Auto-calibration of mathematical asset models: Refflecting change of behavior of energy assets

Companies in field of electricity distribution and transmission recently deal with the need for decreasing cost of operation in terms of both capital and operational expenditures. They start to use statistically driven approaches of asset management to support these requirements in a way that reliability of the grid is being kept on the same level or even improved. However, the behavior of the assets is not the same in all times as both internal and external conditions change. This means that auto-calibration of models has to be applied to get the best results possible.