Electricity Asset Management Plan 2019-2029
174
Vector Limited://
direct field staff, to repair, refurbish or replace components, replace entire asset, and for some assets refurbish entire asset off-site or refurbish oil in-situ. Maintenance frequencies are not stated in this Needs Statement.
TARGETED OUTCOMES
CUSTOMER EXPERIENCE
SAFETY
RELIABILITY
RESILIENCE
OPERATIONAL EFFICIENCY
CYBER SECURITY AND PRIVACY
OPTIONS CONSIDERED Options to address the need identified above have been assessed and are summarised in the following table.
DESCRIPTION
DISCUSSION OF OPTION
ESTIMATED COST (NPV IF APPLICABLE)
STATUS
Option 1: Business as usual – do not increase the investment in maintenance
Our service levels and reliability indices show that a number of performance issues are developing within our asset base that requires Vector to take a different approach and/or additional programmes of maintenance to prevent service level gaps from deteriorating any further. A business as usual approach will simply not suffice going forward Corrective maintenance must be increased and adapted to increase works volumes to target the root causes of the identified service level gaps and to undertake additional and alternative maintenance initiatives to address the increasing number of open, high risk actions. This is needed address the existing service level gaps and correct performance to re-establish and maintain the expected service level
Rejected
Option 2: Alter our maintenance practices and undertake additional proactive investment
$982.37M Selected
PROPOSED INVESTMENT SUMMARY ($MILLION NOMINAL) Our operational expenditure as per the investment summary below is a combination of core maintenance, i.e. all FSP reactive, planned and corrective maintenance activities, management of strategic spares, storage. It also contains non- core maintenance activities relating to exceptional and extreme network events, specialist contractor or extraordinary maintenance activities over and above that provisioned through core maintenance services. It also includes all reactive, planned and corrective work associated with the Penrose-Hobson tunnel and covers cost recovery associated with reactive third party damage activity.
MAINTENANCE CAPEX
DESCRIPTION
FY20
FY21
FY22
FY23
FY24
FY25
FY26
FY27
FY28
FY29 TOTAL
Corrective maintenance (CAPEX)
34.00
34.00
34.00
34.00
33.16
33.02
32.78
32.34
33.19
33.59
334.08
Reactive maintenance (CAPEX)
16.27
16.43
16.60
16.77
16.94
17.12
17.29
17.47
17.65
17.83
170.37
Total CAPEX
50.27
50.43
50.60
50.77
50.10
50.14
50.07
49.81
50.84
51.42
504.45
MAINTENANCE OPEX
DESCRIPTION
FY20
FY21
FY22
FY23
FY24
FY25
FY26
FY27
FY28
FY29 TOTAL
Planned maintenance (OPEX)
16.48
17.27
17.49
18.58
22.73
22.92
18.07
18.02
18.11
18.24
187.91
Corrective maintenance (OPEX)
12.64
13.42
13.56
13.7
13.84
13.79
13.64
13.77
13.91
14.06
136.33
Reactive maintenance (OPEX)
13.90
13.53
13.65
13.78
13.91
14.04
14.17
14.29
14.43
14.55
140.25
Total OPEX
43.02
44.22
44.70
46.06
50.48
50.75
45.88
46.08
46.45
46.85
464.49
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