A new report highlights how growing reliance on digital technologies across Europe, combined with geopolitical tensions and sophisticated threat actors, is creating a perfect storm that could put energy stability at risk and lead to the lights going out.
The study from security awareness training platform KnowBe4 shows the average number of cyberattacks against utilities more than doubled between 2020 and 2022. Specifically across Europe, cyber threats to the energy sector have surged, driven by an epidemic of under-reporting and lack of detection, with recent attacks disrupting operations, compromising sensitive data, and highlighting the urgent need for stronger cybersecurity measures.
The energy sector reported three times more operational technology (OT)/industrial control system (ICS) cyber incidents than any other industry in 2023, with phishing behind 34 percent of attacks.
Successful reported cyberattacks on UK utility companies surged by 586 percent from 2022 to 2023. Ransomware and phishing are also causing revenue losses and disruptions, pushing 94 percent of energy firms to adopt AI-driven cybersecurity.
“As Europe navigates evolving cyber threats, the energy sector must take proactive steps to strengthen its cybersecurity defenses,” says Martin Kraemer, security awareness advocate at KnowBe4. “The protection of critical infrastructure is paramount, as the research highlights how cyberattacks can cause widespread disruption across the energy sector, impacting everything from power generation to distribution. The need for continuous education, investment in threat detection technologies, and cross-border collaboration to safeguard the continent’s power infrastructure against escalating cyber threats has never been more clear.”
The report highlights the impact of security awareness training in reducing human risk in the energy and utilities sector, with phishing susceptibility in large energy organisations dropping from 47.8 percent to four percent in one year following training.
The full report is available from the KnowBe4 site.
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