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Additional info for IEEE Recommended Practice for the Design of Reliable Industrial and Commercial Power Systems
The bare bus failure rate was significantly higher and the insulated bus failure rate lower in the 1979 survey than in the 1974 survey. A comparison of the median downtime per failure in both surveys revealed no significant differences. , the data in these surveys should be viewed as general information. Some important additional observations based on the 1979 survey are as follows: a) Newer bus appears to experience a higher failure rate than older bus. , but is not completely consistent with the observation that failure rates are highly dependent on maintenance.
Both F and e are attributed to scheduled electrical preventive maintenance, insurance, property taxes, etc. Since the yearly average costs for scheduled electrical preventive maintenance may not be the same percentage of investment for every component within the industrial power system, a separate, more detailed look is often taken at these costs for each component. Scheduled electrical preventive maintenance has two major cost elements: labor effort and spare parts consumed. These costs are often expressed on an average yearly basis so as to be usable with the RR method when an economic evaluation is made.
These results can be expected since this is probability, but in a specific case, there might be two failures in one 10-year period and no failures in another 10-year period. 1 failure per year, with each failure costing an average of $235 000. This gives an equal average amount per year in the above example of $23 500. The point is that even though the actual failures cost $235 000 each and occur once every 10 years, a given failure is just as likely to occur in any of the 10 years. The equivalent equal annual amount of $23 500 per year is the average value of one failure in 10 years.