The gas distribution industry around the world is facing increased expectations from regulatory authorities for detailed quantitative risk scores to assist in justifying regulatory submissions. A recent client of DNV GL required a tool for quantifying the risk of all mains, whether plastic or metallic, and to also go a step further and monetize the risk scores.
With an added goal to improve the efficiency of mains replacement prioritization programs and make them more transparent, DNV GL built a quantitative plastic risk model in Synergi Pipeline that leveraged a probabilistic approach of calculating the remaining life of each plastic pipe.
This output was calibrated with a metallic risk model already in use in the industry to ensure a common risk unit across material types. These risk values were mapped to a deterministic estimate of the risk score in dollars per year to allow the dollars spent to be directly comparable to the risk dollars saved.
By watching this video, you will gain a better understanding of DNV GL’s approach for monetising risk for all gas mains whether metallic or plastic.