Utilities: Powerhouses of Innovation
- Power Generation
- Power Distribution
- Economic & Social
- Power Statistics & Facts
The electricity sector is determined to play its part in meeting the challenge of climate change. With the right policy framework, we could reduce carbon emissions by up to 90% by 2050. To deliver on this commitment, we need to make use of all low-carbon technologies. This means more renewables, but also clean coal and gas, and nuclear. Energy efficiency will also be a cornerstone in this challenge: efficient electric technologies in sectors such as transport and housing will play a key role in reducing energy consumption. A major push in energy efficiency is needed, underpinned by the timely deployment of smart grids.
Markets are the most efficient instrument to produce electricity and reduce emissions in an economic way. Energy and carbon markets are the best solutions to ensure an environmentally secure, reliable and economic supply of electricity to customers, especially if an international climate agreement is reached and a global emissions market develops.
To offer our customers the full benefits of liberalisation, market integration is crucial. It would ensure the best use of the European electricity generation mix, increase customer choice, improve security of supply and allow full EU-wide competition. Market integration is also fundamental for the timely deployment of renewables. The EU's 20% renewables target by 2020 makes the case for market integration even more compelling. It is therefore essential that Europe boosts and accelerates the harmonisation of all major policies affecting electricity.