Risk assessment as an integrated part of distribution system reinvestment analysis

Maintenance and reinvestment decisions are important parts of distribution system asset management, as means to control risk. Distribution companies are hence increasingly recognising risk assessment as an important tool in this context. This paper proposes a framework where risk assessment is systematically applied when evaluating potential replacement or refurbishment of existing installations or sub-systems. It further describes the use of this framework and how it can support the distribution company work flow. Practical use is illustrated through a case study showing the application of a risk based check-list for reinvestment analysis of MV/LV substations.