By 2020 car companies could provide energy to households across Europe, according to a white paper at Vlerick Business School.
The paper looks at how recent developments will affect the energy market and impact businesses and consumers alike. Professor Leonardo Meeus, leading energy expert and advisor of the European Commission on energy, talks about the four big energy game changers that could disrupt the electricity market;
1. New players
Car manufacturers have already started looking at ways to supply households with energy. Data mining could give companies like Google insight into how and where we consume energy. This data might be used to promote tailored products and services.
Soon consumers and businesses will realise they can source their own energy (i.e. solar panels, wind farms, etc.) and will no longer need to connect to the existing power grid. By 2030 households could exchange more electricity via private networks than is transported over the centralised electricity network.
The organisation of this industry is changing and unexpected partnerships between companies that operate in different fields arise. By 2030 electricity could be provided by a business, a multinational or the water company.
Developing a European energy market is trivial. So far all the discussions have been on whether electricity would come from a neighbour country, North Africa or the North Sea. But the more ardent question is who will be transporting this energy.
Prof Meeus says: ‘’ The energy sector is likely to face more changes in the next 10 years than in the past 100. If we only look back at the past five years, no one could have predicted the changes we see today. The sector as well as the relationship dynamics are changing dramatically (i.e. relationship with the customer, the impact of renewables, you name it – it is all changing). If we look at Vienna we have seen a recent merger between the electricity network and the natural gas supplier, as well as telecoms provider and the heating district networks. Australia for example has run different energy scenarios and is expecting a third of its consumers to leave the energy grid. The speed of change we are experiencing today is so fast that we need very good training and smart ways of making people think how to react to these changes.’’
For more information or to speak to Prof. Meeus please contact Alexandra Dobocan at email@example.com or call +44 (0)1582 790 709
Notes to the Editor:
About Vlerick Business School (http://www.vlerick.com)
Founded in 1953, Vlerick Business School is a leading international school which is consistently ranked amongst the top business schools in Europe and the world. Its fully accredited education programmes are built on a strong tradition of innovation and independent research.
Recently, The Elia Group, one of Europe's top five system operators, has joined forces with Vlerick Business School to establish a Chair that will look closely at the future of the energy landscape, and more specifically the impact on electricity grids. In the near future, the grid operators’ sector will have to face major changes resulting from developments in the field of technology, regulation and market organisation. The Chair will be in place for a five-year period.
Jacques Vandermeiren, CEO of the Elia Group and a supporter of the Chair, underscores the importance of cooperation in this area: “Cooperation at a European level is more necessary than ever. Everyone ultimately wants the same thing: to maintain security of supply, continue to tackle climate change and integrate renewables, give financial guarantees to investors, while involving consumers and offering them a choice. This Chair will provide the Elia Group with insights into how we can address these challenges at a European level.”
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