Transformation of the Electricity Sector: Technology, Policy and Business Models

Electricity is in ferment – an unusual state for an industry which has traditionally been used to enjoying the stability of long term assets, steadily growing demand and secure revenues.  But these secure foundations are now coming into question as the industry faces major technological, economic and institutional change.
Perhaps most visible are the developments in electricity generation – the growing penetration of intermittent renewable generation, driven both by technological advances and by the policy commitment to decarbonisation.  Significant changes are also taking place elsewhere in the system, with the rapid development of information and control technology, which is opening the way for new approaches to system management and more flexible demand.  It is likely that we are only seeing the beginnings of these changes – they raise wider questions about the very nature of the industry’s product and its relationship with its customers. …

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