The first chapter sets out the problems of AM within the electricity in UK. In fact the UK electricity companies have owned and operated the UK electricity distribution networks since privatisation took place within UK electricity industry in 1990. Presently the RECs are coming under increasing regulatory pressure to provide a high quality of the service to the customers at minimum cost. To achieve this target, it is necessary to mange the distribution network in an economically efficient manner to ensure that the infrastructure remains in a satisfactory condition.
[...] This due to the highly reliable nature of many electricity distribution assets and the preventive maintenance policies applied. However, for a large number of items of equipment the high level of reliability is associated with safety issue where an item's failure can be catastrophic. The asset management issues in which are interested are: When are networks going to require replacement and how should large-scale replacement be implemented. What is the variation in cost between the different years of a given asset management policy? [...]
[...] However, the solver in Excel is our appropriate software. It meets all criteria implementing the solution such as effectiveness, technical feasibility, desirability and cost. Chapter 5 There are many decisions where the decision-maker is uncertain how to assign the value of some parameters. In general the source of uncertainty can be because of: 1. Lack of reliable data Measurement errors Unobserved events Uncertainty about the future Uncertainty about the structure of the problem itself It provides some techniques used in decision making under uncertainty and their validity in the model suggested. [...]
[...] The second chapter outlines the most important changes in the UK electricity system before and after nationalisation and during the privatisation. Furthermore, what are the cost and benefits of the privatisation and restructuring of electricity industry? The focus of chapter as its title implies, is an overview of some definitions used in capital investment such as capital rationing and times horizon. Hence we are not only interested in determining possible optimal solutions but also in defining the methods we adopt. [...]
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