Hard-to-manage cyber risk a top threat for energy firms

Cyber crime cited among top three external risks; scarce data makes modelling difficult

Cyber risk has shot up the list of concerns for energy firms in the past year, but chief risk officers and trading heads say it remains difficult to manage.

In a Risk.net survey of energy firms and energy traders conducted during July and August, 10% of respondents said they considered cyber risk to be one of the top three external risks their organisation would face in the next 12 months. It ranked behind only regulation and physical supply-and-demand risks. While there is no comparable