TY - GEN
T1 - Methodology for quantifying the economic impact of cyberattacks on bulk electric systems
AU - Kang, Dong Joo
AU - Kim, Hyun Tae
AU - Choi, Sungyun
N1 - Funding Information:
The work was supported in part by the Electric Power Public Tasks Evaluation & Planning Center (No. 15-02-N0401-02), in part by a Korea University Grant, and in part by “Human Resources Program in Energy Technology” of the Korea Institute of Energy Technology Evaluation and Planning(KETEP) granted financial resource from the Ministry of Trade, Industry & Energy, Republic of Korea (No. 20174030201820).
Publisher Copyright:
© 2019 IEEE.
PY - 2019/5
Y1 - 2019/5
N2 - As cyber assets have become essential components in the operation of bulk electric power systems, cyberattacks can make massive impacts on physical systems, eventually causing severe economic losses. The paper presents methods to measure the economic impacts of cyberattacks in various sectors of bulk electric systems such as the energy management system (EMS), generations systems, and transmission systems. This paper explains the interaction mechanisms of how cyber threats can affect physical electric systems and, then, presents how to measure economic losses incurred by those cyber threats. These economic losses include power outage costs, transmission loss, and operating loss. The paper describes possible cyberattack scenarios in the three essential electric power systems, as well as simulation methods to measure resultant economic losses.
AB - As cyber assets have become essential components in the operation of bulk electric power systems, cyberattacks can make massive impacts on physical systems, eventually causing severe economic losses. The paper presents methods to measure the economic impacts of cyberattacks in various sectors of bulk electric systems such as the energy management system (EMS), generations systems, and transmission systems. This paper explains the interaction mechanisms of how cyber threats can affect physical electric systems and, then, presents how to measure economic losses incurred by those cyber threats. These economic losses include power outage costs, transmission loss, and operating loss. The paper describes possible cyberattack scenarios in the three essential electric power systems, as well as simulation methods to measure resultant economic losses.
KW - Cyber threat
KW - Cyber-physical systems
KW - Cyberattack
KW - Cybersecurity
KW - Impact analysis
UR - http://www.scopus.com/inward/record.url?scp=85067887903&partnerID=8YFLogxK
U2 - 10.1109/ICPS.2019.8733322
DO - 10.1109/ICPS.2019.8733322
M3 - Conference contribution
AN - SCOPUS:85067887903
T3 - Conference Record - Industrial and Commercial Power Systems Technical Conference
BT - 2019 IEEE/IAS 55th Industrial and Commercial Power Systems Technical Conference, I and CPS 2019
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 55th IEEE/IAS Industrial and Commercial Power Systems Technical Conference, I and CPS 2019
Y2 - 5 May 2019 through 8 May 2019
ER -