Smart Meter (Device) Asset Management
Today, I want to talk about Asset Management and why meter asset management needs to evolve from how legacy meters have been managed over the years by utilities. I will talk about smart meters in this blog but the discussion is equally valid for any smart device.
Smart meters have a meter module, 2-way communication device, utilize sophiscticated communications infrastructure, are remotely operated (reads, disconnects/reconnects), and support potential DR programs. These new meters will provide frequent data that will be fed to the billing and customer service systems. Fraud, theft and other alarms can be automatically integrated with Work Management systems. Integration with GIS systems will lead to efficient location of meter asset. Data analysis based on any outage notification can lead to better outage management from integration with OMS. It is critical that these smart meters be managed as an enterprise asset under a Enterprise Asset Management plan.
So, what are the benefits of asset management? Utilities need to identify asset management objectives and identify the top priorities that they need to address for asset management. Some of the high-level objectives are:
- Optimize Asset Utilization
- Increase Asset Reliability
- Reduce Maintenance Costs
- Improve Collaboration - Procurement, Operations and Maintenance
Utilities needs to then quantify the benefits from these top priorities. The quantification is necessary to justify the business case as well as prioritize desired business capabilities for Smart Meter Asset Management. Once capabilities are prioritized, utility can create a value-based implementation roadmap to enable smart meter asset management.