Asset Management Framework

We have developed a comprehensive asset management framework, aligned with ISO 55001:2014, to guide our decision-making.

Our Grid Asset Management Policy states that Transpower is committed to asset management that ensures the national grid provides safe, reliable and cost-effective electricity transmission services for the benefit of all New Zealanders. To achieve this, the policy specifies we will:

  • Alignment – ensure that our asset management activities are aligned with Transpower’s strategic priorities and enable Transpower to meet its safety, people, customers, financial, relationships and sustainability performance targets.
  • Legislative compliance – ensure we comply with all relevant laws and regulations.
  • Customers and Stakeholders – consult with our customers and stakeholders on matters relating to the management of our network assets
  • Planning – ensure we apply good electricity engineering practice to our asset management activities.
  • Resources – ensure we assign enough resources (people and money) to deliver on our asset management obligations.
  • People – ensure our employees are trained, competent and demonstrate a commitment to and understanding of asset management.
  • Operation – ensure our network assets deliver the performance expected of the grid by our customers and stakeholders.
  • Improvement – ensure continual improvement of our asset management system through effective systems and setting measurable objectives and targets.

Our approach to asset management is outlined in our Strategic Asset Management Plan and our Grid Asset Management System Framework explains how we do asset management.

These documents strengthen the alignment between our overall objectives and our day-to-day asset management activities and further details of our Asset Management System can be found in our Asset Management Plan.