Utility companies are trying to make more of their customers enroll in online billing. But as more utility companies do billing online, there is a greater risk of these companies being subject to hacking.
A recent poll found that 55 percent of billing executives at utilities companies believe that a further utilization of tech will impact the growth of utilities over the next five years. In the same poll, 93 percent of executives stated that it is crucial to have digital billing in order for a utility company to be able to grow.
This is not just some belief that utility companies came to overnight, most of these companies have long had a digital billing system and continue to make innovations on it.
But as the world is seeing with all digital aspects, such innovation brings risk. It is not just that more utilities are online, it is that this development is coupled with a further online world in general. More people are working remote and are accessing their accounts from various places, opening up further possibilities for hacking.
A separate study from the one above found that utility organizations are further investing in the use of wi-fi networks internally. Additionally, as expected with any company, the utility companies have large numbers of laptops and substantial IT infrastructure. But again what makes utility companies different than other companies is the fact that these companies are handling so many customers’ personal data and payment information.
The study found a lot of enthusiasm for the increased connectivity and capability of online programs at their companies, but also that most respondents did not believe that their company had the capabilities to stop cyber threats.
The issues with the gas hacking last year is still fresh in people’s mind, and that should be relevant when discussing security and energy. Another instance to be mindful of, is when the United States Office of Personnel Management was hacked in June 2015. The hack exposed the personal data of 22.1 million people. It is conceivable that some actor might try the same thing with utility companies because of the amount of data they have.
It is exciting to see all of the ways technology improve people’s lives. But this excitement can be short lived if the if the vulnerabilities are no protected.