Smart Grid

Michael Hopkins, CEO of ICE Energy based in the United States participates in Risk Roundup to discuss Smart Grid. Smart Grid Overview The electric power grid, which is perhaps the largest machine on earth, was built after World War II using technology that is more than 100 years old– and connected through power lines in total of millions of miles—is serving not only millions of homes and families globally—but also entities across nations: its governments, industries, organizations, and academia (NGIOA). While the current infrastructure of the grid is mostly able to meet the growing power demand across nations, it is in dire need of technology transformation and evolution to become more resilient, reliable, efficient, stable, smart, and more secure to be fit for the digital global age. There are strong indicators that using information, communication, and digitization technologies, the grid has already begun to enhance functionality and communication between turbines, boilers, generators, high voltage transmission lines, and electricity distribution systems. In addition, the Internet of Things (IoT) is also enabling instantaneous safety alerts, streamlining SCADA management, and automating load balancing. This is perhaps just the beginning for Smart Grid! So, as the grid goes through technology triggered digital transformation and is becoming Smart–—it is also proving to be quite fragile and vulnerable– and is facing complex security challenges—not only from cyberspace but also geospace and space. As a result, with each day passing, the security threats facing the grid are increasing in frequency and strength. So, as the efforts to digitize and modernize the century-old grid intensifies, it is important to understand and evaluate the technology and process changes: its impact, strengths, weaknesses, and discuss what needs to be done to secure the smart grid. As nations explore digitization, modernization, and decentralization of the grid, it is important to evaluate what challenges still remain to be overcome for effective technology transformation across nations’ current centralized grid. The time is now to talk about Smart Grid. For more please watch the Risk Roundup Webcast or hear the Risk Roundup Podcast About the Guest Mike Hopkins serves as Ice Energy’s CEO. Prior to joining the company in 2009, Mike practiced law for 18 years as a partner with Bennett Jones LLP, a pre-eminent Canadian law firm and global leader in energy and climate change. He specialized in the development and financing of power projects around the world, served on the firm’s Executive Committee, and led its Utilities, International, and Independent Power Groups. He left Bennett Jones in 2003 to lead the workout of a private data center developer that resulted in its successful sale. Next, Mike co-founded a geospatial information services company and assisted several other startups, including Ice Energy. During his career working with startups, Mike has raised over $100 million in equity funding. Mike is a member of the Law Society of Alberta and the American Bar Association. He earned a BA and law degrees from the University of Ottawa, an M.A. (Law and Economics) from the University of Miami, and an MBA from the University of Alberta. About Risk Group Risk Group is a leading strategic security risk research and reporting organization. Copyright Risk Group LLC. All Rights Reserved The post Smart Grid appeared first on Risk Group.