The Federal Energy Regulatory Commission (FERC) has proposed new rules to encourage public utilities to invest in cybersecurity measures beyond what is currently required. These rules offer financial incentives like an increased rate of return and deferred cost recovery for utilities that enhance their cybersecurity infrastructure. The aim is to protect the Bulk-Power System against growing cyber threats by using established standards and frameworks like the Critical Infrastructure Protection Reliability Standards and the NIST Framework. Comments on this proposed rule are invited to ensure a wide range of insights, with a deadline for submissions set for April 6, 2021, and replies by May 6, 2021.
Simple Explanation
The government wants to give extra money to energy companies if they choose to make their computers and systems safer from bad guys who might try to mess with them. They're still figuring out the best way to do this so it’s fair and makes the system strong and safe for everyone.