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Critical energy infrastructure at risk from boardroom disconnect new research finds
New research released by MIDEL reveals a potential disconnect between the industry professionals that operate transformers and the boards to which they report.
MIDEL
New research released by MIDEL reveals a potential disconnect between the industry professionals that operate transformers and the boards to which they report.
The findings reveal that while safety is perceived to be a top boardroom concern, many engineers lack confidence in their senior management team’s ability to properly mitigate transformer-related risk. Yet despite the significant risk of failure and its consequences, 44 % of respondents are uncertain about how well equipped their senior management teams are to understand or plan for transformer-related risk.
As the world’s transformer fleet ages, and more demands are placed upon them by continued electrification, transformers are increasingly at risk from maintenance issues, overloading and winding failure. Indeed, six in ten respondents said that they had experienced transformer failure in the past five years.
Further, when asked about mitigating transformer-related risk, only 44 % of respondents received approval for all of their recent recommendations. Of those that found it difficult to have changes approved, 56 % cited cost as the main barrier to upgrades.
Moreover, while nearly half of respondents (47 %) consider environmental impact important when assessing transformer risk, fewer respondents (38 %) perceive that their senior management team consider it important.
The disconnect could be unduly increasing the risk of failure, fatality or fire posed by transformers.
The survey, which attracted responses from transmission and distribution operators, original equipment manufacturers, and commercial and industrial operators across EMEA, the Americas and APAC, aims to enhance decision maker’s understanding of transformer-related risk. The report assesses key concerns and risk mitigation trends as well as garnering opinion on decision maker awareness and priorities.