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PAS-55 Overview
Global Perspectives & Implications For The US
NARUC Winter Meeting February 14, 2010
Americas
Asia Pacific
Europe
Middle East/Africa
Americas
Asia Pacific
Europe
Middle East/Africa
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Confidentiality
This document is confidential and intended for thesole use of the client to whom it is addressed. Theinformation and methodologies outlined herein areproprietary and their expression in this document iscopyrighted, with all rights reserved to UMS GroupInc. Copying or distributing this material withoutprior written permission is strictly prohibited.
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ØPAS 55 Background & Global Developments
ØRisk Management As A Cornerstone of PAS-55
ØPAS 55 Assessment Case Study
ØImplications for the US Market
ØUS Case Study – Electric Grid Modernization
ØAppendix
Contents
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Operational And Reliability Risks Are An Emerging Concern For Utility Regulators Around The World
Regulators worldwide are striving to understand and ensure that risks in the
utilities they govern are effectively managed.
Today, Financial risks in the business are identified and measured through
oversight by the rating agencies and security analysts. Safety risks are made
more transparent with oversight from OSHA, and Environmental risks are
overseen by the EPA.
However, operational and reliability risks in the business lack an equivalent
oversight body or an organizing framework through which Regulators can
assess such risks, or define standards to which utilities can be held
accountable.
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Publicly Available Specification (PAS) 55 Is Growing In Popularity As AFramework That Can Address This Gap
PAS 55 codifies standards for analytic rigor in decision making, defining and
clarifying the competencies required for technical and operational risk
management in the business, and driving transparency in Capital investment
and system performance and reliability.
It is being advocated by many utility regulators and adopted by many utilities to
serve as the organizing framework for ensuring better operational performance
and lower reliability risk in the business.
It has great potential to deliver direct short term improvements in:
– Management analysis and option evaluation
– Capital investment - optimization and transparency
– Lifecycle rationalization – through reliability driven maintenance and investments
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PAS 55 – An Emerging Global Standard For Utility Asset Risk and ReliabilityManagement
Originating through a multi-industry collaborative effort in the UK in 2004,
PAS 55 has been championed by the Institute of Asset Management and
sponsored by the British Standards institution For All Asset Intensive
Industries.
OFGEM, the UK regulator has mandated that all UK utilities be compliant
with the Specification, and a growing number of regulators around the globe
(North and South America, Europe, and Asia) have expressed interest and
encouraged their utility charges to consider adoption of PAS 55.
But here in the US, there appears to be more interest coming from the Oil
and Gas and manufacturing sectors, than from utilities.
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The Ongoing Ability Of Utilities To Meet Ever More Stringent Requirements ForT&D Reliability In The Face Of Aging Assets Is One Of The Greatest OperationalRisks In The Business Today
This is l ikely to be exacerbated by inv estments in sm art metering, with result ing
grow th in c ustom er expectat ions for even better rel iabi l i ty.
More effectiv e and transp arent strategies, processes, management and
organizat ional systems and “tools” wi l l be necessary to balance these conv erging
needs.
The strategic b enefi ts for applying PAS 55 and the asset management m odel
include:
– Clarifying and focusing decisions to ensure capital investments provide customers the full
benefits of a modernized network - from the source (i.e. generation) through the delivery
system, and to the customer premise (i.e. expanding the discussion beyond SmartGrid and
AMI to address the issues of an obsolete and aging infrastructure).
– Integrating a long-term strategic plan for the grid with the ever-present need to meet near-term network / system performance mandates.
– Mitigating the technology risk of investments, acknowledging that the emerging technologies
related to SmartGrid and Smart Metering introduce a level of uncertainty regarding costs
and benefits, and that the underlying assumptions of any business case will warrant
continued challenge and refinement throughout implementation.
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ØStrategic, Tactical, and Technical Asset Management have developed at a rapidpace in recent years, leading to the development of organizations like the UK basedInstitute of Asset Management (IAM), and development of a formalised standardslike PAS 55, covering the optimized management of physical infrastructure assets.
ØThis specification was issued in 2004 and updated in 2008 by the British
Standards Institute as the result of a multi-industry working party of IAM.
ØIt is a currently a UK specification at this stage although it is structured to alignwith other commonly used standards, and planned to become a full ISO standard.
ØIt was drawn up to provide best practice guidance for organisations responsiblefor managing assets, and has been drawn from the experience of a wide cross
section of industry (including gas and water utilities), and was initiated in responseto the recognition that there was no existing reference standard for assetmanagement.
