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The Energy and Utilities sector is undergoing rapid transformation, driven by decarbonization goals, changing consumer demands and technological advancements.
The US FERC and NERC published a study on cyber incident response at electric utilities that also includes recovery best practices. Federal Energy Regulatory Commission (FERC) and the North American Electricity Reliability Corporation (NERC) released a study on cyber incident response and recovery best practices for electric utilities.
The JCDC has seen the benefits of collaboration for exigent risks (such as the heightened awareness and protection related to Russia’s invasion of Ukraine and the Log4Shell vulnerability) but sees a remaining gap when it comes to imminent risk. To address this gap, the JCDC is planning proactive measures for future cyber risks.
Nuclear Plants, Utilities, and Oil and Gas Firms Allegedly Targeted by Hackers The U.S. Department of Justice unsealed two indictments against suspected Russian nation-state actors on conspiracy charges for attacks on the global energy sector.
A DoS attack that caused disruptions at a power utility in the United States exploited a flaw in a firewall used in the facility. In May, the Department of Energy confirmed that on March 5, 2019, between 9 a.m. a cyber event disrupted energy grid operations in California, Wyoming, and Utah. and 7 p.m., and 7 p.m.,
Utility Vendors Have Cut Back on Buying Chinese Transformers Due to Security RisksUtility companies have increasingly refrained from purchasing large power transformers from China given greater awareness of the security risks.
The energy and resources sector including utilities, oil and gas, chemicals, and metals & mining is one of the most hazardous in the world. Improved safety performance and reduction of risk are just two examples of business outcomes companies strive to improve upon across this sector.
The energy and resources sector is undergoing a profound transformation driven by the global push toward sustainability, energy technological advancements, geopolitical risks, and increasing regulatory pressures in some areas of the world. Every digital fabric has horizontal and vertical digital threads.
Real-Life Examples of Spear-Phishing Attacks in the Energy Production Sector. The threat of spear-phishing for energy companies is, unfortunately, not a theoretical one. Downloading them infected a user’s system with a type of trojan spyware not previously seen in other utilities industry cyberattacks. Not a New Concern.
2️ Cyber Attacks Against Energy (Oil & Gas) and Nuclear Sectors Critical infrastructure across all domains continues to remain a focal point for cyber-attacks, orchestrated by both cybercriminal elements and nation-state actors.
The Italian energy sector appears to be under attack, over the weekend, Italy’s energy agency Gestore dei Servizi Energetici SpA was hit by a cyber attack. Ransomware is a type of malware that locks computers and blocks access to files in lieu of a payment. It’s not clear who was responsible for the breach.
London, July 13, 2023 — Beazley, the leading specialist insurer, today published its latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. Yet, boardroom focus on cyber risk appears to be diminishing. trillion by 2025, a 300% increase since 2015 1.
1 The ratio between man and machine All industries use machines, yet the energy and resources sector including utilities , oil and gas , chemicals , and metals & mining industries is the most capital intensive. trillion of annual capital investment is made in the energy industry today and by some estimates will grow to $9.2
For years, potential creditors have judged the relative risk of extending credit to consumers based in part on the applicant’s credit score — the most widely used being the score developed by FICO , previously known as Fair Isaac Corporation. Data accidentally released by FICO about the Cyber Risk Score for ExxonMobil.
Data Encryption Shields the Energy Sector Against Emerging Threats. The energy sector is part of the critical national infrastructure (CNI), and delivers services that are essential for modern life. Energy services companies are a lucrative target for adversaries. Wed, 01/13/2021 - 09:42. Cybersecurity challenges. A recent U.S.
For the energy and utilities industry (E&U), time is not on their side. Facts about the energy and utilities industry Transformer prices have doubled, while the average lead time for delivery has at least tripled from what it was two years earlier, reaching 52 weeks in some cases. Visibility.
New developments in renewable energy are making headlines and inspiring hope in communities worldwide, from a remote Arctic village working to harness solar and wind power under challenging conditions to a U.S. Air Force base planning an advanced, utility-scale geothermal power system. Let’s take a look at both.
Cybersecurity in utilities: Critical questions for securing distributed energy resources (DERs). The energy transition is driving a shift toward the increasing use of distributed energy resources (DERs). From a cybersecurity perspective, DERs pose new and unique challenges for utilities. Mon, 06/17/2019 - 05:09.
Worldwide demand for energy is growing faster than ever, leading to rapid changes in the energy industry and in the wider world beyond. Deloitte predicts companies in the oil and gas sector in 2020 will be “walking the tightrope,” and need to keep vigilant for both risks and opportunities.
That pace is unlikely to slow down over the coming years; Pagely noted that organizations are still turning to IoT devices as a way to automate and optimize their business processes as well as save on energy costs. The issue is that these tens of billions of new devices will likely amplify the inherent security risks of IoT.
Another vulnerability is related to the use of a vulnerable version of the rssh utility in these products to facilitate file uploads. and below, Valleylab FT10 Energy Platform (VLFT10GEN) software version 4.0.0 and below, and Valleylab FX8 Energy Platform (VLFX8GEN) software version 1.1.0 and lower and version 2.0.3
“InfraGard connects critical infrastructure owners, operators, and stakeholders with the FBI to provide education, networking, and information-sharing on security threats and risks,” the FBI’s InfraGard fact sheet reads.
