Abstract: this report suggests power system reliability is threatened by two factors: the variability of generation sources to facilitate the clean energy transition; and climate-induced extreme weather events that can lead to cascading impacts through the electricity value chain. Electricity is crucial in ensuring optimum healthcare, education, quality of life, and sustained economic development. As countries embed clean energy and move to a standard all-round electrification practice, the health of the power system assumes greater significance. Not accounting for climate risks can burden or delay the pursuit of the clean energy transition. Further, there is a need for diversified supply chains to hedge against material availability risk, and ensure circular economic frameworks to maximise resource value.