BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Electric Power | Natural Gas

US FERC, DOE to examine potential incentives to bolster investment in energy security

LNG | Natural Gas | Natural Gas (North American) | Oil | Crude Oil | Oil Risk

US energy exporters undeterred by trade risks, geopolitics: DOE's Brouillette

Natural Gas

Platts Inside FERC Bidweek Watch

Commodities | Energy | Electric Power | Emissions | Renewables | Natural Gas | Natural Gas (North American)

Northeast Power and Gas Conference

Natural Gas | Oil | Crude Oil

La mexicana CNH cancela las subastas de farmout en tierra firme de Pemex

US FERC, DOE to examine potential incentives to bolster investment in energy security

Highlights

FERC, DOE to explore cyber and physical security best practices

Cost recovery policies, investment incentives also on tap for discussion

Washington — The US Federal Energy Regulatory Commission and Department of Energy will look at ways federal and state regulators can foster investment in energy infrastructure security as the two agencies discuss cyber and physical threats to the power and natural gas sectors at a technical conference scheduled for March 28.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

An uptick in public disclosure of cyber attacks by the federal government and the US calling out of Russia for its role in a massive multi-year hacking campaign have put a brighter spotlight on cybersecurity risks facing the energy sector.

Highlighting the risks, Director of National Intelligence Daniel Coats recently described China as a growing threat to US critical infrastructure and flagged gas pipelines as a vulnerability illustrative of the broader threat.

"The threats against our nation's energy infrastructure, particularly the electric and natural gas sectors, continue to grow and the responsibility for protecting our energy infrastructure is shared across industry as well as states and the federal government," FERC Chairman Neil Chatterjee said in a statement Monday.

Commissioners and senior DOE officials will meet at FERC's headquarters March 28 to lead discussions on current practices for mitigating and thwarting cyber and physical threats to energy infrastructure, and explore how the federal government and states can provide incentives and cost recovery to entice more spending on security in the electric and gas sectors, according to a FERC notice (AD19-12) Monday.

HIGH-LEVEL TOPICS

The commission notice said the high-level discussion of current and emerging threats would delve into "factors that the private sector considers when evaluating energy infrastructure security threats and vulnerabilities, as well as the availability of resources and challenges associated with evaluating these issues." Cyber and physical security best practices and mitigation strategies would also be addressed, the notice said.

As for planned talks on spurring investments to improve energy infrastructure security, the notice said the meeting would "concentrate on federal and state authorities' current cost recovery policies" and "look at how security investments are presently incentivized and what type of incentives would be most effective to facilitate security investment," be it accelerated depreciation, adders to return on equity or other mechanisms.

DOE Assistant Secretary of Electricity Bruce Walker said he looked "forward to building upon [the department's] partnership with FERC to jointly discuss and find solutions for the emerging threats facing our critical energy infrastructure."

Meantime, bipartisan legislation introduced January 31 would require DOE to carry out a new program working with other federal and state agencies and the energy sector to protect gas and hazardous liquid pipelines as well as LNG facilities from cyber and physical threats. Pipelines have been criticized for a lack of mandatory standards to safeguard against cybersecurity threats comparable to those set for the power grid.

FERC said more details on the co-hosted technical conference would be made available in a future notice.

-- Jasmin Melvin, jasmin.melvin@spglobal.com

-- Edited by Keiron Greenhalgh, newsdesk@spglobal.com

Megawatt Daily

Platts Megawatt Daily delivers timely and relevant North American electric power information and is a valuable asset providing clarity in this dynamic market. Click the link below for more information on how this market report can meet your business needs.

Free Trial