Estimation of Individual Failure Rates for Power System Components Based on Risk Functions.

The failure rate is essential in power system reliability assessment and thus far, it has been commonly assumed as constant. This is a basic approach that delivers reasonable results. However, this approach neglects the heterogeneity in component populations, which has a negative impact on the accuracy of the failure rate. This paper proposes a method based on risk functions, which describes the risk behavior of condition measurements over time, to compute individual failure rates within populations. The method is applied to a population of 12 power transformers on transmission level. The computed individual failure rates depict the impact of maintenance and that power transformers with long operation times have a higher failure rate. Moreover, this paper presents a procedure based on the proposed approach to forecast failure rates. Finally, the individual failure rates are calculated over a specified prediction horizon and depicted with a 95% confidence interval. [ABSTRACT FROM AUTHOR]