Evolution … Why Is PAS 55 Needed Now?
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PAS 55 Is Based On A Plan-Do-Check-Adjust (PDCA) Methodology And Drives TheOptimal Mixture Of Capital Investments, Operations, Maintenance, Resourcing, RisksPerformance And Sustainability
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Global Developments
ØCompanies in all sectors are rapidly picking up on the potential benefits throughhigher reliability, stable and cost-effective asset performance, improved customerservice, and enhanced relationships with Regulators.
ØThere is growing regulatory interest, particularly from Europe:
ØExamples include UK regulator OFGEM pushing for utilities to be PAS 55 compliant by2008; the Dutch regulator DTe has stated that PAS 55 certification is an appropriate answerto the regulatory requirements set on utility distribution companies.
ØOfgem advised Network Companies that PAS 55 certification would help provideassurance of long term asset stewardship and establish greater clarity of assetmanagement policy and processes that underpin the investment decisions of T&D Network
Companies.
ØThe flow of companies preparing for PAS 55 Asset Management certification isgrowing, and we can expect equivalent ISO Certification for asset intensivebusinesses to ultimately become a widespread regulatory requirement.
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United Arab Emirates
TCO• •
•
•
••TRP
Australia/New Zealand
•
•
••
•
Europe
•
•
•
•
•
•
Asia
North America
•
•
•
Interest and Take Up Rates
CLP
Strong Interest In UK/Europe-Regulatory drivers; most UK
utilities certified, ComplementaryStandard Proposed By ESSA
Strong Interestin Mid East (egCertification inUAE and Oman)
WidespreadInterest inCanada but
less in USA
Australia/NZ varyingdegrees of interest,
ComplementaryStandard Proposed
By ESSA
Strong Interestin Asia eg,Certification atCLP – seekingLevel 2
Local & Global Developments
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ØPAS 55 Background & Global Developments
ØRisk Management As A Cornerstone of PAS-55
ØPAS 55 Assessment Case Study
ØImplications for the US Market
ØUS Case Study – Electric Grid Modernization
ØAppendix
Contents
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PAS 55 Defines Required Compentencies And A Maturity Sacle For Each – EnablingAssessment Of Asset Management Competencies Across The Full Range Of Development
The elementsrequired by PAS 55are not in place.The organisation isin the process ofdeveloping anunderstanding ofPAS 55
Maturity level 1 Maturity Level 2
The organisationhas a basicunderstanding ofthe requirements ofPAS 55. It is in theprocess of decidinghow the elementsof PAS 55 will be
applied and hasstarted to applythem
Maturity level 3
The organisationhas a goodunderstanding ofPAS 55. It hasdecided how theelements of PAS 55will be applied andwork is progressing
on implementation
Maturity Level 4
All alements ofPAS 55 are in placeand are beingapplied and areintegrated. Onlyminorinconsistenciesmay exist.
Maturity level 5
Using porcessesand approachesthat go beyond therequirements ofPAS 55. Pushingthe boundaries ofasset managementdevelopment to
develop newconcepts and ideas
Learning App lying Embedd ing Optimis ing &
integrat ing
Beyond
PAS55
ExcellenceCompetenceDevelopment Awareness
I n n o c e n c e
PAS 55 Maturi ty Scale
Notes on the use of the maturity scale:
1 As indicated by the colour transitions, the boundaries of the maturity scale are not hard values
2 The interpretation of assessment results onto the maturity scale is best done by an experienced assessor
3 Compliance with PAS 55 is at maturity level 3
4 There is no upper limit to excellence as defined by the red coloured zone
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Focused Interviews Within An Organization Often Reveal Key Gaps In Risk Managementand Investment Planning Processes, Systems and Skills … in The Opinion Of KeyManagers Across The Business
“We’re Tooconservative
when it comesto risk”
“We areefficient but do
not know ifwe're working
on the rightthings”
“A Process todetermine the
optimalcombination ofprojects - really
only happens onan Ad Hoc basisin the operations
group”
“The budget this year isunder Finance, but they
don’ t h ave theresponsib i l i ty to ident i fythe projects (that is underthe Distribution engineers)- the budget should also be
under Distribution”
“Risk is notunderstood
in somedecisions”
Assessment - Risk Management is do ne on a ad hoc basis, there is no day-to-day RiskManagement process in place. Scenar io based Port fo l io Opt imi zat ion is not do ne
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But The Opinions Of Employees Often Vary Widely And Demonstrate A Lack Of StandardsFor Measuring The Effectiveness of Individual Competencies. (E.g., Risk Management)
Awareness Development Competence Excellence
I n n o c e n c e
2a. Risk Management
Range of Employee OpinionEmployee opinion average 3rd Party Assessment
Summary
Difficult to do risk modeling and analysisRisk analyses capabilities are immature
Risk management is done on an ad hoc basisNo formalized risk management process available or documented
• Risks are evaluated in different ways.
