Electricity is becoming increasingly vital for our economy and society. Levels of electricity grid access are increasing worldwide with ever more countries reaching full access, and industry and citizens expect maximum levels or reliability, as even short disruptions can have widespread economic impact. The power system of the future will face three challenges that are particularly relevant:
- the energy transition impact of decentralisation, renewables and fossil fuel phase-out on short-term stability and long-term system adequacy,
- the impact of digitalisation on the risk of cyberattacks, and
- resilience to climate trends and extreme weather events.
On 27 October 2020, the IEA presented Power Systems in Transition, the first IEA report on electricity security. Following that report and our Member Countries mandate, the IEA has developed three in-depth reports in order to shed more light on the main security challenges to the power sector in the coming years, providing recommendations for policy makers striving for cleaner and more affordable power systems.
On Monday 12 April at 16:00 CEST, the IEA will launch its Electricity Security report which addresses for the first time three key aspects in one report:
- Secure Energy Transitions
- Cyber Resilience
- Climate Resilience
The report on Secure Energy Transitions covers the areas of system adequacy, investment signals in market design, flexibility, system balancing and stability.
The report on Cyber Resilience focuses on using real-world examples to identify and manage cyber risks to electricity systems.
The report on Climate Resilience provides an analysis on the impact of climate change on the entire value chain of electricity systems.
The authors will present the report results, discussing global case studies and recommendations to guide policy actions at the technical, economic and political layer. After the presentation, a Q&A session will be held for participants to ask questions.
The IEA’s role as the organiser of this event is facilitated through IEA’s Clean Energy Transitions in Emerging Economies programme, which has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 952363.