⚡New Supply Chain Risk Management Regulations from FERC
Supply Chain Risk Management Reliability Standards Revisions; Equipment and Services Produced or Provided by Certain Entities Identified as Risks to National Security
Summary
The Federal Energy Regulatory Commission (Commission) directs the North American Electric Reliability Corporation (NERC), the Commission-certified Electric Reliability Organization, to develop new or modified Reliability Standards that address the sufficiency of responsible entities' supply chain risk management plans related to the identification of and response to supply chain risks. Further, the Commission directs NERC to develop modifications related to supply chain protections for protected cyber assets. This final action also terminates a related notice of inquiry.
Agencies
- Energy Department
- Federal Energy Regulatory Commission
Business Impact
$$$ - High
The document outlines regulatory requirements for businesses concerning supply chain risk management in the electric sector. It mandates the development and modification of Reliability Standards that impose compliance obligations on responsible entities to address supply chain risks and enhance cybersecurity measures, which can impact operational practices and costs.