For the first time, a Canadian utility has received ISO55001:2014 certification for best practices in asset management from the International Organization for Standardization (ISO), based in Geneva, Switzerland. Hydro Ottawa is one of only three other North American electric utilities that have received this distinction, including the New York Power Authority.
With an independent non-governmental global network of national standards institutes from each of its 165 member countries, including the Standards Council of Canada, the Independent Organization for Standardization brings together experts to share knowledge and develop voluntary, consensus-based, market-relevant international standards that support innovation and provide solutions to global challenges.
With ISO55001:2014 accreditation, Hydro Ottawa and its customers benefit from:
- Enhanced risk management (with better predictability to future performance of our assets);
- Trust and confidence of investors and stakeholders;
- Reduced capital and operational costs;
- A set framework for dealing with subcontractors; and
- A safer environment (for customers, employees and the assets themselves).
The certification can only be attained through a rigorous independent audit and is based on current industry best practices.
- Hydro Ottawa holds two other ISO certifications, including ISO14001:2015 for environmental management and ISO9001:2015 for quality management systems.
- ISO55001:2014 certification signifies superior asset management practices that demonstrate Hydro Ottawa's ability to achieve a number of important operational, environmental and financial goals for the betterment of its customers and community.
- Hydro Ottawa's Asset Management Council works to improve communications across the organization around asset health, risk assessments, growth opportunities and system constraints and performance.
- A Risk Register was also established to track known risks within the system, and what control actions are being implemented to mitigate them.
- Studies of Hydro Ottawa pole lines and underground cables help inform recommended replacements to avoid failures, while weekly tracking of outages caused by tree contact influences the company's maintenance schedule.
- ISO standards cover almost every subject imaginable, from technical solutions to systems that organize processes and procedures.
- To date, ISO has developed more than 23,300 standards in the fields of technology, energy management, social responsibility, information security, environmental management, and many more.
- International standards are designed to tackle a wide range of global issues through innovation and best practices, and are aligned in concert to directly address the United Nations (UN) 17 Sustainable Development Goals.
SOURCE: Hydro Ottawa Holding Inc.