A RISK BASED APPROACH TO DISTRIBUTION SYSTEM ASSET MANAGEMENT AND A SURVEY OF PERCEIVED RISK EXPOSURE AMONG DISTRIBUTION COMPANIES

Abstract

There is an increasing trend towards using the concept of risk assessment as an important tool in distribution system asset management. The paper presents a framework of three main stages in the process of risk management for distribution companies being ‘Risk Study Planning’, ‘Risk Scenario Identification’, and ‘Risk Modelling – Analysis – Decision Making – Communication’. A description of risk related challenges for distribution companies is also presented – based on a survey performed among distribution companies in Norway, Finland and France. The results show six main categories of challenges which contribute to the total risk picture.