asset management in utilities

Asset management in utilities involves systematically overseeing infrastructure and equipment—like power lines, water pipes, and treatment plants—to ensure reliable service, optimize performance, and control costs. It includes planning for maintenance, upgrades, and replacements based on data and risk assessments, aiming to extend asset lifespan and prevent failures. Effective asset management balances investment with service quality, helping utilities deliver consistent, affordable, and sustainable utilities to consumers while managing financial and operational risks.