Multicriteria Framework for Risk Assessment of Power Transformers

Abstract

Transformers are critical assets for power system reliability, as they connect different voltage levels across generation, transmission, and distribution. Their failure can lead to significant impacts on multiple aspects. Given the aging transformer fleet, supply chain challenges, and constrained investment capacity, the adoption of risk-based strategies is essential to support long-term maintenance planning and investment. This paper proposes a multicriteria framework to assess the probability and impact of transformer failure, enabling a more comprehensive and data-driven risk evaluation. The method was applied to a sample fleet, enabling the identification and prioritization of the most critical units through a risk plot. The framework enhances asset management by identifying critical units within a transformer fleet, promoting efficiency, reliability, and long-term planning based on objective risk indicators.