The Importance of Cybersecurity within the Power Grid

by Erin McAfee | Nov 22, 2021 | Uncategorized

Now more than ever, electric and gas companies are particularly vulnerable to cyberattacks. There are several components of the energy industry that heighten both the risk and impact of cyber threats against utilities. Those include but are not limited to : 1. Potential disruption of service/generation.  2. Theft of customer information. 3. Disruption of substations, yielding outages. 4. Large expenses could be incurred in the event of a ransomware attack.  5. Large-scale disruption of power to customers through remotely disconnecting services, therefore posing a threat to transmission. These are all things that affect millions of people and our economy.

At EnerConnex, we truly value security and understand that all of our customers are on their own cybersecurity journey. With that said, most individuals in the energy sector have become aware of the risks surrounding cybersecurity, but those leading these sophisticated attacks are always finding new and creative ways to insert a security breach in our technology-evolving industry.

What can you be doing?

• Understand internal and external risks.
• Training for all members of your company/awareness.
• Identify opportunities or potential gaps that there may be based on what OT and IT policies that you already have in place.
• Stay in regular contact with your EnerConnex consultant on the latest developments in the fight against these cyber risks.

PPL Utility Significantly Increases Rates

by Erin McAfee | Nov 12, 2021 | Uncategorized

PPL Utility will be increasing their rates starting on December 1^st, 2021 through May of 2022 for both residential, commercial and industrial rate classes (GS1 and GS3). This is the largest utility default rate increase since June of 2012 and the highest rate since March of 2015 when default rates hit $0.10121 per kWh.

If you have facilities in the PPL service utility in Pennsylvania that are still on the utility default rate for generation, NOW is the time to shield yourself from this historic increase and lock in for the next 18 months to avoid these increases. Stay ahead of future utility price volatility by reaching out to EnerConnex. info@enerconnex.com

Top Energy Topics: with expert, Tony Barnhart

by Erin McAfee | Nov 9, 2021 | Uncategorized

Tony, what are your thoughts on the market going from historic lows during the COVID-19 pandemic, to now the highest it’s been in almost 7 years?

TB: It honestly wasn’t a surprise.  We’ve been saying for a while now that prices can’t remain near historic lows forever or, in many cases, below the cost of producing a kWh or Dth.  However, I think what was surprising is how fast it went from historic lows to ~7-year highs.

How would you advise a customer at a time like this going into the winter months?

TB: It really depends on a customer’s risk profile and current supply contract expiration date.

• If a customer is risk adverse with the desire of budget certainty and a near term supply contract expiration, consider at least a 24-month next term supply agreement in most electricity markets.  This will provide price certainty at a lower rate than a shorter-term agreement.

• If a customer’s next term supply agreement doesn’t expire for another year or two, consider adding years to secure your supply rate for many years to come.  We’ve helped some customers buy out for 6-8 years.  Electricity markets are backwardated, meaning future years prices are less expensive than near term.

• With natural gas prices at recent highs, consider locking in basis for several years out.  Typically, as natural gas prices increase, basis pricing can be fairly attractive.

Can you talk about the importance of businesses paying more attention to Energy Efficiency and Sustainability goals?

TB: Sure, the cheapest kWh of energy is the one you do not use.  For this reason, it’s important to look at all areas to reduce consumption – whether it be through conservation, retrofits, or upgrades.

As for Sustainability, it’s important to get ahead of what likely will be, if not already, future mandates from your customers.  EnerConnex is working with more and more of our customers on Sustainability reporting not only due to their customers requiring more from them but also increased investor scrutiny, think ESG.