Why AI, data and security are critical in ‘the electric decade’

Energy Transition Talks

Tech CGI in Energy & Utilities CGI in Energy Energy Transition Hydrogen Artificial Intelligence Low Carbon Energy Business Utility Renewable Energy Grid Modernization Decarbonizing Smart Grid Energy Storage Digital Transformation Future Of Energy

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In part two of our Energy Transition Talks conversation with Eurelectric’s Secretary General Kristian Ruby, CGI experts Peter Warren and Tom van der Leest dive deeper into key opportunities, challenges and drivers of the energy transition discussed in part one. In this second instalment, they explore the necessity and complexity of regulation, the role of central markets in a decentralized future and the growing importance of electrification, AI and cybersecurity in the evolving energy market.

Regulation and the role of central markets in a decentralized future

Ensuring fairness and equal participation in the new energy market requires robust regulations. However, as the level of regulatory complexity increases, customers and policymakers alike are struggling to keep up. For customers, compliance with one regulation may be in direct violation of another, while policymakers face challenges in keeping pace with implementation and reporting as more rules are created.

As decentralization continues to be a key trend, the question arises: What is the role of central markets and the regulator in a decentralized future?

Kristian sees this question as critical and believes the local flexibility market will become much more prevalent in the coming years. “We will simply need, for the efficiency of operations and the reliability of operations, to have local flexibility sources and call upon them more frequently with more frequent market signals in order to stabilize an increasingly complex, digitized, complex and centralized grid.”

The decade of electricity has begun

Kristian identifies another area of ongoing evolution: the veracity and reliability of clean energy. “We talked about fair, we talked about reliable, but there's also the clean dimension. With green hydrogen, we want to make sure that it is actually green. That’s where all these questions come in about geographical proximity and the timely match of the actual clean electricity production with the electrolyzers. Setting up a digital platform and defining concrete products around that is the next challenge for digital companies and energy providers to determine together how that is going to look.”

Striking the right balance between environmental integrity and manageable systems is the key challenge at hand, Kristian says, as organizations move from proving their energy is green on an annual basis to hourly or quarterly intervals.

Kristian has no doubt that a multi-vector future will be the most efficient and cost-effective way forward but stresses that electricity is moving to the center of the energy system. Calling the 2020s “the electric decade,” he shares that the electricity sector is seeing unprecedented growth, expansion and change.

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#Tech #CGI in Energy & Utilities #CGI in Energy #Energy Transition #Hydrogen #Artificial Intelligence #Low Carbon Energy #Business #Utility #Renewable Energy #Grid Modernization #Decarbonizing #Smart Grid #Energy Storage #Digital Transformation #Future Of Energy