The electricity sector is experiencing change at a pace and of a nature unlike anything seen before. New technologies, actors and business models are combining to transform its shape and structure beyond recognition. Transformation is evident in every part of the value chain - how electricity is produced, stored and consumed, how it is transported, how it is traded and how we, as consumers, engage with the sector.
A rapid growth in often renewable, decentralised generation, new trading and supply propositions, and technology solutions that allow consumers to interact directly with the market means that the sector today looks very different to how it looked yesterday. It will look undoubtedly very different again tomorrow.
Technology and innovation are playing a central role in this transformation.
From new means of generating and storing electricity, systems that optimise the flexibility of assets and platforms that allow flexibility to be traded - the opportunities for those looking to play a role in the changing market are abundant.
If the sector is to take full advantage of the enormous potential that technological and business innovation has to help deliver an affordable, secure low-carbon electricity sector, those challenges will need to be quickly grasped. The challenge the Great Britain (GB) market faces remains how best to deliver this?
Electricity Markets In Transition
Addressing the future of GB power markets, Gowling WLG, in collaboration with leading energy publication Cornwall Insight, has launched a new energy white paper, to further stimulate the debate surrounding transformational change in the sector.
This latest report considers:
- How technology is shaping transition in the electricity sector across different elements of the value chain: focusing on the generation, network, and retail sectors;
- How these links are becoming less distinct as technology and new practices begin to dissolve the once hard and fast barriers between them; and
- What this transition means for industry stakeholders, including investors, operators, and consumers, and the market outlook going forward.
The Electricity Markets in Transition report explores a range of issues and opinions on the future of electricity and evolutionary developments which continue to innovate and develop the sector on a daily basis.