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Cybersecurity Report, Utilities Technology Report

Cybersecurity in Utilities - Thematic Research

Investment in cybersecurity will remain a top priority for utility IT departments.

It is imperative for providers of essential services to keep cybersecurity threats front-of-mind, a concern that has been present for decades. The number of attacks targeting utilities is growing due to the increasingly interconnected nature of their infrastructure systems.

There are many new technologies being explored and implemented in the sector, such as Internet of Things, which will open up utilities’ systems to the connected world. Sensors, smart meters, electric vehicles, solar and wind technologies are just some of the targets appealing to cybercriminals in the sector. And these attacks could result in power or water outages, damage to critical transmission or environmental hazards caused by infrastructure failures.

GlobalData’s Cybersecurity in Utilities report discusses this in extensive detail and is an essential tool to prepare Senior Executives and inform them of the risks and implications.

  • What you need to know...
  • Utilities companies in the UK face fines of up to £17million if they neglect cybersecurity.
  • Renewable energy companies are at extremely high risk of cyberattacks.
  • In 2015, hackers successfully shut down dozens of substations on the Ukranian electricity grid, causing power cuts for an estimated 225,000 users for several hours.
  • The US Department of Energy has revealed plans to conduct a ‘hands-on’ test of the consequences of cyber attacks against the energy sector.

As the grid becomes smarter, it becomes more vulnerable to cyberattacks.

As a result of cyberattacks, critical infrastructure systems can become compromised and expose private data.

GlobalData’s Cybersecurity in Utilities report states that energy networks have been gradually transforming into smart grids over the past few years.

The increased connectivity is helping optimise energy reliability, however it has also heightened vulnerability to cyber attacks as the whole system is dependant on the security of their operators and millions of electronic devices linked to critical power facilities.

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