This technical report addresses risk indicators and their use in distribution system asset management. Risk indicators are needed in distribution system asset management for risk monitoring, control and decision making. The use of risk indicators in electricity distribution system decision making is especially emphasized in the report and illustrated by examples. The risk indicators might be categorized as follows:• Risk performance indicators giving historic risk performance information • Risk exposure indicators giving risk information with respect to different threats and uncertaintiesThe difference between performance and exposure is discussed in the report. A guideline for risk indicator development is proposed together with a check list to be used for risk indicator evaluation. The report also gives a proposal for a standard way of documenting risk indicators. To get a better knowledge of state-of-the-art concerning risk indicators and their use among utilities, a survey with responses from utilities in Norway, Finland and France is reported. The survey contains 96 indicators. A majority of the indicators reported relate to distribution system faults. 82% of the indicators have planning level relevance while 49% and 35% have strategic and operational relevance respectively.No universal indicators can be recommended. Selection of risk indicators is depending on the threats and the focus areas of the DNOs together with the legal, regulatory and contractual environment. Hence the risk indicators that would be useful for a specific utility will change over time.