Expert commentary
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Expert commentary: Greater resilience required
The energy industry will continue to be at the forefront of adapting to change, particularly as the climate emergency becomes an ever-increasing priority for the public, governments and regulators. Responding to the challenges of the energy transition by taking full advantage of data and disruptive technologies will be one of the key ways in which industry participants can thrive. The use of digital tools highlighted at this event will be critical to delivering a system with higher efficiency and resilience to events which can adversely impact the supply of energy to consumers. Without fully leveraging data, for instance to increase the visibility of energy assets and how they interact with each other, the stability of the energy system is at risk. This is a pressing issue. Last summer saw the disconnection of more than a million electricity customers in Britain's largest single electricity system disturbance in over 10 years, which was worsened by the loss of distributed generation. The Electricity System Operator and Distribution Network Operators only have estimates of how much power was lost during this event largely because there is still a lack of visibility, monitoring or control of it.
It's clear that a smarter, more transparent energy system will be required as the transition to decentralised, smaller, less predictable sources of energy continues at pace. Using innovations like smart contracts, blockchain and machine learning we can greatly increase our understanding of risks, predict outages and find ways to build in greater system durability. Helping businesses deal with the multifaceted effects of decarbonising, decentralising and digitising the energy system is an area where Clyde & Co is particularly active, with extensive experience advising a range of clients on the complex issues it raises and how to adapt to these forces. Using our leading edge expertise in the energy, construction, data and technology sectors, Clyde & Co’s Resilience Campaign is dedicated to helping businesses understand the latest thinking on risk management, the regulatory landscape and what the future may hold. For more information on the issues raised in this report, please contact Richard Power.
Richard Power Partner, London T +44 20 7876 4827 E
richard.power@clydeco.com
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