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Cyber Resilience in the Electricity Ecosystem: Principles and Guidance for Boards

January 24, 2019

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.

Spotlight

Absolute Software

Absolute Software (NASDAQ: ABST) (TSX: ABST) is the only provider of self-healing, intelligent security solutions. Embedded in more than 600 million devices, Absolute is the only platform offering a permanent digital connection that intelligently and dynamically applies visibility, control and self-healing capabilities to endpoints, applications, and network connections - helping customers to strengthen cyber resilience against the escalating threat of ransomware and malicious attacks. Trusted by more than 18,000 customers, G2 recognized Absolute as a leader for the tenth consecutive quarter in the Summer 2022 Grid® Report for Endpoint Management and as a high performer in the G2 Grid Report for Zero Trust Networking.

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Cyber Resilience in the Electricity Ecosystem: Principles and Guidance for Boards