The NERC’s approval of the CIP Version 5 and the Reliability Assurance Initiative represents significant progress in helping mitigate cyber and other operational risks to the bulk power system. However, the standards also intensify the pressure on utilities to strengthen their controls and compliance programs. Noncompliance can result in reliability issues, reputational damage, lost regulatory margin and/or significant fines and penalties.
A new power and utilities sector cut of PwC’s report, Enabling performance through advanced monitoring and testing, discusses the use of continuous monitoring and testing systems to help identify and mitigate risks specific to the industry. The report offers a standardized risk and compliance monitoring and testing approach that can help utilities optimize their controls while keeping valuable resources focused on core business processes.
Read the full report here.