• No standardize/formalized risk register available
Goals and objectives are not well translated into an easy to handle Risk
management framework (risk Valuation, risk tolerability, risk reduction
valuation, etc.).
Complications / Barriers to ChangeKey Observations
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ØPAS 55 Background & Global Developments
ØRisk Management As A Cornerstone of PAS-55
ØPAS 55 Assessment Case Study
ØImplications for the US Market
ØUS Case Study – Electric Grid Modernization
ØAppendix
Contents
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Stakeholder needs & objectives must be translated into asset managementbusiness mandates, Critical Success factors and Key Performance Indicators
0
0,2
0,4
0,6
0,8
1
Financiële prestatie
Service kwaliteit
Veiligheid
ImagoMilieu
Juridisch
Regulering
Customers
Financial performance
Regulation
Legal
Environment Image
Safety
EmployeesShareholder Government
Business Values §Critical Success Factors
Quality ofService
§ Reliability ofService
§ 28 < CustomerMinutes Lost< 32
§Key performance Indicators
AssetManagementOrganisation,Strategy&Values
AssetManagementCompetencies
AssetManagement
EnablingTechnology
AssetManagement
Processes
AssetManagement
System
ServiceQuality
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Utilities Can Often Agree On What Their High Level Asset Management Process(Capex & Opex) Should Look Like …
Generatealternativesolutions
Analysis of riskand businessimpact of each
solution
Select theOptimum mix of
investments
Analyseproblem againstassessment
criteria
Identifynetworkproblem
Gain approvalfor investments
Handover toservice
provider forimplementation
Initiatinginformation
(asset failure,overload issue,
capacity problems)
System designrules
Investmentdelivery processstarts here!
Investment(CapEx &
OpEx)Portfolio
Optimization
Lack riskreductionvaluation
frameworkcriteria
We almostnever puttogether a
risk analysisbefore
submitting aproject for
approval
Approval process istop heavy, the rolesare not well defined
and the variousservices are handed
off to other roles
Have tohave a planover many
years
We do not havethe inventory of
the problemswith the network
Haven’t identified thecriteria in order to
prioritize the problemstaking account of the
possible impacts
Ability to access up-to-date information/data
We have not clearlydefined our threshold
of risk tolerance
Multidisciplinary
Problems
Usuallydon’t
considermore than
oneoption
We haven’t identifiedthe individuals
responsible for datamanagement
…However, Bottlenecks and Improvement Opportunities Are usually CommonKnowledge And Can Emerge From Focused Interviews.
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The Competences Involved In PAS 55 Span The Full Range Of Technical And NonTechnical Skills, Systems and Processes.
1 Client oriented2 Team spirit3 Flexibility4 Initiative5 Professional Integrity6 Listing skills7 Oral communication8 Written communication9 Adaptively10 Coaching and Leadership11 Creativity12 External Awareness
13 Vision14 Organisational sensitivity15 Negotiating16 Decision making17 Results-oriented18 Progress monitoring19 Market-oriented20 Planning and control21 Judgement22 Analytical problem solving23 Infrastructure calculations24 Information/functional requirements25 Risk inventory and assessment26 Risk calculations27 Risk management28 Statistics29 Asset life cycle management30 Maintenance management31 Strategy development32 Financial quantification options33 Make detailed project plans34 Prioritising35 Prognosticating
CoreCompetencies
Technical
competencies
Company specificcompetencies
Non TechnicalCompetencies
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ØPAS 55 Background & Global Developments
ØRisk Management As A Cornerstone of PAS-55
ØPAS 55 Assessment Case Study
ØImplications for the US Market
ØUS Case Study – Electric Grid Modernization
ØAppendix
Contents
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ØPAS 55 Background & Global Developments
ØRisk Management As A Cornerstone of PAS-55
ØPAS 55 Assessment Case Study
ØImplications for the US Market
ØUS Case Study – Electric Grid Modernization
ØAppendix
Contents
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3 to 5 year planning and budgeting horizon, with most discretionary capital focused on:
• Maintaining SAIFI, CAIDI, and SAIDI,
• Addressing “worst performing circuits,” and
• Forced replacement.
