Meters Asset Management
Management of large populations of domestic and commercial tariff meters requires a number of processes, the key ones being:
- Identification and minimisation of life cycle costs for the installed meter populations.
- Managing replacement with new technology for business advantage.
- Management of future failure risk in new model purchases and in the installed populations.
Understanding the life cycle costs for the installed meters is the underpinning process as it sets the 'business as usual' base line against which changes in asset management strategy may be assessed.
Hyland McQueen Limited have developed a methodology and tool set that enables understanding and forecasting of life cycle costs on meter populations. With this methodology and tool set Hyland McQueen Limited is able to:
- Systematically identify appropriate meter groupings for asset management purposes.
- Identify future failure risk sufficiently early to enable planned intervention.
- Optimise replacement planning to minimise future costs including new technology replacements.
- Forecast future costs over the whole population for budget planning and business valuation.
Aspects of the methods and tools are demonstrated through a case study up-loadable on this link.
Keywords and Phrases
electricity tariff meters, life cycle, asset management, risk management, net present value, cost forecasting,load control receivers