Security Challenges in Smart-Grid Metering and Control Systems

The term "smart grid" generally refers to a next-generation power grid in which the generation, transmission, distribution, and management of electricity are upgraded and automated by incorporating advanced computing and communication technologies for improving the efficiency, reliability, economics, and safety of the grid. Loosely speaking, a smart grid is composed of a power grid and a two-way communication network for information retrieval and management. When compared to legacy and closed power-control systems, the smart grid is envisioned to establish a scalable, pervasive, and interactive communication infrastructure with new energy-management and demand-response capabilities. During the past few years, smart-grid metering and control systems have been widely deployed throughout the world. According to a new Navigant Research report (2013; tinyurl.com/m3qm7xx), the global market potential for smart-grid equipment manufacturers and solution providers will nearly double by 2020, reaching $73 billion in annual revenue and $461 billion in cumulative profit.