Improvements in the management of asset health

The electricity industry has undergone significant change since privatisation in the 1990s. Most recently the industry regulator Ofgem has introduced the new Revenue = Incentives + Innovation + Outputs (RIIO) regulatory regime. Under RIIO a key part of managing safety and reliability is health indices (HIs) and criticality indices (CIs). The combination of health and criticality will present asset managers with the insight required to improve the management of asset risk. This paper explores these developments sharing the experiences and learning gained in working with the new regime to develop an 8 year £3 billion investment plan.