On September 15, 2011, the Federal Energy Regulatory Commission issued a Notice of Proposed Rulemaking in which it proposed approving Version 4 of the Critical Infrastructure Protection Reliability Standards CIP-002 through CIP-009. The change in Version 4 centers on the identification of Critical Assets, the “facilities, systems, and equipment which, if destroyed, degraded, or otherwise rendered unavailable, would affect the reliability or operability of the Bulk Electric System.” Identifying Critical Assets is the first step in identifying Critical Cyber Assets, a focus of Reliability Standards CIP-003 through CIP-009. Under Version 4, responsible entities would no longer use a risk-based assessment methodology to identify Critical Assets but instead would apply 17 “bright line” criteria listed in Attachment 1 to CIP-002-4. These criteria establish thresholds for specific types of facilities such as generating units (=1500 MW for group at single location), transmission lines (=500 kV), and control centers. FERC estimates that this will result in a significant increase in the number of facilities identified as Critical Assets. A more detailed summary of the Notice of Proposed Rulemaking is attached.