Case Study
Optimized Asset Health Program
How Ofgem's Network Asset Indices Methodology measures asset health, criticality and monetised risk, and how it supports an optimised asset health programme.
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The UK Electric Regulator “OFGEM” has mandated a formal method for determining asset health and criticality.
The Network Asset Indices Methodology is to provide a comparative
analysis of performance between Distribution Network Operators covering:
– Probability of Asset Failure
– Consequence of Asset Failures
– Asset Risk
– Current and Future Asset Degradation
– Monetized Asset Risk
– With and without Interventions (Replacement and Refurbishment Activities)
This paper describes this methodology so that the reader can apply its third party validated techniques to their own asset health system.
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