Balancing speed and stability to reinvent utility operations for the energy transition. The COVID-19 pandemic has underscored our need for a reliable energy supply, which is something we typically take for granted. Today, utilities must respond to rapidly changing demand profiles caused by stay-at-home orders.
Consumers and organizations are enthused about the operational benefits of more robust mobile connectivity, but the shift to 5G networks doesn’t come without risks. Here we’ll discuss the most significant risks posed by 5G, how U.S. Table of Contents What Are the Cybersecurity Risks of 5G? How is 5G Different?
Although none of the violations resulted in any reported outages, NERC concluded that the cumulative effect of the violations posed a serious risk to the reliability of the bulk U.S. Critically, the utility had in place an internal compliance program at the time of the violations. Settlement Agreement at 12.
Insight-driven decisions are required to operate digital energy grids - and keep my EV charged. Last summer, I had an experience that made me realize how, in the future, utility network operators will need to work based on data they get from assets they may or may not own. Decarbonization is challenging network operators.
Last week industry leaders, experts, and innovators gathered at the Houston Aquarium for the OpenText Energy Summit in Houston , a pivotal event driving conversations on the intersection of artificial intelligence, information management, and energy sector dynamics.
Addressing challenges of the energy transition with grid asset management The energy transition is gearing up to full speed as renewable energy sources replace fossil-based systems of energy production. However, operators must balance intermittent renewable energy intake to produce a controlled, stable output.
In visiting our customers over the past 18 months, I’ve seen a newfound energy for closely examining and more effectively managing PKI infrastructure, both internally and externally,” he says. Companies are moving to update decades old PKI systems because they realize how pivotal this is to digital trust and everything they do.”
. “The ferocity of cyber criminals to take advantage of COVID-19 uncertainties by preying on small businesses is disturbing,” said Andrew LaMarca , who leads the global high-risk and fraud team at Dun & Bradstreet. For the past several months, Milwaukee, Wisc. ” PHANTOM OFFICES.
This blog series discusses the complex tasks energyutility companies face as they shift to holistic grid asset management to manage through the energy transition. The first post of this series addressed the challenges of the energy transition with holistic grid asset management.
Renewable energy is energy produced from Earth’s natural resources, those that can be replenished faster than they are consumed. Shifting to these renewable energy sources is key to the fight against climate change. For example, flow battery technology is being improved to support grid-scale energy storage.
The CIP version 5 Standards implement a tiered approach to categorize assets, identifying them as high, medium, or low risk to the operation of the bulk electric system if compromised. Background. The CIP Reliability Standards require entities to comply with specific requirements to safeguard critical cyber assets.
Issued a few days after the killing, the report assesses cyber risks of North American electrical utilities, identifying 11 hacking groups that target energy sector companies. The Drago report lends color to this looming threat, a threat that was in place when a U.S. drone fired on Gen. Soleimani’s carcade.
From taking a shower, to brewing your coffee, and watching the news, your morning routine is fueled by the energy sector. But the energy sector also underpins our emergency and response systems, our hospitals and healthcare, our schools, our businesses, and virtually everything we do as a society. The Rising Threat.
This blog series discusses the complex tasks energyutility companies face as they shift to holistic grid asset management to manage through the energy transition. Cybersecurity reduces risk exposure for cyberattacks on digitally connected assets.
Many Utilities now realize that a poor customer experience (CX) can put their organizations at risk, whether it’s reputational risk, or regulatory, financial or compliance risks. In a recent webinar with … The post The total experience imperative for Utilities appeared first on OpenText Blogs.
But flash floods, hurricanes and winter storms also profoundly impact utilities. Today, utilities are meeting these challenges and risks with innovation by leaning on data and AI to prepare for the next event. Identifying at-risk assets in advance is a main challenge for utilities.
At its October monthly meeting, the Federal Energy Regulatory Commission (the “Commission”) adopted new reliability standards addressing cybersecurity risks associated with the global supply chain for Bulk Electric System (“BES”) Cyber Systems. These standards have been in development for some time.
In fact, memory attacks have quietly emerged as a powerful and versatile new class of hacking technique that threat actors in the vanguard are utilizing to subvert conventional IT security systems. Allegedly developed by US and Israeli operatives, Stuxnet was discovered circulating through Iranian nuclear energy facilities in 2010.
Are central markets the answer to commoditizing energy flexibility? These parties trade energy using forecasts based on long-term standard patterns of usage at the residential level, now disrupted by local PV installation. The effective application of energy flexibility is needed to address these issues. Thu, 08/01/2019 - 01:09.
Renewable energy is energy produced from Earth’s natural resources, those that can be replenished faster than they are consumed. Shifting to these renewable energy sources is key to the fight against climate change. For example, flow battery technology is being improved to support grid-scale energy storage.
Tiao was featured on Platts Energy Week discussing the importance of the homeland security partnership between electric utility companies and the U.S. View the Platts Energy Week feature with Paul Tiao. government. In the feature, “U.S. The leak of the memo has undermined that trust.
A string of Governmental announcements have increasingly sounded the alarm about the growing cybersecurity threat facing the energy sector. Among other things, these reports have announced that state-sponsored cyber actors have successfully gained access to the control rooms of utilities. Procedural History.
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