As an insurance executive, you understand the importance of risk management and mitigation. In the power distribution industry, utilities face a significant risk of power outages, which can cost US businesses $150 billion annually. However, with the rising volume and complexity of data, utilities are increasingly relying on advanced distribution management systems (ADMS) to help make order out of chaos.

According to Gartner, an ADMS is a software platform that “supports the full suite of distribution management and optimization, including functions that accelerate power outage restoration and optimize the performance of the distribution grid.” In a recent article by Vikhyat Chaudhry, published on TD World, he explains how an ADMS can revolutionize outage management in the utility sector.

Here are a few ways an ADMS can help utilities improve modeling and forecasting capabilities, and serve as a launchpad for future digital transformation:

1. Predictive Maintenance An ADMS can collect and analyze grid data in real-time, creating a comprehensive view of current conditions and monitoring for any anomalies that could indicate asset failures. By utilizing historical data and predictive analytics, utilities can identify potential issues before they become major problems, allowing for proactive maintenance and minimizing disruptions.

2. End-to-End Control ADMS provides utilities with end-to-end control of their electric distribution network, integrating predictive analytics and real-time data capabilities that can help minimize disruptions and mitigate outages. This automation reduces the need for reactive, manual intervention, which is resource-intensive, time-consuming, and expensive.

3. Integration with DERMS As utilities integrate distributed energy resources (DERs) into their systems, they need a way to monitor and control these systems across markets. DERMS (distributed energy resource management systems) provide this capability, and ADMS can integrate with DERMS to provide a comprehensive view of the entire system.

4. Improved Modeling and Forecasting ADMS can help utilities improve their modeling and forecasting capabilities, allowing them to better predict demand and optimize their distribution grid. This can help utilities offset their load demand and reduce strain on the grid.

As demand for power continues to surge across the country, utilities face a significant challenge in managing their distribution grid. However, with the help of ADMS, utilities can revolutionize their outage management and improve their overall performance. At Riskwolf, we enable insurers to build and operate parametric insurance at scale, using unique real-time data and dynamic risk modeling. Contact us today to learn more about how we can help you manage your risk.

Source: Predictive Restoration: Leveraging an ADMS for Enhanced Outage Management