Licence condition: asset management system
14 Licence condition: asset management system
It is a condition of every licence, other than a retail licence, that the licensee must —
provide for an asset management system in respect of the licensee’s assets; and
notify details of the system and any substantial changes to it to the Authority; and
not less than once in every period of 24 months (or any longer period that the Authority allows) calculated from the grant of the licence, provide the Authority with a report by an independent expert acceptable to the Authority as to the effectiveness of the system.
An asset management system is to set out measures that are to be taken by the licensee for the proper maintenance of assets used in the supply of electricity and in the operation of, and, where relevant, the construction of, any generating works, transmission system or distribution system.
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