Abstract
Real-time online monitoring system and its analytics system for substation equipment is an important element of smart grid technology. However, proposals to invest in real-time online monitoring system are often turned down by the decision-maker due to the lack of economic model which act as a qualifier that determines whether the investment is worthwhile for the company and nation. In this paper, by deploying risk quantification methodology, visualized through decision tree structures, we propose that the investment of a sophisticated system for substation monitoring is dependent on customer segment profile and the condition of equipment. We present several scenarios that depict our argument on this matter.
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