As the electric grid becomes more distributed and interconnected, cybersecurity is increasingly a concern: the New York utilities say the cost of a cybersecurity incident averaged more than $17 million for the sector in 2017, a 22.7% increase over the 2016 costs.
According to the utilities, many energy service entities initially objected to the proposed agreement, which included a requirement for cyber insurance, a data security rider detailing cybersecurity requirements for each utility, and for some of the utilities, a vendor questionnaire concerning the state of each entity’s cybersecurity.
