The New York Power Authority (NYPA) has become the first electric utility in North America to achieve a coveted international certification for meeting the most rigorous asset management standards, NYPA said on Sept. 25.
A ceremony recognizing the accomplishment took place on Sept. 25. EA Technology Ltd. CEO Robert Davis presented the certificate to the NYPA’s leadership and Board of Trustees at its regularly scheduled meeting at NYPA’s White Plains office. EA Technology was NYPA’s auditor for the certification.
NYPA noted that the International Organization for Standardization (ISO) issues globally recognized requirements that are considered the gold standard for compliance with best practices in the utility industry for asset management, known as ISO55001: 2014. The Institute of Asset Management endorses organizations to assess against the ISO criteria.
NYPA said its path to ISO55001 certification began following the publication of the organization’s first comprehensive Strategic Plan, approved by NYPA’s Board of Trustees in 2014, which identified asset management as one of its key strategic initiatives. Following a five-month assessment and audit, NYPA achieved the certification in August.
NYPA said that the rigorous certification process required NYPA’s internal asset management practices to comply with the ISO55001 standards and be subject to an independent audit -- in this case, EA Technology in conjunction with consulting firm Burns & McDonnell.
The two-stage audit evaluated NYPA’s policies, processes and procedures and evidence that the asset management system is implemented in actual operations. It also looked at how policies and procedures were being followed on a day-to-day basis, in such areas as maintenance, risk response, emergency preparedness, safety protocols, training and communications.
“We’re proud to be the first electric utility in North America to achieve compliance with this international standard because it shows we are making quality, long-term decisions daily that directly benefit our customers and the residents of New York,” said Gil Quiniones, NYPA CEO and president.
He said that the designation “demonstrates that optimal asset management is interwoven in our work culture DNA and strategic plan. It is extremely satisfying to have validation from internationally recognized experts that our hard work is paying off.”
NYPA said its assets “include the people, equipment, systems and infrastructure that allow for the effective operation of its 16 power plants, including its flagship hydroelectric projects on the Niagara and St. Lawrence rivers, and its 1,400 circuit miles of high-voltage transmission lines.” NYPA provides up to one-quarter of the electricity in New York.