Benefits of reliability centred asset management

This paper provides an overview of risk and reliability assessment techniques, some which are available for distribution system operators, and others that are in the process of development. The main contribution of this paper is showing the possibilities and benefits of detailed risk and reliability analysis. Six samples of findings from research developed over the last decade within the RCAM group (Reliability Centred Asset Management) at the Royal Institute of Technology, Stockholm Sweden, are presented. The research is directly associated with risk and asset management applied to power systems. The first three examples are within developed research, followed by three areas where great potential is seen: 1) The value of accurate thermal models of transformers; 2) The impact of tariff regulation on asset management decisions; 3) Detailed interruption studies; 4) Dynamic rating; 5) Combined risk and reliability analysis of primary equipment and control equipment; 6) Systematic diagnostic measures for asset management.