Asset performance management (APM)

Asset performance management (APM) and asset health index (AHI) monitoring have proven their efficacy in the utility sector

APM and AHI have proven to be effective tools for utilities to manage their assets and improve their overall performance and reliability. As a result, they have become increasingly popular among utilities of all sizes and are expected to continue to grow in popularity in the coming years.

Asset performance management (APM) and asset health index (AHI) have demonstrated their efficacy in the utility sector and have become increasingly popular tools for utilities to improve the reliability, safety, and performance of their assets. 

Several studies and case studies have demonstrated the benefits of APM and AHI in the utility sector. For example, a case study conducted by Siemens Energy found that implementing an APM system for gas turbines at a power plant led to a 3% improvement in efficiency, a 25% reduction in forced outages, and a 30% reduction in maintenance costs. 

Another study conducted by the Electric Power Research Institute (EPRI) demonstrated the effectiveness of implementing an asset management program for substation equipment and provided a compelling business case for utilities to invest in these programs to improve the reliability and performance of their assets. The study was conducted in collaboration with several utility companies in the United States, including American Electric Power, Southern California Edison, and Pacific Gas & Electric, and included the use of advanced monitoring technologies, such as sensors and analytics tools, to monitor the health and performance of the equipment. ["Asset Management for Substation Equipment: A Comprehensive Business Case.", EPRI 2015] 

The study found that implementing an asset management program for substation equipment resulted in several key benefits, including: 

  • 22% reduction in unplanned outages 
  • 21% reduction in maintenance costs 
  • 19% reduction in capital expenditures 
  • 16% improvement in asset reliability 
  • 13% improvement in customer satisfaction 

The study also found that implementing an asset management program required an initial investment, but that the long-term benefits outweighed the costs, resulting in a positive return on investment (ROI) for the utility companies that participated in the study. 

APM and AHI have proven to be effective tools for utilities to manage their assets and improve their overall performance and reliability. As a result, they have become increasingly popular among utilities of all sizes and are expected to continue to grow in popularity in the coming years.