Result = functioning but technically obsolete assets, operating beyond accounting and
engineering lives, diminishing returns on reliability investmentsCommissioned two studies:
• Grid Modernization
• Development of a Smart Grid roadmap
It quickly became apparent that benefits of Smart Grid/AMI could not be realized without acomprehensive T&D Strategy:
• Scope and cost
• Holistic customer oriented view of benefits
• Regulatory and funding strategy
• Community Outreach / communication strategy
Utility Case Study: Investor-owned, 550,000 Customers, 1,984 Square Kilometers,200+ Distribution Substations, 700 Circuits, ~9,000 Circuit Kilometers
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ØPAS 55 is not an end in itself but reflects a broader, highly valuable asset managementapproach.
ØResults can be integrated into a pragmatic and integrated roadmap, with two levels ofplanning detail:
ØThe first is a 3-5 year strategic objective (a timescale that is sufficiently long for significant change tobe achieved in staff competencies and behaviours, yet soon enough for the establishment of personalcommitments to its achievement)
ØLinked to these specified longer-term goals are the specific actions required in the first 12 months to:a) obtain “quick wins” and demonstrate to all the benefits and realism of the asset-centric approach andb) lay the necessary foundation for the longer lead-time changes (organisational, educational, and behaviorial)
ØThe PAS 55 standard has enabled many organisations to position themselves well withrespect to regulatory and stakeholder pressures and to identify fully optimised andsustainable business improvements.
UMS Group Was Asked To Assess Their T&D Plan And Reliability ManagementProcesses. We Applied PAS 55 Standards For Asset Management…
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Case Study (Cont inu ed)
Major Initiatives Were Identified, Employing Over 65 Modernizing Actions AcrossThe 200 Substations And 700 Circuits.
• 4.8kV Distribution
• Use of 34.5kV Subtransmissionfor Distribution
• Pre-1984 Installed URD Cable
• Secondary UG Networks
• 13.2kV in need of Hardening andPre-Modernization
• Capacity insufficient to supportautomatic switching
1. Rising and
Critical Role of
Electricity
3. Increasing
Customer Usage
and Expectations
4. New T&D
Infrastructure
Technologies
2. Network
“Legacy”Issues
Driving ForcesBehind
Modernization
I. Cost Reduction
/ Avoidance
II. Improved
Reliability &Power Quality
IV. Statewide
EconomicDevelopment
III. Environmental
Improvement
Stakeholder Benefits from Modernization
A. Investment
Recovery via
Rates
B. Equity /
Social Justice
of the Plan
C. Pace of
Proven New
Technologies
Constraints /
Decision FactorRelated toModernization
UtilityGrid
Modernization
Technical Legacy Issues
A total estimate of $1.7 billion ($3,000+ per Customer) was produced (This was a factor of5 greater than the original SmartGrid estimate of $250 - 275M).
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Case Study (Cont inu ed)
The Size Of The Estimate Drove The Need For A Comprehensive View Of AllBenefits:
1.RisingandCritical Roleof
Electricity
3.IncreasingCustomer UsageandExpectations
4.New T&DInfrastructureTechnologies
2.Network“Legacy”Issues
DrivingForces
BehindModernization
I. Cost Reduction/Avoidance
II. ImprovedReliability&
Power Quality
IV. StatewideEconomic
Development
III. EnvironmentalImprovement
Stakeholder Benefits from Modernization
A. InvestmentRecovery via
Rates
B.Equity/Social Justice
ofthe Plan
C. PaceofProvenNew
Technologies
Constraints /Decision Factors
Related toModernization
UtilityGrid
Modernization
Benefit Analysis Framework:
• Technical actions translated into non-technical benefits
• Captured the “many-to-many”relationships between actions andbenefits
• Comprehensive portrayal of all benefits:
− 1.5% decrease in electricity usage
− 213,000 metric tons reduction ofcarbon emissions
− $70 million in energy savings
− $29 million annually saved invariable Opex costs
−
Deferral of 75 MWs of RequiredGeneration Capacity for 5 years
− 40% reduction of customerinterruptions
− 500 new jobs in the State
Reduce Line
Losses
Protect theNetwork
Automate theNetwork
Standardizethe Network
Automate CustPremises
Effect of theInvestment
Gen Capacity Avoidance
EnergyEfficiency
Operational
Efficiency
ReliabilityImprovement
Modernized
Automated
MeasurableImpact
BenefitsTracking
Reduce
Costs
AvoidInterruptions
Environmental
(CO2 Eq.)
