Power plant maintenance costs can be reduced by choosing an optimal time for a revision.

Problem

Predictive Maintenance

Algorithm

Time Series Optimazation

Technology

Matlab

Electricity moves our lives. It assists us in everything, from tooth brushing to space exploration. To make sure electricity is always available, all power plants need to be revised systematically. During the revision time, turbines can not operate and electricity can not be produced. Hence each maintenance implies a loss, not rarely reaching millions of dollars.

The challenge was to build a model suggesting optimal timeslots for power plant maintenance. Using the forecasts of electicity prices, the algorithm looks for the periods within the year in which quotes are the lowest. Performing revision in this period would significantly limit monetary losses for the energy producer, while preserving the security of energy system.

Optimizing Maintenance Schedule

Power plant maintenance costs can be reduced by
choosing an optimal time for a revision.

Electricity moves our lives. It assists us in everything, from tooth brushing to space exploration. To make sure electricity is always available, all power plants need to be revised systematically. During the revision time, turbines can not operate and electricity can not be produced. Hence each maintenance implies a loss, not rarely reaching millions of dollars.

The challenge was to build a model suggesting optimal timeslots for power plant maintenance. Using the forecasts of electicity prices, the algorithm looks for the periods within the year in which quotes are the lowest. Performing revision in this period would significantly limit monetary losses for the energy producer, while preserving the security of energy system.

Problem

Predictive Maintenance

Algorithm

Time Series Optimisation

Technology

Matlab