Condition-based monitoring product and service provider Dynamic Ratings announced it is joining the Asset to Vendor Network (A2V). Dynamic Ratings will join A2V founders Fortress Information Security, American Electric Power (AEP) and Southern Company in the cybersecurity information-sharing collaborative focused on securing the supply chain in the utility industry.
Dynamic Ratings monitors transformers, generators, circuit breakers, motors, batteries, and switchgear for several US utilities. As a participant in the A2V network, Dynamic Ratings is expected to. meet security-related standards and share cybersecurity best practices with members of the Asset to Vendor Network. Dynamic Ratings joins other participants, including Hitachi ABB Power Grids.
At a time when the nation is seeing an increase in ransomware attacks, this kind of partnership in the utility industry could prevent an attack from turning into an industry-wide catastrophe.
“Joining A2V demonstrates our dedication to cooperating with our customers to meet their compliance requirements,” said Dynamic Ratings General Manager Tony Pink. “We are already working with multiple power utilities to optimize maintenance and operations and minimizes risks. With this new partnership, we can now reduce the amount of time we spend answering multiple redundant cybersecurity controls questionnaires from our customer and provide them with access to a single completed questionnaire through the A2V Network.”
The decision to work with A2V comes at an important time in the utility sector. The industry is working with a new set of rules and guidelines, including new updates to North American Electric Reliability Corporation (NERC) critical infrastructure protection (CIP) standards, specifically CIP standards 005, 010, and 013, that took effect on October 1, 2020, and the Bulk Power Systems (BPS) Executive Order from the White House.
“The demands on the utility industry are greater than ever before at a time when there are more threats and even more expenses,” said Alex Santos, co-founder and CEO of Fortress.
“The A2V Network helps utilities keep compliance costs down and strengthen their security during this period of unprecedented transition. Dynamic Ratings will make A2V more effective and we’ll help them provide value to their customers. We are excited to have this respected company and their distinguished team joining with us to help secure the U.S. power grid.”
Fortress and Dynamic Ratings are co-sponsoring a session in the upcoming DISTRIBUTECH + December virtual event focused on Cybersecurity and Digital Grids. Their session is titled: Examining Supply Chain Security of Substation Transformers : A focused discussion on the Executive Order and takes place in December 17 at 11:30 AM Central. Click the title and register for the series to add the session to your agenda.