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Risk Assessment of Failures in SEs and Equipment

 The failures in substation equipment gain a greater weight in the variable portion scenario, where the cost associated with the loss of an equipment can significantly exceed the cost of its repair or even its replacement. As the occurrences of electrical system failure are reduced, conventional statistical methods are difficult to apply and more appropriate methodologies need to be developed. Equipment risk and substation risk calculation programs are important tools for maintenance planning and thus for the management of business assets.