Time to revolutionise the transition
The Power Summit returned today with a clear message: If ever there was a time to change the rules of the game, this is it.
Energy prices are skyrocketing. The war in Ukraine has put Europe’s energy independence at the top of the political agenda. The Electric Decade, a revolution powered by clean and decarbonised electricity, must accelerate drastically to keep up with a changing geopolitical landscape.
Day 1 of the Power Summit was dedicated to discussion on which game changers, which structural solutions, we can use to answer this call.
The solutions are at hand
An accelerated energy transition and electrification is Europe's best response to the twin climate and geopolitical crises.
To help establish the trajectory we need Eurelectric has released a set of policy recommendations based around five Game Changers.
- Raise the game on clean and renewable power generation
- Electrify everything that can be electrified
- Strengthen distribution grids
- Secure investments
- Protect customers
Read our full paper here.
In addition to our policy recommendations Accenture released a report also titled Game Changers which explores the game changing threat to our society from the twin climate and price crises and the Game Changers we have on hand to respond to them.
Read the Accenture report here.
Today's experts in their own words
"We have the responsibility to position our association as a front runner in the fight against climate change" - Jean-Bernard Lévy, CEO, EDF
"The good news is we can build on our Green deal goals ... again electrification will be the route to success" - Kadri Simson, Commissioner for Energy
"The time to act was yesterday ... Europe needs to enter a phase of unprecedented acceleration" - Melissa Stark, Global RES Lead, Accenture
"Permitting is a key stumbling block - we can't afford to wait" - Catharina Sikow-Magny, Director DG ENER
Any rushed interventions are the best recipe for mistakes" - Christophe Gence-Creux, Head of Department, ACER
Redefining Energy Live Special
Today also hosted a special live episode of the Redefining Energy podcast. Hosts Laurent Segalen and Gerard Reid talked to Jorgo Chatzimarkakis, CEO of Hydrogen Europe, on the future role of Hydrogen in ensuring a clean and decarbonised future.
- Electric Decade – Energy prices changing the investment game
- Hydrogen: A good game changer for industry?
- Market Design 2.0: Which game plan for customer engagement?
- Digital disruption: how data creates a whole new ball game
Sitting down with our sponsors
After a great start to the Power Summit, we sat down with Wytse Kaastra, Managing Director for Utilities & Energy Transition Europe at Accenture, to ask him about his key takeaways.
After a three-year gap, how glad are you to be back at an in-person Power Summit?
Extremely glad, its always a great way to meet new people and be exposed to new insights. Especially on the side of the main events.
What was your biggest takeaway from the opening plenary on energy prices?
My main takeaway is that to drive the transition there are several interconnected game changing factors that have to move together in the right direction.
From the conversations today, what stood out to you as the Game Changing factor for the energy transition?
The need for a new market design for the pricing of electricity that moves from a marginal gas-orientated system to a much more renewable, CapX heavy model, incorporating the fair pricing of flexibility.
What are you most looking forward to from Day 2 of the Power Summit?
I’m very interested in looking more into how we can find a win-win solution to climate and biodiversity issues.