Making markets ready for the Energy Transition

SPEAKERS

Nur Bekri
Director, National Energy Administration, People’s Republic of China
 
Miguel Arias Cañete
Commissioner Climate Action and Energy, European Commission
 
Abderrahim El Hafidi
Secretary General of the Ministry of Energy, Mines, Water and the Environment, Morocco
 
Claude Turmes
President, European Forum for Renewable Energy Sources (EUFORES), MEP
 
Mr. Ng Wai Choong
CEO, Energy Market Authority, Singapore
 
Lisa Davis
Member of the Managing Board of Siemens

SESSION SUMMARY

GUIDING QUESTIONS:
How should markets work to facilitate investment in new energy production capacities and infrastructure?
How can they help coordinate global policies and promote confidence among investors?

Private and corporate investment plays an important role in successfully implementing the transition from highly emitting to low or zero carbon energy production for all energy services: power, heating & cooling, as well as transport. Utility companies are struggling to develop future-proof business models, and new players are entering the energy sector. IT companies are revolutionising the energy system, large retailers are stimulating demand and decentralised, community-based projects are gaining momentum.

The transition towards a decarbonised energy system requires enabling regulatory and legislative authorities to make networks and markets ready for rapid growth of new energy sources and new market players. A range of policies are designed to attract investors and facilitate innovation. Pressing questions arise, such as how to develop and maintain reliable regulatory frameworks that support confidence and promote bold investment in decarbonisation.

The Paris Agreement is widely considered to be an excellent enabler for strong momentum toward green investment, because it provides a reliable framework for widely accelerated growth in the domains of renewable energy and energy efficiency. At the same time, this momentum may falter, as policy changes appear highly likely in the US. The panel will address current challenges and opportunities.