Utilities as asset managers

This paper is a summary of a panel presentation for the 2003 IEEE/PES Conference. The presentation sets the context for the panel discussion through a short review of the role of asset management in regulated electric power companies from their inception to today. It is important to realize that utilities have exercised an asset management function since the early years of their existence. This is necessary to facilitate the change from the way this function has been performed in the past to a modern, data/information based, near-real-time approach. The new paradigm will require changes to organizational structure, policies, procedures and support systems.