A significant portion of YEC’s existing generation and transmission assets are approaching end-of-life and require refurbishment and/or replacement. Given the significant investment required to sustain YEC’s existing asset base (~$50 million over the next 5 years), YEC has recognized that a holistic approach to asset management is required to ensure that the expected life of the assets are realized or exceeded for the benefit of the ratepayer.
The majority of YEC’s key generation and transmission assets were constructed in the 1950’s (Mayo Hydro, Whitehorse Hydro) and the 1970’s (Aishihik Hydro; Whitehorse-Aishihik-Faro transmission system). These assets remain critical to YEC’s operations but are approaching end-of-life and require refurbishment and/or replacement. YEC has recognized that it will need to demonstrate that the Corporation is following industry best practices to assess the condition of its assets, identify required maintenance and replacement investments, and optimize these investments from both a condition and risk perspective.
The overall goal of this project is to develop and implement systems which will allow YEC to make evidence-based investment decisions over the entire asset life cycle, considering risk, criticality, and the changing condition of each asset over time.
The primary objective of the Work is the development of documented and approved processes and procedures necessary for the implementation a formal Physical Asset Management Managed System (PAMMS) at YEC, bringing the corporation’s practices in line with the ISO 55000 standard.
