Understanding the importance of good asset management
New York Power Authority (NYPA) is the largest state-owned electric utility in the United States, responsible for critical generation and transmission systems across New York State.
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- Main services:
- Asset management
NYPA established that good asset management was one of six essential strategic initiatives to help them adapt to changes in their industry, such as technological transformation, new customer consumption patterns, and the demand for affordable and renewable energy.
- 1,400 16 generating facilities and more than 1,400 circuit-miles of transmission lines
- 75% of electricity produced is clean renewable hydropower (2016)
Turner & Townsend and AMCL were commissioned with Reed & Associates to develop NYPA’s asset management framework based on the GFMAM 39 Subjects of Asset Management and ISO 55000.
We carried out an assessment of NYPA’s current approach against these internationally recognised standards, involving a team of four assessors interviewing more than 150 individuals at all NYPA sites.
Making the difference
The outcome helped establish the foundation for NYPA’s asset management framework and focused on establishing the key tenets of a strong approach. These include accurate data, a defined organisational structure and responsibilities, skilled resources, and enhanced awareness of asset management across the organisation.