Building a Resilient Power Sector inescapable, a better understanding of the risks is essential if we are to improve risk management and identify the most efficient and costeffective solutions. Working together on this project demonstrates that electric utilities and stakeholders can benefit from pooling their learning, exchanging best practices, sharing resources, and providing mutual aid. This will be key to developing new business models, climate modeling, and technology developments and to pricing and managing risk. it also applies to cooperation with public authorities and other stakeholders, helping them to plan for improved resilience and adaptation in their businesses and communities. Pooling their technical expertise will also help to assess the risks, costs, and benefits to our customers and communities. optimal cooperation and cost-efficient adaptation also require a supportive regulatory framework. This is especially important to enhance the cross-sector and external benefits appropriate to local circumstances. The power industry is vital to increasing resilience to events such as the recent devastating storms in the united States and the Philippines. it is imperative that we learn the lessons they provide and work together to develop the kind of robust responses and strategies outlined in the WBcSd electric utilities project report. Climate Risks in the Power Sector climate change is creating substantial and varied risks for the electricity industry and for the customers who depend on the energy that utility companies provide. electric utilities will continue to pursue mitigation actions but also need to consider adaptation measures in anticipation of more frequent extreme events as well as more gradual long-term changes. september/october 2014 ieee power & energy magazine 35