Onshore Energy Conference — Dubai Onshore Energy Conference — Dubai 01 | Page 41

POWER OUTAGE

us to estimate the costs to the distribution
companies, but also to society. We began
this work over a year ago, and when we
started people didn’t believe hacking of
energy systems was even possible outside
of the small community of industrial
control system security professionals.
The importance of the report that Concinnity
Risks produced with Cambridge Centre for Risk
Studies is that it allows us to quantify severity
and fiscal impacts. It should be possible to build
metrics of population over substations and

revenue over substations to estimate the costs
of any cyber attack in energy that produces
an outage. This only leaves us with important
research about the frequency and likelihood
of such events, something that is very possible
for insurance companies to accomplish if they
set their mind to it. It can be found here:
lockheedmartin.com/blackout
The Ukranian incident on the other
hand was a wake up call to governments
and engineering insurance providers alike.
Unfortunately, this one is not hypothetical.
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