Today’s LiveWire Spotlight outlines the concepts underlying two of the four key process blocks that make up NERC’s Reliability Assurance Initiative (RAI). First, the Inherent Risk Assessment (IRA) Guide outlines the risk factors a Compliance Enforcement Authority (CEA) should consider in order to determine a Registered Entity’s level of threat to the Bulk Electric System. Second, the Internal Control Evaluation (ICE) Guide describes how a CEA evaluates the mitigation practices Registered Entities use to address their inherent risk.
Even though the RAI process has not be fully documented, the risk-based Compliance approach is already being trialed in some Regions. It is expected to be fully implemented across North America by 2016.