Leisha Krandoo, Engineering Standards Compliance Manager, at UK Power Networks, said: “The accreditation demonstrates our determination to pursue excellence in asset management. We chose TWPL because they have a proven and established audit approach, and were able to provide a team with a depth of electricity distribution experience, which will help us reach a higher level of asset optimization.”
Peter Jay, Principal Consultant, TWPL, (pictured right) presenting the PAS 55:2008 Certificate to Barry Hatton, Asset Management Director, UK Power Networks
The contract with UK Power Networks also involved developing a strategic Asset Management Roadmap TM. The roadmap identified and prioritised opportunities to refine and improve the ‘asset management system’ in order to deliver further value from asset management consistent with this challenge. The exercise included consideration and alignment of ongoing major improvement initiatives.
The TWPL assessment process also included identification of areas of opportunity ‘beyond PAS 55 compliance’ which were reported and presented to the UK Power Networks senior management team. Our experienced consultants then worked with a cross organisational working party to develop a programme of improvements that supported the coming regulatory price review (ED1), which will be the first to incorporate the RIIO model (Revenue = Incentives + Innovation + Outputs).
Peter Jay, TWPL lead assessor, said: “Our methodology develops a comprehensive picture of the current strengths and weaknesses. We then use a well-proven, step-wise method for sorting out priorities, opportunities and action plans with a multi-disciplinary team to take the company forward over a three-to-five-year time horizon. The resulting holistic Asset Management Roadmap™ will take UK Power Networks’ efficiency and effectiveness up to the next level as it faces (like many utilities), increasing performance demands, environmental uncertainties and investment challenges.”
Peter was assisted by Alan Laird, Principal Consultant. Both he and Peter are members of the international TWPL team of PAS 55 Assessors and Trainers as endorsed by the Institute of Asset Management (IAM).
The review also complied with the audit standards set by the IAM for assessment against PAS 55. This includes over 120 specific questions, each considered against a 5-level maturity scale, ranging from ‘Innocence’ to ‘Excellence’.
IAM Maturity Scale for Asset Management
UK Power Networks distributes power to a third of Britain’s population through its electricity networks serving London, the South East and the East of England. The company was named Utility of the Year 2012 and also won the Team of the Year award in the prestigious Utility Industry Achievement Awards.
The company’s 5,000 employees are dedicated to delivering a safe, secure electricity supply to about eight million homes and businesses via its networks of substations, overhead lines and underground cables.
UK Power Networks distributed the electricity at many venues for last year’s international sporting events. This year we are investing £360million in our electricity networks and around £1.8billion in the five years to 2015. We are also undertaking trials to ensure our electricity networks support the transition to a low carbon future.
Customers pay their bills to supply companies but UK Power Networks delivers the power across our three areas. The industry regulator Ofgem sets an allowed revenue to distribution companies so that they can maintain safe and reliable electricity supplies. If customers are unfortunate enough to be affected by a power cut or have another issue with the electricity supply to their property, they should contact UK Power Networks.
TWPL is a world-leading authority and source of expertise and education in the optimal, sustainable management of physical assets. It has offices in the UK, USA and Latin America, with clients in over 25 countries, covering most industry sectors. For further information, please visit www.twpl.com.
PAS 55 is a British Standard’s requirements specification for the optimal management of physical infrastructure assets. First published in 2004, it is rapidly becoming an accepted international benchmark for good practice in whole life cycle, optimised asset management. The 2008 update involved contributions from 50 organisations from 15 industries in 10 countries. In November 2009 the International Standards Organisation agreed to adopt it as the basis for a forthcoming ISO standard for good practices in asset management. For more information please visit www.PAS55.net.