Classic preventive maintenance practices remain ingrained in the power industry culture in spite of the tremendous potential of predictive, condition-based, and reliability-centered alternatives. Condition-based, predictive maintenance has become significantly easier and more automated in recent years, and the cost to implement the practice is falling. Maintenance that is prioritized based on current asset conditions enables safer, more reliable operation and extends equipment life. Power companies today rely on increasingly sophisticated equipment components such as transformers, circuit breakers and switchgear that are vital to reliable operation. It is components like these that benefit most by using condition-based, reliability-centered strategies that are targeted, timely and effective, and more likely to prevent costly unplanned downtime.