Some commentators argue that the emergence of solar power, embedded storage and smart, distributed “plug and play” electricity grids will contribute to the most rapid and fundamental economic revolution since the internet. Others see changes in the energy market as important but incremental, with more limited and longer term implications.
In January 2017 G+T Competition + Regulation specialists Simon Muys and Geoff Petersen headed to the US and UK to gain a better understanding of global responses to disruptive and transformational changes in the energy market. Meeting with regulators, new energy businesses, peak industry groups, economic and legal experts, financiers and leading academics, Simon and Geoff explored different views and attitudes towards emerging energy market developments and their implications for energy market regulation - blogging their insights along the way.
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Simon and Geoff have recently written an Op-Ed piece which can be found here.
In this blog, Simon and Geoff share five insights after meeting with two local experts in the energy sector, Karin Corfee, the Managing Director - Energy from Navigant and Chris Pleatsikas from CRA International.
Simon and Geoff outline the key takeaways from their time on the east coast, which has provided a taste of things to come - bringing home the scale of the challenge we face in modernising the energy systems and related regulatory frameworks.
Simon and Geoff have spent the day in London speaking to the most senior public servants responsible for energy policy and regulation here in the UK. They also met separately with Ben Eyre-White, who is the head of Electricity System Strategy for the Department.
Simon and Geoff have spent the day at Cambridge and in London. Earlier in the morning, they met with Professors David Newbery and Michael Pollitt. They then returned to London to meet with UK Power Networks, before heading out to dinner with George Yarrow.
On their last day in London Simon and Geoff meet with Paul Dawson, Head of Market Design and Regulatory Affairs at RWE. Geoff also met with Nick Winser CBE, CEO of National Grid, the UK transmission business.
The final leg of our trip took us to London, where we spent most of our time speaking to representatives of the UK Government, Ofgem, network businesses and retailers, followed by a morning at Cambridge university with two leading academics.