Energy Industry ‘In The Middle Of Transformation’
The energy industry is set to experience some dramatic changes and the UK needs to be leading these developments, according to the government.
Permanent secretary at the Department for Business, Energy and Industrial Strategy spoke at the Utility Week Energy Summit yesterday (June 21st), talking about the country’s energy policy and what changes need to occur.
He stated: “The sector is in the midst of a transformation as the top-down model focused on centralised generation gives way to a new and more dynamic market.”
Many areas are developing rapidly, including the growing popularity of renewable energy, the digital revolution, the adoption of smart meters and small-scale generation.
While the UK has traditionally faced a ‘trilemma’, with considerations given to security of supply, cost and decarbonisation, Mr Chisholm stated that the forthcoming transformation in the sector can help the country move beyond these challenges.
He commented that placing the UK at the forefront of change, it will be able to avoid the ‘trilemma’ by “integrating large amounts of renewables, while maintaining security of supply and keeping costs down”.
One of the ways to achieve this is to surpass the goals set by the , which called for a reduction of emissions by 80 per cent between 1990 and 2050. Britain has so far cut its emissions by 42 per cent.
Mr Chilsholm noted that as “world leaders in innovation in technology, systems and market design”, the UK must continue to work hard at meeting – and exceeding – green energy targets to remain an important player in the energy industry.
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