Society depends on a secure electricity supply which is increasingly important as various sectors are being electrified to substitute fossil fuels. The sustainability targets for the future cannot be met unless the necessary transformation of the power system is addressed. The future power system should be renewable, flexible, intelligent, secure, and resilient. This transformation should be made at acceptable costs, without jeopardising the security of electricity supply. The electricity grid is a crucial enabler for the energy transition. Intensified electrification and digitalisation imposes new challenges and requirements for the grid. At the same time, the power system will be more exposed to natural disasters in the future due to climate change and increased weather-related stress. It is important to understand the new risk picture and find the right strategies for dealing with the security of electricity supply in the future power system.