International law firm Gowling WLG has launched a new white paper, Electricity Markets in Transition, in partnership with energy consultants, Cornwall Insight, which explores the changing face of the electricity sector and how new technologies are transforming it beyond recognition.
Experts from Gowling WLG and Cornwall Insight were joined by guest speakers from National Grid, Barclays and Octopus Investments at a launch event on 6th March 2018 to discuss how the rapid advance of technology is set to, and in some areas, already is, fundamentally changing the way electricity is sourced, stored and delivered.
The white paper discusses how technology is shaping transition in the electricity sector across different elements of the value chain: generation, network, and retail. The once distinct lines between the generation, transportation and supply of electricity have become blurred, with technological solutions meaning that the sector today looks very different to how it did yesterday.
The impact this change has on the individual entities that fuel the electricity sector - from policy makers and regulators to investors and new and existing industry participants - was also a key strand of the event's discussion.
Commenting on the white paper launch, Head of Energy and Partner at Gowling WLG, Derek Goodban, said:
"The electricity sector is experiencing change at a pace and of a nature unlike anything seen before, with new technologies and business models set to irrevocably change its shape and structure beyond recognition.
"The transformative nature of modern technological processes means that the energy market of tomorrow will look nothing like it does today. The challenges and opportunities that this poses requires ongoing consideration and collaboration across the sector, and we hope this white paper continues to stimulate this debate."
Download the full report here.