EDIST 2024

Highlights from Acumen’s attendance at EDIST 2024 and our presentation on Project Prioritization using a Strategic Asset Management Plan.

EDIST 2024

As every year, Acumen was pleased to be at EDIST 2024 this past week. It is one of a handful of conferences where Acumen decides to have a booth presence each year! The reason is simple – it is an excellent gathering of leaders from Ontario’s utility sector – both Local Distribution Companies and Vendors from the industry are well represented, allowing for plenty of great conversations.

This year was even more special, as we had Nimish Bhatnagar, our Director for Energy Solutions, co-present alongside Mike Weatherbee, Managing Director, Oshawa Power on the topic of Asset Management. This talk is a direct result of our work with Oshawa Power in helping them create a Strategic Asset Management Plan (SAMP) and use it to prioritize projects. Overall, the conference not only provided a platform for knowledge exchange but also served as a fruitful ground for networking and forging valuable partnerships.

The conference provided an ideal platform to strengthen existing client relationships and cultivate new ones. Engaging with clients at our booth allowed us to highlight our expertise and discuss how our solutions align with their evolving needs. Face-to-face interactions prove invaluable in understanding the challenges our clients face and tailoring our services to meet those challenges head-on.

One of the highlights of the conference was the opportunity to cement partnerships with other forward-thinking firms in the utility sector. Collaborations formed during the conference promise to bring about synergies that will drive innovation and contribute to the advancement of electrical distribution utilities. These partnerships underscore the collaborative spirit that defines our industry.

Acumen + Oshawa Power Presentation

Mike and Nimish’s presentation was very well received. Mike spoke on why Oshawa Power walked down the path of creating a SAMP, including the need to tie asset management with their mission and vision statements, the evolving role of utilities in an energy transition future, and the need for optimal risk-based investments. He also touched upon the key features of the SAMP that Acumen has helped them draft, including Lifecyle Management, Risk Management, Asset Inventory and Condition Assessment, Investment Planning and Regulatory Compliance. Acumen has provided Oshawa Power with a roadmap for implementing the SAMP, which includes creating a cross functional team, building a data management strategy, investing in technology, and capacity building. Nimish then took the stage to speak on the application aspect of Oshawa Power’s SAMP – project prioritization using a risk-based methodology that minimizes risk to the utility’s business values, as recognized in their SAMP. After walking the audience through the formulation of the risk matrix and risk score, Nimish tied it all up by showing snapshots of Acumen’s project prioritization tool, which is being implemented by Oshawa Power. He illustrated specific examples that highlighted the pivotal role of a SAMP and the associated tool in making smart investment choices in Asset Management for distribution utilities.

Missed the presentation? Grab a copy below 👇

Stay tuned for detailed blog posts on the topic of Asset Management and SAMP from Nimish on our website.

In closing

EDIST 2024 was not just a gathering of professionals; it was a dynamic forum where ideas were shared, partnerships were forged, and the path to the future of electrical distribution utilities in Ontario and beyond was discussed. As our team returns, we carry with us the inspiration and insights gained from this exceptional event, ready to apply them in our commitment to advancing the industry and meeting the evolving needs of our clients. We look forward to continued collaboration with our clients and partners to shape the future of electrical distribution utilities.