save money for consumers and put more power and control in their hands because they can generate, store and exchange their own energy. They can use smart technology to dynamically manage their energy use, consuming energy at more convenient or less expensive times to suit their individual preferences. It will reduce the high peaks that network operators need to build capacity for because ‘internet of energy’ technology and improved access to data will enable consumer needs to be better understood, peaks to be smoothed, and energy consumption to be more evenly distributed, leading to greater network utilisation and efficiency. To use a transport analogy, it means avoiding the cost of building a six-lane motorway for the peak hour because traffic can be spread across the whole day. It will help maintain existing network infrastructure more efficiently, because technology can be deployed to optimise
maintenance programmes, identify and pre-empt problems before they occur, and restore power more seamlessly and quickly following any unexpected outages, such as the storm damage experienced in early January 2018. Having a significantly greater number of renewable and localised electricity generation sources will also help address one of the most pressing issues we face as a nation. Increasingly, climate change is altering New Zealand weather patterns. This means we must factor an increase in the number of ‘1 in 100 year’ extreme weather events and an increase in the risk of drought, with the consequent impact on New Zealand’s lake levels, so critical to our energy supply. Already, New Zealand has seen examples in 2017 of wholesale energy prices rising significantly due to the risks of a dry year. This is why a system wide view of operating energy infrastructure more sustainably is a critical need for New Zealand, and this is why Vector has signed up to the United Nations Sustainable Development Goals. Electricity will play a key role in helping to shift New Zealand to a low carbon economy, and technology will be a critical enabler. The electrification of transport is also an emerging factor. The number of electric vehicles (EV’s) on our roads is roughly doubling year on year, and EV costs are coming down, so energy systems must have the resiliency to cope with a surge in localised demand from more EV’s being charged and EV’s with longer range being introduced.
A scenario is emerging where what is good for consumers is also good for our environment, for network resiliency, for Auckland and,
ultimately, for New Zealand.
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