Grid Assurance Awards Contracts, Will Provide Service by Year-end

KANSAS CITY, Mo., Oct. 22, 2019 /PRNewswire/ -- Grid Assurance has awarded contracts to purchase high-voltage transformers, circuit breakers and other critical equipment to enable subscribing utility companies to better respond to natural or man-made events impacting the energy transmission system. The equipment will be accessible by the end of 2019.

Grid Assurance provides subscribing transmission owners immediate access to equipment that historically could take manufacturers 12 to 18 months to deliver. These critical, long lead-time assets will be stored in secure warehouses until needed by companies. The inventory access, secure storage and logistics plans will allow subscribing utilities to more quickly respond to high impact, low frequency transmission grid events.

"As we move forward with procuring supplies of critical equipment to help speed recovery in events that impact the grid, we've worked closely with our customers and suppliers to ensure cost-effective pooling of this equipment," said Grid Assurance Chief Executive Officer Michael Deggendorf. "More than 50% of the equipment will be supplied from North American manufacturers, which further enhances our ability to restock from secure sources."

As part of a robust plan for disaster recovery for subscribing utilities, Grid Assurance is working with key logistics providers to arrange for delivery during catastrophic events. Having accessible equipment with known specifications and dimensions located in designated warehouses will expedite a utility's ability to recover fully from a catastrophic transmission grid disruption.

"Our customers are making grid resiliency a priority by ensuring they have these integral transmission assets at their disposal," Deggendorf said. "With threats to the bulk system rising, utilities having a contingency plan like the kind Grid Assurance offers is essential to ensuring they can more quickly restore service for their customers."

In 2016, six energy companies formed Grid Assurance to create a proactive, industry-led solution to mitigate physical and cyber security risks to the transmission grid. Qualifying events include physical attacks, cyberattacks, electromagnetic pulses, catastrophic events, solar storms, earthquakes and severe weather events. Grid Assurance's services complement transmission owners' existing programs and established industry initiatives. Visit gridassurance.com to learn more.

Grid Assurance: Affiliates of American Electric Power, Berkshire Hathaway Energy and FirstEnergy are current owner companies of Grid Assurance™, a limited liability company that offers cost-effective solutions for enhancing transmission system grid resilience and faster access to critical transmission equipment following a catastrophic event.

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SOURCE Grid Assurance