Electricity Asset Management Plan 2019-2029
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Vector Limited://
network extends more into the consumer domain, this will inevitably increase the attack surface and therefore the risk of compromise.
New technologies present a significant opportunity to provide enhanced services and a more robust network for end consumers, however it is important that we also embed appropriate security controls across the network to maintain trust and integrity. As a major cyber attack becomes increasingly likely (it is not if but when), we must ensure we are appropriately prepared and are able to quickly respond to limit any impacts. Maintaining effective security controls and response strategies is a key priority and an area in which we continue to invest heavily to ensure we appropriately manage this risk. We have improved our ability to prevent and detect potential cyber security treats with our new Security Operations Centre (SOC) which provides 24/7/365 monitoring of our SCADA and Corporate network and continue to improve our preventative and detective controls such as malware detection and our firewalls. In addition, we continue to actively contribute to key NZ industry security forums, across public private sectors and our SOC constantly monitors available threat intelligence feeds for the latest attack trends which are automatically deployed to enhance our perimeter security controls. PRIVACY As part of managing network assets, privacy must be considered in all things and not just in the cyber security context. The volume and potential sources of data required to effectively manage and operate the network continues to expand. New network and customer devices generate increasingly important information about consumption patterns, faults, performance and resilience which enable us to efficiently and effectively manage the network. This information is also extremely sensitive and this means there is an increased risk that we may be targeted by malicious actors wishing to gain unauthorised access to this information. Accordingly, we are elevating our internal controls to ensure this information is appropriately protected particularly where Personally Identifiable Information (PII) is involved. Effective management of information is critical to maintaining trust in the network and in Vector as its custodians and we take our obligations very seriously. We have a clear vision of the level of process and control maturity required to adequately protect the network and data for which we are custodians and a roadmap which supports how this will be achieved.
The Vector Group Data and Information Policy is the guiding document for the collection, storage, use and sharing of personal information to ensure we only use personal information in a way that is permitted and ethical
3.11 SUSTAINABILITY
SUSTAINABILITY AND THE ASSET MANAGEMENT FRAMEWORK Responding to sustainability challenges will shape how we develop our electricity infrastructure. Climate change and decarbonisation initiative are obvious opportunities. Other changes that influence how we manage our assets include the adoption of broader sustainability principles – sustainable procurement and better resource efficiency, plus a shift to embedding circular economy thinking that emphasises re-use and minimises waste.
Throughout the planning process, consideration is given to Vector’s sustainability policy through the following targeted initiatives:
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Supply chain - Reducing exposure to high risk suppliers or products - Opportunity to work with suppliers on mutually beneficial sustainability innovation projects • Adapting for climate change - Hardening the network for expected wind speed increases - Hardening of the assets forecast to be impacted by climate change, e.g. rising sea levels and land subsidence - Developing dynamic asset ratings to compensate for dry and warm spells - Respond to bushfire risk by disabling the automatic reclosing function in reclosers • Enabling energy efficiency (decarbonisation of the economy) options for our customers through our managed integration planning approach • Starting shift to a circular economy - Consider end of life when designing and constructing to avoid expected increases in future landfill costs
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