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Cyber Resilience in the Electricity Ecosystem: Principles and Guidance for Boards
Cyber risk is business risk. In the electricity industry, cyber risk is also an ecosystem-wide risk. Cyber resilience is a challenge for all organizations, but it is of particular importance for the electricity ecosystem. A large-scale blackout would have socioeconomic ramifications for households, businesses and vital institutions.1 For example, a six-hour winter black-out in mainland France could result in damages totalling over €1.5 billion ($.1.7 billion).2 Traditionally, managing this risk has meant dealing with issues such as component failure or inclement weather via robust mitigation and recovery plans. Today, however, existing resilience plans in electricity delivery must integrate a carefully designed cyber resilience strategy3.
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