The European energy market is undergoing a massive transformation as policy-makers envisage near complete decarbonisation of the power sector by mid-century. And with upheaval comes opportunity: utilities, companies and municipalities are looking for fresh engagement with the consumer or indeed ‘prosumer’, who will be at the heart of the new energy system.
THE NEW DEAL
Renewables such as wind and solar power – at low marginal cost and often decentralised – have turned the electricity market upside down. Utilities’ share prices have taken a battering as the market has stopped paying their way. Moreover, renewables and energy efficiency have climbed the political agenda: consumers want to buy less, not more, of what utilities have typically sold. The emerging ‘prosumer’ wants reliable, convenient, affordable energy. The question is, who will give it to them?