Optimization Strategy for Power Plant Asset Management Using Reliability Analysis and Life Cycle Cost: Case Study of Steam-Dominated Geothermal Power Plant Unit 1 at PT RST

Abstract

PT RST is one of the largest power generation companies in Southeast Asia, with a total capacity of 21.08 GW. One of its units, the Steam-Dominated Geothermal Power Plant Unit 1, has been operating for over 40 years, presenting increasing challenges in maintaining reliability and cost efficiency. The aging condition of critical equipment in this facility necessitates a strategic asset management approach to support informed decision-making in maintenance and replacement planning.

This study integrates reliability analysis with economic life assessment to develop an optimized strategy for equipment replacement. The Equivalent Uniform Annual Cost (EUAC) is used to determine the most economical service life of each equipment unit, while the reliability index is calculated using a Weibull-based Non-Homogeneous Poisson Process (NHPP) model via AeROS software. Key input variables include equipment failure history, repair time, downtime, acquisition cost, and operation and maintenance (O&M) costs.

By combining cost and reliability indicators, a structured equipment replacement strategy is formulated, classifying assets into four categories: retain, prepare for replacement, immediate analysis required, and further evaluation. This integrated approach supports data-driven asset management decisions and contributes to improved performance and reduced electricity production costs at Steam-Dominated Geothermal Power Plant Unit 1