Automation of asset risk framework

A risk-based approach to asset management.

EPCOR Distribution and Transmission Inc. (EPCOR) wanted to get a plan in place that would help them better understand their power asset health that would help make the most prudent decisions for their business and its customers. They needed a required risk-based approach to asset investment and outcome forecasting that would lead to repeatable, consistent, and auditable results.  ENGINTM would provide a new approach to satisfy their needs and achieve a 95% time reduction for data preparation and analysis.

Factoring in an asset’s condition and age, historical failure patterns and weather events, ENGINTMcalculated the expected lifetimes of EPCOR’s assets and made predictions about when they might fail. Asset risk was analyzed by understanding how the assets fail, based on the unique operating conditions within the electric system and its surrounding environment. ENGINTM also completed long-term capital investment forecasts, both CAPEX and OPEX.

Ultimately, we provided EPCOR measurable and repeatable results using science-based data. EPCOR now has access to almost immediate feedback on their forecasts empowering their leadership to make better investment decisions, improve grid reliability and reduce the safety risks for staff and customers, all while optimizing costs.

As we continue to support EPCOR, they have progressed to studying more complex investment decisions, such as integrating traditional asset management with system planning. This is helping EPCOR better understand how risk exposure is impacted with transmission vs distribution solutions, and which is best for ratepayers.

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