Q. Zhuang, W. Cao, D. Djairam, K. Wu, J. J. Smit: Investigation on Economic Feasibility of Maintenance Strategies under Regulatory Restrictions. Accepted by ISH2011, the 17th International Symposium on High Voltage Engineering, 2011
Regulators and stakeholders are imposing stricter restrictions on maintenance activities on high voltage components. Faced with this pressure, the asset manager should understand technical and financial implications of decreased maintenance and therefore apply proper strategies to balance performance and expenditures. In this paper, a probabilistic model is first introduced to illustrate the generic relationship between service life, health condition, diagnostic index and failure probability. The parameters of the model are linked with the pressure from stakeholders. Then we simulate the lifecycle cost of a cable fleet with time-based maintenance or condition-based maintenance applied. After repeating the simulation for different reliability and economic parameter values, it is concluded that condition-based maintenance is profitable only in certain scenarios of regulatory restrictions.