Page 47 - European Energy Innovation - autumn 2017 publication
P. 47
Autumn 2017 European Energy Innovation 47
POWER TRANSITION
reinforcing and modernising value networks, will provide Europe with a not only value energy, but also flexibility
chains and strengthening Europe’s resilient, flexible and highly efficient and security of supply. This will give the
competitiveness on a global scale. electricity system. right signals for efficient investments
and further push integration of national
The power sector will seek to innovate TRANSFORMING THE PRESENT markets.
and build new cross-sector business Achieving the energy transition means
models. Digitalisation, distributed that we also have a past and present The power sector is committed to
generation and technological progress to contend with. Many high-carbon finding sustainable solutions to
are changing the fundamentals of the assets are still in operation in several transform our society into a carbon-free
power business, with unprecedented European countries. At the same time, one, and to deal responsibly with the
levels of interaction. renewable energy assets developed existing carbon-intensive asset-base.
over recent years have changed the
In order to facilitate new business dynamics of electricity markets, markets Much has already been done, but the
models, the sector must partner which were originally designed to cater journey is far from over. The take-
with policy partners and societal for conventional technologies. up of electrification, empowered
organisations to lay down a solid customers through innovative solutions
framework for aggregation, demand To solve this, we need to complete and smart market designs, are all
response, peer-to-peer energy the integration of renewables and necessary elements for a sustainable
transactions and new cross-sector accelerate the restructuring of transformation. The power sector
business models that enhance electricity markets across Europe. is determined to seize this unique
customers’ participation in energy Customers expect competitive energy opportunity to make a positive change
markets. These new building blocks, pricing, as well as more and better and bring about a better future for
connected by smart distribution services. The new market design should Europe. l
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