5 October 2022
This week we’re joined by Andy Bradley, Partner in our energy team, LCP Delta. Andy’s work covers what’s known as the “demand side” of the energy system spanning areas like energy efficiency, storage and smart meters. We discuss some of the features of the UK energy market that have contributed to the current moment and how these might change.
We explore how the low-carbon energy transition relates to the current crisis and how the solutions being deployed for the transition also help address today’s issues.
We also cover trends in the energy industry including efficiency, electrification, flexibility and storage, and how the demand side is set to take centre stage in the energy transition.
Finally, we discuss how fundamentally different a decentralized energy grid based around renewables is compared to the current system and the implications. Anyone interested in understanding today’s energy market, and some of the challenges, as well as opportunities, will get a lot out of listening.
- Background on the UK energy market, and some of the structural features that have compounded/created the current crisis
- What are the most important trends in the market that are arising from this crisis?
- Energy efficiency
- Electrification and Digitalization
- Flexibility and storage
- What are some of the medium term ways the UK energy market might evolve differently out of this?
- Where is there innovation and investment happening in the UK/European energy industry?
- What are some of the key things to watch over coming months and years?
One thing to take away:
The energy crisis and the energy transition are aligned, the current crisis will accelerate the transition.
The most underappreciated thing:
Energy and investing are similar and are aligned, they can get bad press but do a lot of good. Effective deployment of lazy capital does a huge amount of good and that’s underappreciated. Outside the energy industry, it isn’t appreciated how complex the electricity grid is, and the challenge involved in changing it – like rebuilding a jumbo jet in mid-air.
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