Executives in the electric utility industry have many opportunities to deploy new technologies to benefit our customers. Yet these technologies also can represent threats to our industry. Indeed, one of the greatest threats to the security and reliability of our electric system is the threat of a catastrophic cyber attack.
Cyber attacks are not a new threat for us, but our exposure to the threat is growing. Our old mainframes in the 1960s and 1970s had limited connectivity and therefore contained exposure to these kinds of risks. But those risks multiplied, and the threats became more sophisticated and multidimensional, as our companies deployed even more new technologies and became integrated into a networked global economy.