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Putting a Price on Smart Grid Cyber Security: How About $21 Billion in Five Years? By SGN Staff Feb 4, 2010 - 1:51:49 PM
You know our opinion: Yes, cyber security is a big problem, and yes, it can be resolved as it has been in other industries. But what about the specifics? For a smart look at what's going on and the utility take-away, read Andy Bochman's piece which we just posted yesterday. And for what the industry is doing, you may want to take a look at the NIST cyber security strategy draft just released. Massive global Smart Grid infrastructure upgrades have also spurred investments in cyber security to protect the electric grid from hackers and terrorists as well as natural disasters and other potential threats. Pike Research expects those investments to reach about $21 billion within five years. The Pike report, Smart Grid Cyber Security, notes that the efforts to protect the developing Smart Grids by utilities, vendors, standards organizations and governments is also boosting related revenue growth: It's expected to grow from $1.2 billion in 2009 to $3.7 billion by 2015. And the $21 billion in cyber security deployment investments is expected to happen between now and 2015. "No utility wants to be the weak link in the chain," said Clint Wheelock, Pike's managing director. "The concern over grid vulnerability is driving utility technologists to work closely with systems integrators, infrastructure suppliers and standards bodies to develop a robust framework for Smart Grid security across multiple domains." Wheelock commented that the cyber security surge picked up speed over the past year largely because of DOE Smart Grid stimulus programs, standards being developed by NIST and priorities set by FERC. NIST just released the second draft of its Smart Grid Cyber Security Strategy and Requirements, an assessment and guide for ensuring the reliability and security of the modernized Smart Grid and protecting the confidentiality of information obtained by technologies such as two-way communications and smart meters. Pike predicts that equipment protection and configuration management will be the biggest security category for the next several years. It anticipates the largest investments will be in cyber security for distribution automation and transmission improvements, followed by security measures for AMI. Among other things, the report explores five primary cyber security categories: policy/planning/awareness, equipment protection and configuration management, monitoring and incident response, access/audit/integrity and risk management. From the source ...
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