BOSTON, May 13, 2025 - Electric cooperatives can calculate how being proactive on cybersecurity helps lower their business risks and exposure to costly cyberattacks as part of a new pilot program at NRECA.
“Participating co-ops will gain insight into how cyber risks turn into financial risks, and their information or operational technology managers will have data to share with their C-suite and boards about the costs of cyber risk and the value of cybersecurity,” said Adrian McNamara, NRECA’s cybersecurity program manager.
The Cyber Risk Quantification Pilot Program kicked off earlier this year employing a risk solution tool from DeNexus, the DeRISK Quantified Vulnerability Management platform, that charts common cyber vulnerabilities and exposures to financial consequences. Using this tool, co-ops in the pilot can see their business risk prior to and after implementing NRECA’s 20 Co-op Cyber Goals.
“Transmission and distribution electrical systems are exposed to cyberattacks, and modeling the financial cyber risk of these critical infrastructures requires a tailored approach to capture their underlying physical characteristics,” said Jose Seara, founder and CEO at DeNexus.
“We worked with transmission system operators to calibrate DeRISK to meet these requirements and now are delighted to work with NRECA and the co-ops to show the effectiveness of the 20 Co-op Cyber Goals and enable efficient communications between co-op cybersecurity and leadership teams,” he said.
More than 400 electric co-ops are pursuing the 20 Co-op Cyber Goals as a way to prioritize cybersecurity and involve all staff in securing reliability and member services.
“By putting a dollar amount on cyber risk, co-ops can analyze the potential financial benefits of investing in cyber protection measures.” McNamara said. “For example, the pilot platform tool may show your co-op has a $1 million overall financial risk, but that that risk may decrease to $250,000 by implementing the strategies, processes and procedures of NRECA’s Co-op Cyber Goals.”
Three co-ops are currently participating in the pilot, and NRECA is seeking seven more. The program will run through early 2026. Co-ops interested in joining the pilot can contact McNamara (Adrian.McNamara@nreca.coop).
“Cyberthreats are increasing and becoming more sophisticated by the hour, and as operational costs rise so does the cost of surviving a cyberattack,” said NRECA Cybersecurity Director Carter Manucy. “This pilot will help provide co-ops with benchmarks and risk exposure to help IT and OT managers explain the value of cybersecurity investments to offset the view of cybersecurity as a pure cost center.”
For more information about DeNexus' DeRISK Quantified Vulnerability Management or to request a demonstration, please visit: https://www.denexus.io/products/derisk/derisk-quantified-vulnerability-management.
About DeNexus™
DeNexus is a leading provider of end-to-end cyber risk management for industrial networks. The company aims to establish the global standard in industrial cyber risk management for risk owners, shareholders, investors, boards, and the risk transfer market. Employing advanced simulation, AI, and internal data, DeNexus forecasts incident probabilities, translating them into quantifiable financial risks. Trusted by Global 1000 companies in energy, manufacturing, transportation, and data center operations, DeNexus provides an evidence-based approach to tailor cybersecurity economics and enhance risk reduction investments. https://www.denexus.io.