Creating a consumer-centric future of energy
Energy UK is today launching a project to identify the challenges and opportunities of delivering a clean, green future energy system that meets consumer expectations.
The ‘Future of Energy’ vision document, which will be launched at Energy UK’s annual parliamentary reception this evening, looks ahead to 2028 (twenty years after the Climate Change Act was passed) and what suppliers, generators and other players in the industry will deliver in the energy market of the future.
With the sector already undergoing rapid transformation, Energy UK, whose 100+ members represent the diverse range of the industry, is to examine the specific challenges and decisions that face the industry - and the country - across a number of areas as change accelerates further, not just in the power market itself, but in related sectors such as transport and heating.
Meeting these future challenges and providing a system that consumers see as fair and giving value for money, will deliver benefits not only for customers and the sector - but also for the environment and the UK economy as a whole.
Over the course of the year Energy UK will publish a number of thought pieces following consultation with members and other stakeholders. These will propose options to address issues across a spectrum of areas, from funding future generation and system services to improving energy efficiency for domestic, industrial and commercial customers.
Lawrence Slade, chief executive of Energy UK, said:
“The way we consume, generate and transmit power is changing rapidly - as shown by solar providing record levels of power over the past weekend and the UK recently going three days without any coal generation. The future energy market will be unrecognisable from the one we have known.
“The energy system of the future will be smarter, cleaner, decentralised and diverse. It will offer multiple opportunities to benefit customers, the UK economy and the environment. Technological advances can transform not just how we generate and use energy but also our experience as customers.
“However, enabling this revolution sets a number of challenges and questions for us all. It will require the funding and creation of different infrastructure and sources, a level playing field for the growing number of participants and most importantly fairness so that all customers, including the vulnerable, benefit from these advances.
“The range of expertise and experience we have across our membership will play an integral role as we set out how best to meet these challenges.”
The Future of Energy vision document is available on the Energy UK website and sets out the specific topics to be addressed in a series of publications later this year:
- Funding future electricity generation and system services
- Transporting energy to and from customers through transmission & distribution networks
- The future retail market and customers’ relationship with it
- Meeting the needs of vulnerable customers
- Improving energy efficiency for domestic, industrial and commercial customers
- How we can sustainably transition to a low carbon heating system
- How we can deliver a smooth customer experience in transitioning to a low carbon transport system