Six in 10 respondents had experienced transformer failure in the last five years, and five in 10 said transformer failure would significantly impact or halt their business operations.
This failure puts business continuity at risk, according to the study“Transformers are critical components of our electricity infrastructure, but the impact and extent of transformer failure is not widely documented,” says Barry Menzies, managing director global of MIDEL.
“The MIDEL Transformer Risk Report shines a light on transformer failure and the findings are clear: it has a significant and prolonged impact on businesses. An interruption to business operations can be very expensive, demonstrate poor corporate social responsibility and impact business continuity.“
The good news, however, is that many of the causes of transformer failure are largely within the operators’ control, he says.