Aug 2016
Gas Transmission
Gas Transmission Network Output Methodology Analytics
NIA_NGGT0099
Complete
Aug 2016
Aug 2017
National Grid Gas Transmission
Tony Nixon, box.GT.innovation@nationalgrid.com
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Network Innovation Allowance
None
Gas Transmission Networks
£115,000.00
The current approach relies on a system which is specific to each asset group (of which there are five primary asset categories and 47 secondary asset categories). However the proposed approach will develop an asset management methodology based on converting multiple and varied risks associated with NGGT assets into a monetised value. The model will have to consider a range of variables including investment options, budget constraints, financial return and risk profile. The potential impact of any investment decision will assess failure, consequence and financial cost. The new approach will need to allow for a rapid analysis of multiple scenarios. Improved investment decisions will result in an efficient, effective and consistent approach to asset management at a known and managed level of risk.

The project objective is to pilot and select a monetised risk model (s) for trial on several asset categories. 

  1. Complete research and pilot of a suitable methodology on two asset types.

  2. Produce plan for the implementation new methodology.