KPMG`s flagship industry conference has again brought together more than 30 speakers and over 250 senior executives from the global power and utilities industry to discuss the global environmental and supply challenges, innovation and technology, regulation in power and gas, successful business models for renewables and new trends in energy financing.
The diverse group of attendees included entrepreneurs, political
representatives, industry luminaries and KPMG subject matter experts. The
conference provided an in-depth insight into the different global power &
utility markets that, regardless of varying dynamics are all undergoing
unprecedented change and transformation.
Speaker and panelists made it clear that there is a growing consensus within industry, regulators and politicians to find a market design that fits the new energy world.
Panelists pointed out that energy-related technology is developing faster than the regulatory framework needed to integrate it.
EU Emissions Trading system (ETS) covers around 45 percent of total greenhouse gas emissions from the 28 EU countries. The existing ETS, however, does not necessarily meet the EU's long-term climate policy objectives. There is an increasing debate on the extent to which it can incentivize the low-carbon investments required to meet the ambitious long-term goals up to 2050.
Decentralized energy will gain further momentum. The big energy providers are confronted with existential questions. Survival in a decentralized energy world means redefining their role by guaranteeing the balance between demand and supply and developing new services on the basis of smart data management.
Utilities are likely to increasingly converge with telecommunications: Already today utility and telecommunications companies are working together to explore how telecommunications services and solutions will be provided for Europe's future smart energy networks, together with a broad range of other bundled services.
Utility companies are focusing on their customers more than ever before. Successful new business models are being developed especially in renewable energies and new services brought into existing industries. However, the “prosumers” desire “to get off the grid” remains especially challenging.
The abundance of fossil fuels due to the falling price of oil and the shale gas revolution is a challenge to the world’s shift to renewable sources of energy, such as wind and solar power. < >Private sector participation is essential to meet energy investment needs in full, but mobilising private investors and capital will require a concerted effort to reduce political and regulatory uncertainties.
The 2016 conference was held in Brussels, Belgium.