Energy
Utility Asset Maintenance Comes with Hidden Challenges Companies Can Get Ahead Of
Invisible asset problems are costing utilities more than they realize, but proactive monitoring strategies can close the gap
Key takeaways
Invisible asset degradation is a significant but underrecognized cost driver for utilities.
Proactive monitoring and predictive maintenance strategies can help utilities get ahead of failures.
Closing the gap between known and hidden asset risks requires systematic data collection and analysis.
Putting the world of utility management in focus, the maintenance of infrastructure assets plays a critical role in ensuring reliable service delivery. Recent discussions have highlighted a significant gap in how utilities monitor and manage these assets, particularly those parts that are not immediately visible or measurable. As utilities increasingly rely on a blend of telecommunications and electrical infrastructure, the importance of understanding and addressing these hidden variables comes to the forefront.
What strategies can utility companies employ to better manage the uncertain factors of asset maintenance? How can advancements in data integration transform the effectiveness of asset care?
At the heart of a recent Experts Talk discussion regarding the modernization of the power grid, these questions were answered by Dr. Dominique Meyer, Founder and CEO of Looq AI. He detailed just how connected the intersection of technology and utility management is. Dr. Meyer also emphasized the potential of data-driven approaches to uncover and address the less observable aspects of utility assets.
Here are some takeaways he raised from his interview:
- Many components of utility assets, like underground cables or concealed wiring, aren’t easily monitored yet significantly affect utility operations.
- Combining data from various sources, including meters and telco data, can provide a more comprehensive view of asset condition and performance.
- Enhanced insights can lead to more proactive asset management, potentially preventing failures before they occur.
- With better data, utilities can prioritize maintenance actions, focusing resources where they are needed most, thus improving cost efficiency.
- Ultimately, improving the maintenance of utility assets leads to more reliable service delivery to millions of customers.
Dr. Meyer underlined the need for utility companies to adopt more sophisticated data analytics strategies to navigate the hidden challenges of asset maintenance.
Utility companies need to adopt more sophisticated data analytics strategies to navigate the hidden challenges of asset maintenance.
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