IEC 61850 is a powerful standard – also for describing the exchange of Power Quality Information.
IEC 61850 has been extended to support many advanced power quality applications like those defined in IEC 61000-4-30 and EN 50160. IEC 61850-7-4 Edition 2 defines logical nodes, that support modeling and configuring event sequencing with additional quality reporting and waveform recording.
Excerpt of logical nodes for power quality:
- Harmonics (MHAI)
 - Flicker (MFLK)
 - Imbalanced power calculations (MADV)
 - Frequency variation (QFVR)
 - Current transient (QITR)
 - Current unbalance variation (QUIB)
 - Voltage transient (QVTR)
 - Voltage unbalance variation (QVUB) and
 - Voltage variation (QVVR).
 
Click HERE for a nice summary published by Schneider Electric.    
Click HERE for a draft list of Logical Nodes for Power Quality (this content was used as input to the development of IEC 61850-5 Edition 2 and IEC 61850-7-4 Edition 2).

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