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Change in customers' consumption patterns due to the introduction of new electricity consuming technologies into human consumption practices has impacted the existing optimal loading profile of the grid facilities. Although some MV/LV distribution transformers (DTs) are operating under a light load profile, this does not guarantee that they are in a healthy condition, since necessary maintenance procedures are required. On the other hand, many unplanned overloading conditions occur on the other DTs and causes accelerated failures which contributes to very high operational costs. This paper presents the outcome of a study on how the planned DTs relocation can save asset managers against their huge DTs replacement costs developed due to the highly overloaded DTs failures in a utility, and how it will improve the overall reliability of the DTs. A mixed-integer linear programming (MILP) solution is proposed to formulate the introduced economic relocation-based asset management (AM) framework while minimizing total cost (TC) of the network. The results show that incorporating relocation techniques into the AM formulation ends in reduction of the distribution network TC and a decrease in asset failure rates if compared with application of traditional techniques. [ABSTRACT FROM AUTHOR]