Electric utility companies today are juggling some very difficult and unprecedented challenges. With climate change and post-pandemic vibes intensifying capital costs and infrastructure degradation, network sustainability is on the forefront of everyone’s minds. Furthermore, the push towards renewable energy generation, decentralized generation, energy storage, and electrification of transport, all point toward major transformations that will result in regulatory changes for decades to come. To thrive, utilities of the future need to be agile, connected, collaborative, and responsible. Transparency, which enables accountability and auditability, remains paramount.
Especially with unpredictability being the only constant, our customer proactively anticipates and adapts with agility when trying to strike the ideal risk/cost/performance balance ratio for infrastructure resilience and sustainability. The company adopted an asset-centric approach to asset management, which considers the entire life cycle of each component of its extensive asset portfolio. It also addresses future strategic network requirements and desired LOS.
The DIREXYON Suite AIP solution automates the pulling of data from disparate systems, consolidating an extended asset registry of all relevant characteristics and conditions. Asset hierarchies are built to account for cross-asset interdependencies and functional analysis. Degradation models, leveraging a stochastic approach, are built for each asset type along with a risk/consequence-of-failure matrix. This enables our customers to model asset interrelationships, while integrating risk models, asset degradation models, and custom KPIs for each asset category and network segment. DIREXYON Suite AIP continually balances optimized levels of assumed risk and resource constraints/investments.
DIREXYON Suite AIP fuels digitalization of asset management knowledge and associated decision policies. It leverages user-friendly, drag & drop decision trees in large simulations or in complex, daily decision-making.