Key points from “Economic Benefits of Increasing Electric Grid Resilience to Weather Outages”

Grid Resilience Veracity Asset Management GroupThe report “Economic Benefits of Increasing Electric Grid Resilience to Weather Outages” from the Executive Office of the U.S. President, released in August 2013, is worth being looked at again as the grid and utility companies have to cope with new challenges. Our critical spares management solution Veracity Connect answers some of these challenges met by utilities, as described at the end of the article.

  • The U.S. grid connects 5,800 power plants and delivers electricity to over 144 million customers via 450,000 miles of high voltage lines.

U.S. Grid Infrastructure Veracity Asset Management Group

  • The grid is aging and needs to be modernized: “Seventy percent of the grid’s transmission lines and power transformers are now over 25 years old and the average age of power plants is over 30 years (Campbell 2012).”

U.S. Billion-dollar weather outages Veracity Asset Management Group

  • Due to its aging infrastructure, the grid is exposed to increased risks due to extreme weather conditions (storms, thunderstorms, floods). The U.S. Department of Energy (DOE) reports more than 670 power outages between 2003 and 2012 each affecting more than 50,000 customers. “The U.S. energy sector in general, and the grid in particular, is vulnerable to the increasingly severe weather expected as the climate changes (DOE 2013).”The damages caused by the 144 main weather disasters since 1980 have totaled more than $1 trillion.

Outages US Utility Veracity Asset Management Group

  • Through the “Recovery Act” in 2009, the U.S. Department of Energy has been allocated $4.5 billion to modernize the grid’s resilience toward severe weather.” A more resilient grid is one that is better able to sustain and recover from adverse events like severe weather – a more reliable grid is one with fewer and shorter power interruptions. Methods for improving the resilience and reliability of the grid include both high and low-tech solutions.”
  • The U.S. Government sees an industry-wide program as one of the strategies to increase the grid resilience. “Grid resilience strategies require a partnership across all levels of government and the private sector to promote a regional and cross-jurisdictional approach.”

Availability of Critical Components and Software Systems” is one of the priorities of the U.S. government to improve the grid’s resilience. “utilities can employ asset management strategies that lead to greater availability of critical components”, such as large power transformers. Our cloud-based platform Veracity Connect intends to answer this priority by offering utilities a clear view of available critical equipment through a cloud platform, by putting them in direct contact with other utilities, OEMs, brokers and industry partners.

Some of the benefits are:

  • Mitigate risks by adopting a proactive approach to potential failures.
  • Locate out of stock or hard to replace equipment.
  • Offset capital expenditures by sourcing and comparing available assets. No comparable solution offers to put you in direct contact with other utility members.
  • Network with industry partners and get updated on critical spares market trends.
  • Store key data (e.g. asset specifications, pictures) and get reports on matching assets.
  • Liquid surplus or idle items and maximize their value.
  • Ongoing assistance from Veracity’s Team.

Veracity Connect, collaborative platformFull report “Economic Benefits of Increasing Electric Grid Resilience to Weather Outages”

Go further with:

North American Reliability Corporation

The North American Electric Reliability Corporation (NERC) is a not-for-profit international regulatory authority whose mission is to ensure the reliability of the bulk power system in North America. NERC develops and enforces Reliability Standards; annually assesses seasonal and long‐term reliability; monitors the bulk power system through system awareness; and educates, trains, and certifies industry personnel. NERC’s area of responsibility spans the continental United States, Canada, and the northern portion of Baja California, Mexico.

Federal Energy Regulatory Commission

The Federal Energy Regulatory Commission, or FERC, is an independent agency that regulates the interstate transmission of electricity, natural gas, and oil. FERC also reviews proposals to build liquefied natural gas (LNG) terminals and interstate natural gas pipelines as well as licensing hydropower projects.

The Independent Statistics & Analysis U.S. Energy Information Administration recently released maps of energy facilities and risk areas, especially the “flood vulnerability assessment map” you can find here:

9 Key Facts from the “Large Power Transformers and the U.S. Electric Grid” Study:

Why Do Transformers Fail:

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