 

Asset management is crucial for utilities but is a considerable investment and operating cost; however, if managed with an efficient process can increase utility savings. By taking a more detailed view of each asset or group, it is possible to extend their life and save on the significant investment costs of installing new assets. Also, asset management promotes greater customer satisfaction with the reduction of outages with accurate insight into asset health.

Many utilities need help to efficiently address Asset Management as it is a complex issue requiring data from different company systems. However, the complexity of this critical electricity distribution topic should not divert attention.

 

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