Smart-Grid-Enabled Business Cases and the Consequences of Cyber Attacks

The introduction of smart metering systems is a paradigm shift for the power grid. New business cases such as virtual power plants and local flexibility markets are evolving. Security risks and the potential consequences of smart-grid-enabled business cases have been assessed by researchers. However, the research efforts have not ranked the business cases according to their potential disruptive consequences, which makes it difficult to prioritize risk reduction measures. This chapter describes the results of a survey of market players that sought to rank smart-grid-enabled business cases based on their perceptions of cyber attack consequences. As expected, the consequence perceptions of the market players vary considerably between the business cases. Consequence scenarios suggested by the market players are employed to explain the highest-ranked business cases, which include digital twins, remote access to smart meter circuit breakers, and grid flexibility and balance management. The survey results can support governments and market players in assessing power grid risk and prioritizing risk reduction measures.