Dive Summary:
- At a conference in Washington, D.C. on Wednesday, utilities including Pepco Holdings Inc. and Exelon Corp. met with federal administrators to gain clarity on steps to recover cybersecurity investments through rate hikes.
- “Having some sort of federal consistency around what utilities should be able to recover I believe is in our national interest,” Doug Myers, CIO for Pepco told Bloomberg. Raising hikes and federal grants would allow utilities to comply with the Obama administration's and FERC’s cybersecurity regulations.
- Currently, the White House is considering eight various incentives, including rate hikes, to offer companies responsible for protecting critical infrastructure.
From the article:
“The cyber message needs to come from the top,” says Chris Peters, a vice president for Entergy Corp. “We have to maintain an accurate security and compliance state.”