The Future of Electricity
As Organization for Economic Cooperation and Development (OECD) countries seek to transition to a low carbon electricity system, the electricity industry’s landscape is undergoing an unprecedented transformation. A mix of technological, economic, regulatory, environmental and societal factors is resulting in a lower carbon, digitized electricity system with new players emerging, challenging the traditional utility model.
At the same time these changes are occurring, the International Energy Agency estimates that OECD countries will require an investment of almost $8 trillion through 2040 to achieve a successful low carbon transition. In a sector accustomed to stable policy frameworks and long-term investment cycles, the industry’s transformation presents policy uncertainties and market design complexities.
The World Economic Forum today released the Future of Electricity report – a set of recommendations for policy-makers, regulators and businesses to attract investment to the electricity sector in OECD markets.
GE Power CEO and President Steve Bolze, serving as co-Chair of the WEF Energy Utilities & Energy Technology Steering Committee, and other global electricity industry leaders will discuss the Future of Electricity report on Thursday. The report aims to engage relevant stakeholders in defining options for making the electricity sector more sustainable for society.