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A Real-World Look at Asset Management Randy Rhodes Manager, Network Planning PacifiCorp InfoNetrix TDMS Executive Market Summit Dallas, Texas September 7, 2003
© 2003 PACIFICORP | PAGE 2 Agenda –Brief Background on Scottish Power Acquisition –Power Delivery u Business Focus and Organization u Functions of Asset Management –Moving to an Asset Management Model u Benefits u Challenges –Observations from the Trenches u What Utilities Want u Key Opportunity Qualifiers –Positioning Your Service and Product
© 2003 PACIFICORP | PAGE 3 Background – Scottish Power Acquisition u Scottish Power Acquired Pacificorp And We Are Now In The Fourth Year Of Successfully Meeting Merger Commitments. Reliability Metrics - Improve SAIDI, SAIFI, MAIFI, Worst Performing Circuits Customer Guarantees - Restoring Power, Planned Outages Notification, Power Quality u Since 2001, Scottish Power Has Divested: Telecommunications/ISP Services Financial Services Retail Stores Water and Waste u Key Organizational Changes Asset Management As A New Function Within Power Delivery Emphasis on Employee Development – Training Centers, On-Line Learning u Current Strategic Goal: To Be A Modern, Efficient, Regulated Electric Utility Which Provides Reliable Service To Customers And Appropriate Returns To Shareholders Over The Long Term.
© 2003 PACIFICORP | PAGE 4 Power Delivery Organization Power Delivery in 2003 Transmission Safety & Environment Distribution Employee Relations & Development Customer Services Commercial Division Controller Executive Vice President Asset Management Field Operations Substation & Dispatch Engineering Finance Support Staff Business Technology
© 2003 PACIFICORP | PAGE 5 Key Components of an Asset Management Strategy –Organizational Focus u Requires a Formal “Asset Management” Group u Separation Of “Owner/Asset Manager” From Service Providers –Consistent Policy and Governance u Centralized Capital Planning And Budgets u Centralized Policies & Standards For O&M u Project-by-Project Approval (No More Blankets) –New Focus for Systems u New Requirements for Network Management Systems u Emphasis on Measurement - KPIs, Asset Performance u Analysis Tools – “Sweat the Assets” –More Data and Improved Data Quality u More Demands on Connectivity Models u More Asset Information Needed
© 2003 PACIFICORP | PAGE 6 Asset Management Transition Plan Capex Limits Customer Guarantees OMAG Limits Capacity Regulatory Strategy Regulators x 6 Joint Use Governance Safety Operational Safety Emergencies Data Quality Resources Asset Condition Approval Committees IT Strategy IT Development IT Support Tools Dollars Targets Telecomms Financial Controls Strategy Policies Plans KPIs Standards External Issues Internal Issues Budgets –Distribution centralized capital planning in Asset Management in 2000 –Currently developing improved Risk and Prioritization tools, cf. UK Asset Management: The Big Picture
© 2003 PACIFICORP | PAGE 7 SP Board ERATICPDPICDPACField Asset Manage- ment <$20k<$150kTechnical<$1M<$3M<$35M>$35M PacifiCorp Board <$7.5M Approval Level Investment Approval Process: Distribution –Multi-level Governance Put In Place To Control Levels Of Expenditure –Governance Includes Re-Approval Criteria, Typically +5% Variance. –Alternatives Presented For All Investments Above $20k –Investment Appraisal Applied For Projects Over $1M –Post-Project Audits Conducted –Asset Management Filters Projects Prior To Submission
© 2003 PACIFICORP | PAGE 8 Benefits of Our Transition to Asset Management –Better Alignment of Infrastructure Decisions With Corporate Objectives u Creates A Clearer Objective: Maximize Shareholder Value With Available Investment Dollars u Leads to More Sophisticated Criteria for Decision-making u Brings Asset Policy Decisions to the Spotlight –Has Developed More Corporate Discipline u Fiscal Discipline On The Owner/Manager Side u Service Provider Disciplines In Engineering And Construction –Has Helped Develop Management u Reorganization Has Created Opportunities for Growth u Has Created a Fresh View of the Business
© 2003 PACIFICORP | PAGE 9 Challenges of Our Transition to Asset Management –Getting A Clear Picture Of Data Quality u Have Developed Data Quality Measures u Influencing Better Quality is More Difficult –Developing An “Asset Register” u “There Is No Such Thing As An Asset Management System.” –Developing an End-to-End Process u Governance and Controls Are In Place u Now Working on a Risk Management and Prioritization System –Tuning the Organization u Increased AM Control vs. Leveraging Field Experience u Increased Governance vs. the Need for a Multi-Year Perspective u AM Responsibility vs. AM Authority
© 2003 PACIFICORP | PAGE 10 Additional Acquisition-Related Challenges –Cultural Differences u “UK Parliamentarianism” Meets “Cowboy Independence” –Terms and Concepts u FERC vs. OFGEN –Regulatory Differences u Capitalization Policies u Mandated Relocations u Scale, Reach, And Diversity Of The Service Territory u Reliability of Supply –Operational Differences u High Load Growth in Utah and Central Oregon –Labor Relations Differences –This All Complicates the Picture u Is This Issue About Implementing Asset Management? u Is This Issue About UK vs. US Operational Differences? u Is This Issue About Cultural or Organizational Traditions?
© 2003 PACIFICORP | PAGE 11 Observations from the Trenches –What Utilities Want u Effective Communication and Thought Leadership u Procurement Flexibility – Shared Risk and Reward u Patience and Perseverance – Basic Business Disciplines –Opportunity Qualifiers to Think About u How Is the Utility Maturing in Their Asset Management Approach? u Does the Utility Have a Strong Business-Side Technology Vision? u Can Business Unit Leadership Clearly Articulate How Project Teams Are Enabled and Will Succeed? u Does the Utility’s Corporate I/T Group Embrace Utility-Industry- Specific Standards?
© 2003 PACIFICORP | PAGE 12 Positioning Your Service & Product –Prepare for the NetGen Customer u New Grads Were Born in 1985 u Can’t Remember Not Being on the Net u Collaborative and Independent - Not Institutional –Educate Respectfully u The Biggest Deficit is Not Economic – It’s Attention u Remember the Pressures Employees Face in a Lean Organization u Graying of the Workforce Is a Challenge – You Can Help Your Customers Learn –Expect that Outsourcing Will Come u CoolKeeper Demand Response Contract Example u Quantum Leap (Turnkey Wasatch Front Infrastructure Buildout) Example u Transformer Monitoring Contract Examples
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