Credera was delighted to sponsor the Energy UK Annual Conference this year, which focused on a ‘Decade of Delivery’ on the road to net zero. It was a pleasure to be a part of the day and surrounded by the talent and passion that the industry has to offer. We heard from several key figures in the industry including Kwasi Kwarteng, Secretary of State for BEIS, Jonathan Brierley, CEO of OFGEM, and Emma Pinchbeck, CEO of Energy UK.
Reflecting on the challenges that lie ahead in reaching our goal of net zero by 2035, and in light of the recent challenges of the gas market, the event was particularly poignant.
For us, three key themes shone through:
1. Greater consumer insights and a focus on consumer empowerment
We need to get to know our consumers. How much energy do they need? When do they need it, and why? This information will enable smarter, greener ways of delivering energy services.
Equally, if we are to reach net zero, we can’t do it without unleashing the collective power of the consumer. An overwhelming number of choices are available to us as consumers on how to change our behaviour – what to buy in the supermarket, how to change our diet, what home improvements we should prioritise. We have won the big sell and consumers are onboard with net zero, but how do we educate, inform, and empower them to really make a difference? There is a clear need to educate and help consumers to take specific actions to help them do their bit in reducing emissions.
Consumers need to be at the heart of this transition to net zero. To get there, we need to introduce smarter energy products and services to allow consumers to make sustainable choices.
2. Multi-lateral, collaborative approaches
It will require a collective effort to reach net zero, with rapid change and commitments required across industry, government, regulators, utilities, and us as the consumers. It is absolutely essential that all parties work in partnership to drive the change that will provide us all with a low carbon future.
Central to driving this change within the required timelines will be effective government policies, continued investment in R&D, and open dialogue between government, regulators, utilities, and other stakeholders.
Electrification of our energy network is essential to reaching net zero, which will require a huge amount of innovation and digitalization across the energy network. Matching fluctuating energy demands with renewables supply will need an overhaul to our grid. At the same time, complex forecasting and modelling capabilities will be required to ensure that the grid remains resilient and reliable. Storage technologies will be key to the success of electrification of the grid and whilst it is a fast-maturing industry, we aren’t there yet. Investment in this area is crucial if we are to reach our goals.
We would like to hear your thoughts – what were your key takeaways? Do any of these themes resonate with you? If you are interested in discussing the topics outlined in this blog with one of our experts, please get in touch.