Overview
IEC TS 63224:2025 - Management of network assets in power systems (Management aspects) is a Technical Specification from IEC that frames asset management principles specifically for power network organizations. The document aligns with the clause structure of ISO 55001:2024, providing focused guidance, explanations, typical examples and case studies for transmission and distribution (T&D) companies and other power system operators. Where ISO 55001 requirements are generic, IEC TS 63224:2025 references them without duplication.
Key Topics
The specification addresses management-level topics essential to robust asset management in power systems, including:
- Context of the organization: understanding internal/external issues, stakeholder needs and defining the scope of the asset management system (AMS).
- Leadership: leadership commitment, asset management policy and roles/responsibilities.
- Planning: actions to address risks and opportunities, asset management objectives and Strategic Asset Management Plan (SAMP), and planning for change.
- Support: resource planning, competence, awareness, communication, documented information, and data and information management for network and asset-related records.
- Operation: operation planning and control, lifecycle management, control of change, and management of externally provided processes/services.
- Performance evaluation: monitoring, measurement, analysis, internal audit and management review.
- Improvement: continual improvement, nonconformity/corrective action and preventive/predictive actions.
The TS contains tables, illustrative case studies and an informative Annex A with further readings to help translate ISO 55001 concepts into the power network context.
Applications
IEC TS 63224:2025 is practical for organizations and roles involved in power network asset stewardship:
- Transmission and distribution (T&D) utilities implementing or maturing an Asset Management System (AMS)
- Asset managers and operational leaders defining asset management policy and SAMP
- Planners and engineers applying lifecycle and operation planning principles
- Regulators and consultants assessing organizational alignment with ISO 55001 in a power systems context
- Procurement and maintenance teams managing externally provided services and lifecycle interventions
Use cases include improving decision-making for renewals/replacements, aligning stakeholder expectations, formalizing competence and data practices, and establishing measurable performance and continuous improvement processes.
Related Standards
- ISO 55001:2024 - Asset management - Management systems - Requirements (primary structure referenced)
- Other IEC 63223 series documents (under development) that address technical and implementation aspects for network asset management
Keywords: IEC TS 63224:2025, management of network assets, asset management system, power systems, ISO 55001, SAMP, lifecycle management, T&D utilities, asset management policy.