SNL Financial Highlights ScottMadden’s View of a “Confidence Gap” in Energy Sector Cybersecurity Efforts

December 18, 2015

Kelly Andrejasich, reporter at SNL Financial, recently highlighted ScottMadden’s view of a “confidence gap” in energy sector cybersecurity efforts in a new article. The article examines a presentation provided at the SNL Utility Regulation Conference by Jon Kerner, partner and information technology practice leader at ScottMadden. At the event, Mr. Kerner shared findings from his July Energy Industry Cybersecurity Report, a compilation of cybersecurity research in the energy industry.

During the event, Mr. Kerner shared that although “energy industry officials are generally aware of cybersecurity risks, many lack confidence that efforts to protect assets from these risks will pay off.”

Ms. Andrejasich continued, “The report showed that most energy organizations see cybersecurity as a growing risk and expect their information technology and operation technology assets to be attacked. Most energy organizations have put in place cybersecurity programs and those programs are maturing.”

“At the same time, energy organizations are not certain how effective those efforts are in protecting critical assets. For instance, only 25% of respondents agreed or strongly agreed with a statement about whether their organization effectively manages security risks to information assets, enterprise systems, supervisory control and data acquisition, networks and critical infrastructure.”

Mr. Kerner concluded that the confidence gap exists for a few reasons, one being that senior leadership is not yet as engaged in cybersecurity decision making as is needed. Other reasons include cybersecurity efforts not being organized based on enterprise risks and a lack of meaningful measurement of cybersecurity progress.

About Kelly Andrejasich
Kelly Andrejasich has been a reporter for more than a decade, covering state energy policy for SNL Financial, a division of McGraw Hill Financial Inc.

About ScottMadden’s Energy Practice
We know energy from the ground up. Since 1983, we have been energy consultants. We have served more than 300 clients, including 20 of the top 20 energy utilities. We have performed more than 2,400 projects across every energy utility business unit and every function. We have helped our clients develop strategies, improve operations, reorganize companies, and implement initiatives. Our broad and deep energy utility expertise is not theoretical—it is experience based.

About ScottMadden, Inc.
ScottMadden is the management consulting firm that does what it takes to get it done right. Our practice areas include Energy, Clean Tech & Sustainability, Corporate & Shared Services, and Grid Transformation. We deliver a broad array of consulting services ranging from strategic planning through implementation across many industries, business units, and functions. To learn more, visit www.scottmadden.com | Twitter | Facebook | LinkedIn

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Media contact:
Mary Tew
marytew@scottmadden.com
919-714-7628

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