By Satish Saini, HEXstream utility industry specialist 

As we explored in previous features, utilities need effective asset-management strategies, programs and performance insights with relevant analytics in response to:

• Aging T&D grid infrastructure leading to frequent and untimely equipment failures
• Climate change causing adverse weather events and undermining power-infrastructure reliability
• Increasing customer demand for reliable power
• Utilities’ needs for sustainable, efficient and cost-effective business operations
• Regulatory pressure to maintain operational and safety standards
• Renewable-energy sources penetration to the T&D grid

A key component in developing these smarter asset-management strategies is asset performance insights (API), which involves unique methodology and metrics using AI/ML algorithms paired with deep utility operational and functional expertise to monitor and evaluate the overall health/risk index for various critical grid assets and equipment. API optimizes equipment operation and condition-based maintenance, improving reliability and lifecycles while reducing maintenance costs.

The benefits 

Effective asset-management plans and automated performance insights using AI/ML algorithms to generate API can help:

• Defer replacement and upgrade costs through predictive analysis regarding assets’ health condition
• Enable critical condition-based monitoring to avoid major failures
• Reduce costs for maintenance of critical and expensive assets such as transformers and circuit-breakers
• Maximize the lifecycle of assets

Key components and processes

API uses digital-transformation tactics and real-time monitoring of assets, extracting and analyzing historical, operational and performance data from multiple sources and platforms for data-driven analytics and decision-making metrics/KPIs.

This methodology enables the creation of notifications regarding asset health/wellness, and a risk index based on a defined scoring pattern. 

HEXstream is developing an API analytics tool with key indicators on various metrics for major assets across the T&D grid. In Phase 1 of this project, our focus is on power transformers installed at transmission and distribution stations.

In future phases, we will include other assets like circuit-breakers, reclosers, etc. We will explore major indicators, sub-indicators and metrics along with different layers of information for calculating the risk/wellness index for effective utility-asset management.

WANT MORE? CLICK HERE TO CONTACT US TO LEARN HOW API CAN HELP YOUR UTILITY MANAGE CRITICAL ASSETS.