What we do

Asset-intensive companies demand predictable production at the lowest sustainable cost, starting with a clear picture of an enterprise’s overall asset health.   Using intelligent asset strategies, Meridium’s Asset Performance Management (APM) software and solutions can help your organization reduce operating risk and improve reliability by predicting and preventing asset failures. 

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Clients
Xcel Energy Uses Meridium to Transform Asset Data into Meaningful Information Driving Business Decisions

Xcel Energy is a combination utility serving 3.4 million electric customers and 1.9 million natural gas customers in eight states stretching from points farthest north and south. The company uses roughly 1800 different information technology platforms.

Challenges

The global power industry is facing many challenges including meeting increased demand while keeping costs low, increased environmental and safety regulations, and an aging infrastructure and workforce. Xcel identified the competitive advantages associated with using Meridium to easily capture, analyze, and compare all their asset data to quickly pinpoint areas for immediate improvement.

While Xcel Energy was proficient in the collection of data, the meaning of the data — uncovering the valuable informational aspect it had to offer — was often lost locally in one of the thousands of isolated data areas. Globally, the meaning of the data remained hidden and unavailable for consideration when making important business decisions.

Solution

Using Meridium, Xcel consolidates data from the company's multiple data sources — MAXIMO work order data, operating data (GADS), fuel consumption, real-time replacement costs, boiler tube failure, equipment inspections and plant root cause analysis — and through rigorous analysis transforms this data into information driving asset performance decisions. In one month, over 150 people were trained and able to drill down into individual site business data to identify outliers, spot common trends and determine the sources of problems tying cost to unavailability (UOR) events. Using Meridium's drill down capabilities, employees across the organization are now able to visually see the return-on-investment associated with good data, driving work order data quality improvement efforts.

Results

Using Meridium, Xcel has transformed their asset data into information enabling:

  • Improved PM practices
  • Improved availability
  • More efficient use of funds
  • More accurate unit modeling
  • Ability to track maintenance improvements
  • Visibility into plant operational performance data
  • Improved data quality