IEC White Paper Asset Management:2015

Worldwide, the electricity industry is facing a number of very significant challenges, and the first of these, listed by many electricity network business CEOs, is asset management. While power networks in developed nations struggle with an equipment base nearing the end of its lifetime, those in developing countries wrestle with trying to identify best-practice examples to model their operations on. This is taking place against a background of changing regulatory environments, climate change, evolving consumer behaviour and new market dynamics. The current lack of International Standards or guidelines on asset management for electrical networks will have a significant impact on the reliability and future viability of the electricity sector. This White Paper explores this issue in depth. It examines asset management in the electricity power network sector and identifies areas of asset management practice that could benefit from International Standards. This White Paper was prepared by the IEC Market Strategy Board (MSB) project team on strategic asset management of power networks with support from N.OGEE Consultants after extensive industry consultation. Three international workshops, held around the world, were attended by electricity network businesses, equipment manufacturers, research institutions and other standards organizations. This IEC White Paper is available for free download.