What are 'invisible asset problems' in the utility sector?

Invisible asset problems refer to degradation, wear, or failure risks in utility infrastructure that are not immediately apparent through routine inspections or standard monitoring. These issues often develop gradually and go undetected until they cause outages or expensive emergency repairs. Because they are hidden, they are frequently underestimated in maintenance budgets and planning.

How can utilities proactively address hidden maintenance challenges?

Utilities can adopt proactive monitoring strategies such as predictive analytics, remote sensing, and continuous condition monitoring to detect early signs of asset deterioration. Integrating data from multiple sources allows maintenance teams to prioritize interventions before failures occur. This shift from reactive to proactive maintenance can significantly reduce operational costs and unplanned downtime.

Why is utility asset maintenance becoming more complex?

Aging infrastructure, increasing grid demands, and the integration of renewable energy sources are all adding complexity to utility asset management. Many assets were designed decades ago and are now operating beyond their intended service life, increasing the risk of unexpected failures. The growing volume of data generated by modern grid systems also requires more sophisticated tools to interpret and act upon effectively.

Utility Asset Maintenance Comes with Hidden...

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

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By Dominique Meyer, Ph.D. · May 7, 2024, 11:53 PM UTCAsset MaintenanceDr. Dominique MeyerEnergyExperts Talk

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.

Video TranscriptExpand ↓

I I wanna touch on bullet on the, parts of the assets that you cannot see or cannot measure. Right? And I think the meters are placed that you can have very clear observables to grid behavior, between that substation into, you know, homes, into into businesses. But there are a lot of uncertain factors that utilities care about. That's where the interplay between telco and electric utilities resource mattering. Is it, a failed wire conductor because a tree come back came down and that also affected the fiber? Is it an undergrounding, scenario where you have aging of of cables? All those factors really foster, I think, a thought process beyond what you can easily measure into how can you combine different data sources. Right. And I think when you start finding what, for example, a meter can show into what physical assets, degrade or the physical conditions are, all of a sudden, you have so much more information to work off of to be able to understand how how do you deal with this large scale problem and how do you efficiently resolve this for millions of customers that you need to service reliably.

About the author

Dominique Meyer, Ph.D.

Utility Asset Maintenance Comes with Hidden Challenges Companies Can Get Ahead Of

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