The US$8 billion Spend to Secure Smart Utilities Inadequate; Cyberthreats to the Utility Infrastructure Grave

The lack of sustained public support sends a deflated message to operators in the field about the importance of cybersecurity. "Worryingly, both power and water utilities have reported advanced persistent threats which exploit flaws in industrial control systems. More critically, run-of-the-mill cyberthreats such as ransomware and DDoS attacks are increasingly affecting operator's cyber-assets, both on the back and front-end. Cybersecurity must be a concerted effort by all stakeholders, including the public. With only partial support, the risks intensify," warned Menting. 

The lack of sustained public support sends a deflated message to operators in the field about the importance of cybersecurity. "Worryingly, both power and water utilities have reported advanced persistent threats which exploit flaws in industrial control systems. More critically, run-of-the-mill cyberthreats such as ransomware and DDoS attacks are increasingly affecting operator's cyber-assets, both on the back and front-end. Cybersecurity must be a concerted effort by all stakeholders, including the public. With only partial support, the risks intensify," warned Menting. 

While power and water grid stakeholders will spend over US$8 billion globally on cyber-securing utility infrastructures in 2018, only a small portion of that will be dedicated to operational technologies and smart systems. Grid modernization efforts are an ideal time to start designing and integrating digital security and provide an opportunity for adapting existing mechanisms and processes to the OT space -  from industrial control systems to smart meters. "Operators and other stakeholders should remain firm in their commitment to cybersecurity, despite the backseat public support. Fortunately, from a private sector perspective, a growing vendor ecosystem -  including companies such as CY-OT, ForeScout, Nokia Networks, Nozomi Networks, OSIsoft, Radiflow, Sierra Nevada Corporation, SkyBox Security, and Smart Energy Networks - is emerging to hopefully address these issues," Menting concludes.

These findings and more can be found in ABI Research's Cybersecurity in Smart Utilities report. This report is part of the company's Digital Security research service, which includes research, data, and Executive Foresights.

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