2019 International Electricity Summit
image credit: © Enel Foundation
- Oct 15, 2019 11:15 pm GMT
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Enel Foundation Deputy Director Giuseppe Montesano was one of the participants of the 2019 International Electricity Summit taking place in Fukuoka, Japan on October 7-8th. The event is a regular gathering of senior executives from utilities and regional associations representing Europe, United States, Canada, Australia and Japan, dedicated to combat global warming in a spirit of international cooperation and goodwill.
This year’s Summit, hosted by the Federation of Electric Power Companies of Japan (FPEC), provided an overview of the major developments in the electricity sector and examined a global outlook on Electrification. Considering the need to decarbonize global economy, regional and country experts examined the opportunities and challenges electric power companies are facing regarding electrification in the transportation, industry and household sector.
A special emphasis was placed on the need to improve resilience, especially in light of the recent increase in frequency and intensity of natural disasters such as earthquakes or extreme weather, like heavy rain. The initiatives being implemented by utilities include interventions to ensure stable electricity supply by strengthening the power grid, efficient handling of renewable energies during disasters, but also preparations for quick power restoration and cybersecurity.
An important part of the discussion, led by Eurelectric where Giuseppe Montesano is Chair of the Committee on Electrification and Sustainability, focused on market design. In particular, the deployment of electricity pricing strategies to incentivize electrification and policies enabling returns on investments in power sources and grid infrastructures were examined as critical tools to decarbonize electricity and maintain a power supply system that is stable over the medium-to-long term.
While imagining the world in 2050, the future of electricity was discussed in-depth and served as main focus for the closing statement drafted by the attending delegations. The expected major changes in demand and supply, and the constant evolution of the industry towards new and flexible business models were taken under consideration in the final review.
The next International Summit will take place in Norway in autumn 2021.