Smart grid is a promising power delivery infrastructure integrated with communication and information technologies. Its bi-directional communication and electricity flow enable both utilities and customers to monitor, predict, and manage energy usage. It also advances energy and environmental sustainability through the integration of vast distributed energy resources. Deploying such a green electric system has enormous and far-reaching economic and social benefits. Nevertheless, increased interconnection and integration also introduce cybervulnerabilities into the grid. Failure to address these problems will hinder the modernization of the existing power system. In order to build a reliable smart grid, an overview of relevant cyber security and privacy issues is presented. Based on current literatures, several potential research fields are discussed at the end of this paper. © 2012 IEEE.