The Security Advantages in Remote Power Monitoring with EasyLink
The Energy and Utilities industry is becoming increasingly dependent on modern technology for its operations. Cutting-edge technology solutions like the Internet of Things and Remote Monitoring devices are penetrating the sector to cater to the growing demand for power and electricity while ensuring responsible consumption by users for a sustainable future. Unfortunately, the rise of the Internet connection and advanced innovation have given birth to cybercrimes. The more advanced the technology is, the more robust the security breaches are. In 2023, the number of data breached records in the UK amounted to 914,000. The global average cost of data breaches in 2023 rose to USD 4.45 million, approximately a 15% increase over last three years. As per studies, the power industry is at high risk from data breaches, with an average annual cost amounting to USD 4.65 million.
It is a given fact that any remote service involving sensitive data shared through the Internet becomes a hot spot for cyber thefts. And wireless energy meters are no exception. Therefore, a robust security infrastructure becomes paramount.
Understanding the Impact of Security Breaches in Remote Monitoring
Like every other sector, the Energy and Utilities industry strives towards a smart future with new-age technology solutions. Modern hi-tech services connected through the Internet are potential targets for cyber miscreants. Online attacks in the EU industry can lead to significant consequences such as financial losses and business disruptions. Attacks can occur across the chain of business operations, from generation and transmission to distribution and customer delivery. The increasing cyber dependencies present a window of opportunities for cyber-attacks. The consequent impact can be damaging in terms of data theft, financial loss, physical equipment damage, disruption of business operations, brand erosion, and even loss of life.
IoT-enabled remote monitoring devices have elevated the need to capture more customer data shared through the open network. Social engineering, system intrusion, web application attacks, phishing, and ransomware attacks are common threats the sector poses.
As stated, ransomware is one of the prolific threats to the EU industry; here’s an example to show how a cyber security breach can duly impact the entire operation:
One of the largest cyber-attacks against the energy infrastructure occurred in May 2021, and the Colonial Pipeline was targeted. The attackers threatened a remote takeover of around 5,500 miles of pipeline. This threat compelled the company leaders to shut down operations for six days immediately. The shutdown resulted in major fuel shortages, a dramatic price increase, and hoarding of items in short supply. The Colonial Pipeline had to pay a ransom worth USD 4.3 million. The entire chain of operations was impacted while the attack was carried out remotely without accessing field equipment.
Remote monitoring services in the power sector include data exchange in large volumes.
One single incident like the one mentioned above can prove extremely costly for the sector as a whole. Power shortages and high electricity charges for the customers are other secondary impacts disrupting the entire industry.
Smart Meters Under Attack - Primary Threats and Areas at Risk
Remote IoT monitoring devices like Eastron Europe’s EasyLink have become popular among commercial and industrial users. The primary reasons these meters dominate the sector are the ability to track energy usage in real-time and share accurate billing while exchanging data for energy-efficient use. However, the proliferation of connected devices has only raised security risks, which cannot be ignored, especially when the cost of such breaches crosses the million-dollar threshold.
Here is a list of primary threat areas to consider:
Unauthorised Access
This is one of the prominent security risks for smart meters. If a hacker gains access to the meter, they can control the property's energy usage, leading to higher bills or even a complete blackout. Also, in gaining access to the smart meter network, cyber offenders can gain control over other connected devices in the home. Eventually, this will lead to a more significant security breach.
Data Privacy
One of the primary capabilities of smart wireless meters is to collect a large amount of data about energy usage patterns. Such data is further optimised to develop more efficient and effective energy management strategies. Sadly, data breaches are necessarily carried out to leverage this data for nefarious purposes, such as identity theft or targeted advertising. Therefore, securing wireless meter data is paramount to prevent unauthorized access.
Cyber-attacks
These advanced remote monitoring devices are vulnerable to cyberattacks. As stated, a cyber-attack can disrupt the energy supply and cause widespread power outages. A successful security breach on a utility company's smart meter network can lead to significant financial loss while driving serious disruptions to critical infrastructure.
Physical Security
Smart wireless energy meters allow remote access. But this very capability can be susceptible to physical tampering. A determined attacker easily accesses the meter and tampers with it to alter energy usage, causing a complete blackout.
Vulnerabilities in Software and Hardware
Like any other modern technology, IoT-enabled smart meters are susceptible to numerous vulnerabilities, especially in their software and hardware. These weak points are soft targets for cybercriminals. They can easily gain unauthorised access and exploit the unsecured meter and the network. Smart meters must be designed with robust security measures to prevent such occurrences.
Mitigating Risk in Remote Monitoring – A Few Steps to Consider
Building a robust security infrastructure has become imperative for smart metering powered by IoT solutions for numerous reasons. Since the user data stands at high risk, privacy, and data security have become non-negotiable.
A few simple measures discussed below will provide the added safeguard for remote power monitors:
- Encryption: Wireless power meters should allow strong encryption for data protection during transit and at rest.
- Authentication: Strong and two-fold authentication will prevent unauthorized access.
- Software Updates: Frequent software updates are carried out to identify vulnerable areas and are duly fixed to improve security.
- Physical Security Measures: Smart meters are designed with physical security measures in mind that prevent potential tampering.
- Employee Training: Employees handling such devices should be adequately trained in security best practices. This would prevent social engineering attacks and other security breaches.
Elucidating the Security Advantage of EasyLink Remote Monitoring
Eastron Europe’s EasyLink cloud platform has been powered by cutting-edge technology like IoT, enabling remote energy management and device data optimisation. The device allows seamless energy supply while empowering users to make informed choices about energy-efficient usage through continuous monitoring and improvement. This wireless remote monitoring solution gives users complete control over energy usage while providing robust data security through unwavering commitments.
EasyLink remote monitoring allows real-time data tracking while supporting data interpretation from one device or a group. Through easy alert features, the source of operational issues is detected, allowing for seamless remediation. More importantly, the safety and security of consumer data are prioritised, and its components are aptly configured to ensure energy consumption data is safe.
The security infrastructure of the EasyLink remote monitoring device includes the following features:
- Easy Data Management: EasyLink access and manage your account and energy usage globally via the internet. Virtual asset structures and digital twins are enabled with system hierarchy settings.
- Easy Alerting & Monitoring: This remote monitoring device is configured to detect operational issues. Further, the source of the problems is detected, and preventive actions are taken to counter them while sharing alerts on your phone or in your inbox.
- Easy Device Management: The Real-time Monitoring feature allows easy Identification of device issues and is duly addressed to ensure online stability. Also, remotely locate devices for investigation and manage settings for more security.
The Final Takeaway
Considering the frequency of cyber-attacks occurring across all sectors, tightening the security features for devices connected to the Internet is imperative. IoT-enabled remote monitoring equipment also requires special attention as the cost of data breaches in the Energy and Utilities sector is humongous. Therefore, wireless energy meters from Eastron Europe give importance to data privacy, and the embedded security infrastructure ensures all consumption data shared through the Internet are safe. Regardless of connected devices, the early detection and easy remediation make EasyLink and other remote power meters the best fit for optimising energy usage to keep up with the requirements of a sustainable future.