During the second quarter of my E. S. Cornwall Memorial Scholarship (1st December 2014 to the 28th February 2015) I have continued my placement with UK Power Networks based predominantly in the Engineering Standards and Assurance Team. My work during this period, which was multifaceted, included:
- Developing an “Asset Management Manual,” which outlines how UK Power Networks manage their assets and how their systems and process are consistent with the requirements of ISO55000. This document will play a key role in UK Power Networks’ transition to and accreditation with ISO55000.
- Documenting the Distribution Transformer model utilised in the Asset Risk and Prioritisation tool.
- Undertaking a short placement with the Strategy and Regulation team where I was responsible for analysing and benchmarking DPCR5 and RIIO-ED1 plans across the UK’s 14 distribution license areas.
Through this experience I have continued to learn about optimising expenditure in asset management, particularly through my experience with the Asset Risk and Prioritisation tool. In addition, my experience with the Strategy and Regulation team highlighted the role of the regulator (Ofgem) in incentivising DNOs to improve efficiency and reduce cost.
My second quarterly report (PDF 1.4MB here) provides an overview of the RIIO model’s output measures and incentives, highlighting challenges they pose for DNOs and how similar mechanisms may be utilised by the Australian Energy Regulator.
It also details my work on the “Asset Management Manual” and Asset Risk and Prioritisation tool.
I welcome any feedback on this report or my future direction.