Calculation of stress-dependent life cycle costs of a substation Subsystem-demonstrated for controlled energization of unloaded power transformers

This paper presents an algorithm for calculating the life cycle costs of a power apparatus taking into account the deterioration process of the apparatus subjected to stress during its operational lifetime. The algorithm models the life-cycle of a power apparatus using a continuous-time Markov chain in which costs related to the deterioration stages of an apparatus during its lifetime are considered. The methodology is used to calculate the financial implications of introducing new equipment which reduce the stress for the adjacent apparatus in a substation. As an example, in this work the financial benefits of controlled energization of an unloaded substation power transformer are calculated. The analysis demonstrates the high financial benefits resulting from the introduction of controlled transformer energization