Aging Equipment Replacement in Power Systems, Using Reliability and Cost Appraisals
Electrical energy on demand is the trend modern society has come to expect. The adequate function of electricity network to meet demand depends on many factors including; actual physical network operating configuration, failure and restoration expectations of network equipment such as transformers, circuit breakers, transmission lines etc. Many of these facilities in the current networks are aging, at a level where repair and maintenance is not financially feasible. However, equipment and replacement costs normally are highly substantial and require advanced planning and lead-time.
Risk of load supply failures normally increases with the aging equipment, introducing serious consequences to the continuity of electricity supply, and can pose extensive outage cost to customers. In addition, due to high equipment and storage costs, economically it is not viable to purchase and store spares in warehouse for extended period of time.
This presentation intends to address the equipment replacement in power systems where aging facilities are of concern. The approach taken in this talk is to include many of the influencing factors such as; reliability estimate, equipment cost, customer outage cost and network configuration as part of a comprehensive method addressing timely replacement of aging equipment in utility network.