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Financial impacts of smart meter security and privacy breach

Data privacy; Electric power transmission; Electric power transmission networks; Electric utilities; Energy utilization; Finance; Losses; Mobile security; Smart meters; Financial impacts; Information and Communication Technologies; Privacy breaches; security; Security and privacy; Security Economics...

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Main Authors: Yussof S., Rusli M.E., Yusoff Y., Ismail R., Ghapar A.A.
Other Authors: 16023225600
Format: Conference Paper
Published: Institute of Electrical and Electronics Engineers Inc. 2023
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spelling my.uniten.dspace-223862023-05-29T14:00:40Z Financial impacts of smart meter security and privacy breach Yussof S. Rusli M.E. Yusoff Y. Ismail R. Ghapar A.A. 16023225600 16246214600 56921898900 15839357700 35172922200 Data privacy; Electric power transmission; Electric power transmission networks; Electric utilities; Energy utilization; Finance; Losses; Mobile security; Smart meters; Financial impacts; Information and Communication Technologies; Privacy breaches; security; Security and privacy; Security Economics; Security policy; Utility companies; Smart power grids Many power utility companies around the world are moving towards smart grid, which integrates power delivery infrastructure with information and communication technologies. Smart meter is one of the main components of smart grid. The task of a smart meter is to track energy consumption of a premise and send that information to the utility company. Although the use of smart meter has many benefits, there are a number of security concerns regarding its usage. One particular concern is regarding the impacts of security and privacy breach of smart meter. This paper focuses on the financial impacts of smart meter security and privacy breach. The financial impacts discussed in this paper are derived from the impacts of security and privacy breach described in the literature. It is found out that the financial loss may involve various parties including the premise owner, the utility company, as well as the nation. The amount of loss can also go up to billions of dollars. Given the large group of people who may be involved and the large amount of money to be potentially lost should a security or privacy breach occur, it is very important for power companies to establish a security policy regarding smart meter and to allocate reasonable amount of resources to secure the deployed smart meter as well as the rest of the smart grid infrastructure. � 2014 IEEE. Final 2023-05-29T06:00:40Z 2023-05-29T06:00:40Z 2015 Conference Paper 10.1109/ICIMU.2014.7066595 2-s2.0-84937468177 https://www.scopus.com/inward/record.uri?eid=2-s2.0-84937468177&doi=10.1109%2fICIMU.2014.7066595&partnerID=40&md5=c64c9c2647af228814fa8467d14c4c33 https://irepository.uniten.edu.my/handle/123456789/22386 7066595 11 14 Institute of Electrical and Electronics Engineers Inc. Scopus
institution Universiti Tenaga Nasional
building UNITEN Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Tenaga Nasional
content_source UNITEN Institutional Repository
url_provider http://dspace.uniten.edu.my/
description Data privacy; Electric power transmission; Electric power transmission networks; Electric utilities; Energy utilization; Finance; Losses; Mobile security; Smart meters; Financial impacts; Information and Communication Technologies; Privacy breaches; security; Security and privacy; Security Economics; Security policy; Utility companies; Smart power grids
author2 16023225600
author_facet 16023225600
Yussof S.
Rusli M.E.
Yusoff Y.
Ismail R.
Ghapar A.A.
format Conference Paper
author Yussof S.
Rusli M.E.
Yusoff Y.
Ismail R.
Ghapar A.A.
spellingShingle Yussof S.
Rusli M.E.
Yusoff Y.
Ismail R.
Ghapar A.A.
Financial impacts of smart meter security and privacy breach
author_sort Yussof S.
title Financial impacts of smart meter security and privacy breach
title_short Financial impacts of smart meter security and privacy breach
title_full Financial impacts of smart meter security and privacy breach
title_fullStr Financial impacts of smart meter security and privacy breach
title_full_unstemmed Financial impacts of smart meter security and privacy breach
title_sort financial impacts of smart meter security and privacy breach
publisher Institute of Electrical and Electronics Engineers Inc.
publishDate 2023
_version_ 1806427860242530304
score 13.211869

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