WASHINGTON — The International Electricity Summit met at Washington, D.C. on 9-10th April, gathering leaders from the world’s major electric power associations: the Australian energy associations; the Canadian Electricity Association; the Edison Electric Institute; Eurelectric (the association representing the European electricity industry); and the Federation of Electric Power Companies of Japan. On the 25th Anniversary of the first Summit, also held at Washington, these associations jointly issue this statement.
As leaders of the electric power industry worldwide, we recognize that the global electricity sector is in the midst of a profound transformation. We believe that customers must be at the center of the transformation. The confluence of new and clean technologies, evolving public policy and rapidly changing customer expectations is giving rise to a new reality for electricity providers around the world.
With progressive decarbonisation of power generation, electrification will accelerate the clean energy transition in other sectors by offering competitive energy as a transformation tool for customers, cities and communities. Clean electricity, as the foundation of our evolving future energy systems, will bring immediate and tangible improvements in the form of cleaner air and reduced greenhouse gas emissions. Electricity will also deliver improved customer experience including new digital energy services and enhanced energy efficiency. Electricity will also enable emission-free mobility, and contribute to resource-efficient industrial processes.
Investments are needed in clean power generation, innovation and transition-enabling technologies throughout the entire electricity value chain. It is also important to invest in
sustainability in the existing assets in all parts of our value chain and take measures to support the long-term transformation toward a low-carbon future. New policies will create
significant opportunities to generate and deliver reliable and cleaner electricity more affordably than ever before.
The member companies of our Associations keenly recognize both the challenges and opportunities of navigating our rapidly changing landscape, and are enthusiastically stepping
up to deliver for all customers, recognizing also that there are multiple pathways to that goal.
At the heart of accomplishing the energy transition is the significant potential offered by the widespread deployment of smarter energy infrastructure around the world. The elements of an improved infrastructure, which include energy storage, grid hardening/strengthening, advanced metering, ubiquitous sensing and automation, micro-grids, cyber protection and hydrogen. They form the backbone of the evolving modern energy system, and also facilitate the integration of renewable energy sources such as solar and wind.
A smarter energy grid with suitable pricing structures will increasingly enable the rapid deployment of electric transportation and cleaner energies, yielding both customer and
Central to the efforts of making the energy system more responsive, resilient and efficient are policies that also recognize the crucial role of fuel diversity in electric generation, enhancing demand-side response and developing a digital grid.
Recognizing the foregoing, the electricity Associations represented here in Washington, D.C. are all deeply committed to playing their part to help implement a modernized energy grid among their member companies globally, and harnessing the many benefits arising from that commitment. In this regard, local pathways are of critical importance.
We also recognize the challenges, including cost and regulatory considerations, in advancing the rapid and widespread integration and deployment of innovative solutions. In particular, rate/pricing and regulatory policies will need to become more innovative and flexible to stimulate the needed investments. We believe that these costs are outweighed by the many benefits.
Therefore, we call upon policymakers and regulators worldwide to recognize the vital benefits that can and will flow to customers and society at large by adopting public policies that will spur the development of a modernized energy system.
We call upon policymakers and stakeholders to accelerate this process through regulatory innovation and customer engagement that promotes efficient investment across the value
chain. Furthermore, promoting electrification, particularly in the areas of transportation, homes, industry and smart communities, will power economies worldwide, while also
creating a cleaner environment. Ultimately, a modernized energy grid will continue to serve as the critical linchpin of delivering safe, reliable, affordable and clean electricity around the globe.
In light of this shared imperative, the associations commit to ongoing collaborative dialogue and action in between Summits to promote:
• Customer engagement and empowerment;
• Electrification strategies for transportation, homes, industry, and smart communities;
• Smart energy infrastructure including energy storage;
• Regulatory solutions to promote industry innovation and efficient investment;
• Cybersecurity protections and resilience.