CustomersModernized-T2
Customers Automated-T3
kW
kWh
CI’s
$$
#Cust
#Cust
CustomersSecured
#Cust
ProgressTracking
Customersw/ AMI-T4
Modernizationand
Automation Actions
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Case Study (Cont inu ed)
Net Rate Impact Of $1.7 Billion Portfolio To The Customer (5 – 6 X Normal Capex)
At its peak, the program added approximately 0.346 cents per
kilowatt-hour = $3.37 per month for the average customer.
Estimated Cost Impact From Grid Modernization
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Q&A / Thank YouQ&A / Thank You
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UMS has been at the forefront of Asset Management developments for over 15years and our role with PAS 55 is influencing outcomes for the industry.
We are:
Ø Closely aligned to and Member of the IAM
Ø A member of the Review Committee for PAS 55 Asset Management and theongoing development and review of the specification
Ø At the forefront of how PASS 55 affects regulatory and businessperformance of major infrastructure organizations
Ø Our approach is based on kick starting organizations with an AwarenessTraining program with Certification recognizing such training has takenplace.
In general, our methodology assesses the asset management capability of anorganization; and scopes and rates the potential impact of improvement activitiesto establish a best practice, risk based asset management approach – a corerequirement of PAS 55
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A Growing Number of Utility Companies Have Been Moving Toward PAS-55Certification for the Past 5 Years
2010Transco UAE
Apr 2008Northern Gas Networks
Mar 2008Manweb, SP Dist, SP Trans)
Mar 2008SSE (SHETL, SHEPD, SEPD)
Apr 2008Scotia
Dec 2007SP Power Systems ( SP
Mar 2008CE Electric
May 2007Central Networks
Mar 2007CLP Power, Hong Kong - PowerSystems Business Group (PSBG)
Mar 2007National Grid Gas Distribution
Feb 2010Feb 2007National Grid Gas Transmission
Feb 2010Feb 2007Central Networks
Jan 2010Jan 2007United Utilities
2006Essent Netwerk (Netherlands)
Nov 2009Nov 2006EDF Energy Networks
Nov 2009Nov 2006WPD
Oct 2008Oct 2005NGET
Re-certification dueDate CertifiedCompany
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AppendixAppendix
UMS Group Involvement In PAS 55
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Portfol ioManagement
Standards Can Help Identify Specific Gaps. E.G., Level 1 Risk Management and InvestmentPlanning & Portfolio Management processes and their outputs
Investment planning
2.1
Generatingmeasures(mitigation
tactics)
2.2Selectingmeasures
2.3Making
measuresready for
implementation
Risk management
1.2Selectingrisks
1.1
Inventoryandanalysis of
risks
3.1
Definitiveselectionof
measures
Risk register Solution register
Optimized Asset
Management
Plan
Investment
Del iveryManage- ment
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Identified Opportunities Can Then Be Translated Into Activities And Plotted On ATransformation Roadmap
Applying Awareness
EmbeddingDevelopment
Optimizing &integratingCompetence
Beyond PAS55Excellence
As Is
O r g a n i z a t i o n ,
S t r a t e g y &
V a l u e
Processes Enabling Technologies Competencies
1. AMRoadshow
11a. AM training(pilot)
11b. AM training(pilot)
2. Design &Establish Asset
Owner role
3. Develop AM BusinessValue Framework
10. DevelopManagementdashboard 18.
(Re)developplanning andcontrole cycle12. (Re)implement
Roles & Responsibilities AO, AM, SP
4. (re)developRisk Management
process
5. AdjustInvestment Planning
process
7. AdjustInvestment Delivery
process
8. Develop
Asset InformationManagement process
17. (Re)implement RM,IP, IL en AIM processes
15. Develop AM ITarchitecture
16. Develop AMData architecture
13. DetermineData Quality
demands
20. ImplementIT & Data
Architecture
9. Frame AMCompetence
demands
14. AMcompetencesgap analysis
19.Develop/train
AMcompetence
gaps
To Be
2009 2010 2011Ambition?
6. Develop PortfolioManagement
process
Recommended