Siemens (News - Alert) Smart Grid Division—a provider of products and solutions for intelligent and flexible electrical network infrastructures— has sealed an agreement with Montreal-based Utilicase to offer power utilities in the North America market a combined solution, linking smart grid functionality with enterprise asset management.
"The goal is not to replace the investment made by utilities recently in enterprise asset management—but to leverage the Utilicase EPS-M platform coupled with Siemens’ asset and operational knowledge to make the existing information actionable and provide critical insight into grid reliability and risk," said Spero Mensah, CEO of Utilicase.
The new smart asset management platform will enable utility customers to better manage data analytics; and will deliver a holistic view of present grid reliability, as well as provide opportunities to optimize reliability in the future.
Utilicase EPS-M software provides solutions to mitigate the effects of aging infrastructure— while improving reliability, increasing productivity, and holding down costs for maximum return on investment. It offers a strategic asset management methodology that helps address the following questions:
- What is the effective age of our critical assets overall?
- What is the short-term probability of failure of our critical assets?
- What are the criticality impacts and the related risks to system reliability, continuity of services and operational performance?
- What are the optimal corrective actions in terms of maintenance practices and priorities?
- Given the health status of the assets, system reliability objectives, and operational performance objectives, what are our optimum investment projects?
- What are the reliability risk associations with underinvestment?
"As consumers look for ways to better manage their energy consumption, this solution will help utilities [to] better utilize internal resources to improve grid dependability for their customers," said Thierry Godart, president of Siemens Smart Grid Division North America, located in Minnetonka, Minnesota.
The combined solution will be modular and capable of being phased in over several years. This approach allows the customer to ensure that benefits are realized incrementally over time, while minimizing implementation risk and business process disruption.
Siemens Smart Grid and Utilicase will be conducting joint presentations to customers over the coming months to introduce the combined solution and its benefits.
The joint agreement is an extension of an existing relationship between Siemens and Utilicase. Both companies have worked together in the past to deliver a joint customer solution in energy automation.
Edited by Brooke Neuman