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by bonchicbongenre
2126 days ago
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The answer: yes, they could've. I had a professor who previously had been part of a US gov group that had been tasked with preparing for an attack on the electrical grid, all the way back in the tail end of the cold war. His impression of the security of the US grid was that it was completely unsecured. He told me that they had no chance of solving the problem then, and that he expects the same is still the case. His worst fear is a large EMP attack, not locally cutting powerlines, but the danger still stands |
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This means redundancy is written down by MBAs as excess capacity. It means assets are stretched to far nearer their safe limits than was ever envisaged previously. This ironically reduces their safe working life (in many cases), but this problem is cast along the road - in markets where providers re-tender regularly to continue to operate, that means it's a problem for the next franchise holder.
The incentives just aren't there to encourage creation of new redundancy. Existing redundancy won't be removed (as that would cost more!), but the long term outcome of this kind of "regulated private provider" system seems to be systemic under-investment in capital assets, with a view to deferring the problem until another time.
Another big challenge is that often the regulators for energy companies are "market" regulators, and therefore staffed by expert economists, rather than expert engineers. This further perpetuates the myth you can maintain and run critical national infrastructure with an economics degree and a calculator, and means the regulator tends to focus solely on economics, while assuming any issues with technology are fixed through economic incentives. Often they aren't, as the cost of a systemic black swan event is multiplied out by its likelihood, and the end result is to take no action while enjoying the profits today.
At least the above is based on my experience in trying to get energy market regulators to understand security and the issues of their regulator approach.