utilities News

Ukraine Blames Russian Hackers for Attacks on Power Grid, Financial System

Ukraine on Wednesday accused Russian hackers of targeting its power grid, financial system and other infrastructure with a new type of virus that attacks industrial processes, the latest in a series of cyber offensives against the country. Oleksandr Tkachuk, Ukraine’s …

French Utility Firm Veolia Beefs Up Cyber Security to Protect Water Plants

Veolia Environnement SA, the French utility that provided drinking water to 100 million people last year, has beefed up cyber security to protect installations from hackers. “Cyber crime is the main threat for the company,” Jean-Louis Fiamenghi, the head of …

Tokio Marine Covers Geothermal Power Firms from Hot Springs Risk

Tokio Marine & Nichido Fire Insurance Co. has begun offering a type of insurance intended to ease the concern of hot springs operators about the impact of new geothermal power stations. Developers of geothermal power projects can now buy an …

Ascot, Chaucer & Skuld Form Underwriting Consortium for Renewable Energy

Ascot Underwriting Ltd. has formed Renewco Consortium (ReCo), a dedicated and independent underwriting platform for the renewable energy industry. The Lloyd’s consortium is jointly led by Ascot and Chaucer and managed by Ascot; Skuld is the third consortium partner. With …

Smart Meters Pose New Risks for Energy Industry

Last November, Felix Lindner came very close to shutting down the power supply of Ettlingen, a town of almost 40,000 people in the south of Germany. “We could have switched off everything: power, water, gas,” Lindner, head of Berlin-based Recurity …

Southern California Spot Power in Surges Due to Fires

Spot electricity in Southern California surged as Sempra Energy’s San Diego Gas & Electric Co. utility worked to restore service following a fire that disrupted high-voltage transmissions. On-peak, spot electricity at Southern California’s SP15 hub more than doubled to $152.73 …

Michigan Utility Agrees to Create $1M Explosion Fund

One of Michigan’s largest utilities has agreed to pay $1 million to create a new response fund after a natural gas line exploded, killing a Royal Oak man. Attorney General Bill Schuette said Consumers Energy will spend $900,000 to help …

Lloyd’s Ascot in Underwriting Deal for Power Generation with Brit, QBE, Sciemus

lloyd’s insurer Ascot Underwriting Ltd. announced that it has formed the Strategic Power Consortium, which it described as a “dedicated technical underwriting vehicle for the power and utilities industry.” It began writing business as of January first. Together Ascot, Brit …

Michigan Investigation of Detroit’s Wind-Swept Fires Still Underway

State officials are still investigating the causes behind wind-swept fires that burned last year in a number of Detroit neighborhoods, and the response by a city utility to reports of power outages and downed wires. The Michigan Public Service Commission, …

Willis Appoints Capurro to Lead UK Utilities Practice

Willis Group Holdings UK branch announced that Robert Capurro has been appointed leader of the Utilities Practice within its Risk Solutions division, effective immediately. He is based in London, and reports to Paul Chetwynd-Talbot, National Practices Leader for Willis UK …