Operational Assessments and Asset Audits
The success of any electrical utility corporation depends on two things:
- Managing your assets effectively
- Making the right operational decisions that help you reduce costs and improve profits.
With the uncertainty and variability of today’s energy markets, it is more important than ever that electrical utility corporations find ways to improve their operational efficiency. As an unbiased third-party, EITI can conduct an audit of your operations and the maintenance of your assets to help you discover ways of reducing operational inefficiencies and improving profits.
With extensive experience in various types of electrical utility operations, our Operational/Asset Audit Team can help you think outside the box and open the door to new possibilities.
OPERATIONS ASSESSMENTS
With the uncertainty and variability of energy markets and your power supply, are you confident in the decisions you are making? For instance, your power supply can be highly variable. What tools do you have that help you decide when to use or save that limited resource? What about managing the selling and buying of electricity for optimal profits? What about the effects your electrical utility operation has on the environment?
An Operations Audit will look into this and how your resources are managed on a larger scale. A typical Operations Audit looks at the following factors:
- The tools and management techniques that are used to optimize the use of the water and other generating sources.
- The tools and management techniques that are used to determine the value of surplus generation capability.
- The tools and decision support that are used to help make decisions on the selling or purchasing of surplus energy and capacity.
- The tools and decision support for scheduling maintenance outages.
- The opportunities for cost savings and the potential to increase revenues.
Upon completion, you will have the information you need to make better business decisions, from avoiding possible penalties for environmental impacts to managing your power capability for optimal reliability and cost savings. Ultimately, it is quite feasible that we can show you how to manage your resources effectively enough to save your operation thousands of dollars every year.
ASSET MANAGEMENT AUDIT
Sustaining or improving the reliability of your aging assets, while minimizing operational, maintenance, and capital costs is vital to every electrical utility company. Also, managing risks (operational, safety, environmental, etc.) and maximizing worker productivity remain key aspects of any business. In order to maintain a solid return on investment from year to year, utility operations must design and implement a plan for managing their assets.
EITI offers an Asset Management Audit which is essentially a review of the current condition of your equipment and plant at large. A typical audit includes the following:
- Review of existing assets and their status in the equipment life cycle.
- Review of power production, products and services, including benchmarking.
- Review of existing maintenance practices and the identity of future opportunities to improve those practices.
- Review of existing capital plans and the development of a frame-work for future investment, including a time-line for asset repair, replacement, rehabilitation, upgrade, and decommissioning.
- Identification of key issues, including setting targets for reliability and availability.
- Development of an Asset Plan, that aligns with the generation strategy and work plans.
Upon completion of the asset audit, your business will be able to improve on the plant’s return on investment and be able to reinvest for the long-term health and growth of the business.