Energy leaders talk grid challenges at Aurora Spring Forum in Oxford
Aurora Energy Research recently held its tenth annual Spring Forum in Oxford, where the company is headquartered.
More than 400 attendees from around the world gathered to discuss critical energy topics, including power demand-supply dynamics, grid connection challenges, sector resilience strategies and investment potential.
With demand for power expected to double by 2050, National Grid CEO and keynote speaker John Pettigrew called for an ultra-high voltage ‘super-supergrid’ to effectively address the UK’s long-term electricity requirements.
Ana Isabel Barillas, MD for Iberia & LATAM at Aurora, also noted that a collective investment of more than £728 billion is required to successfully integrate renewable energy into the European grid between now and 2030.
That translates to around £121 billion each year – more than double that which was spent in 2022.
As it stands, in the last year alone, 30 TWh of generation were lost across 6 countries in Europe due to grid curtailment, coming at a cost of over £7.7 billion.
But speakers were also optimistic about the resilience of American and European energy markets despite recent geopolitical shifts; a surge in renewable investment which surpassed £85 billion in 2023 alone; and the emerging role of hydrogen as a pivotal energy resource.
Ana said: “As always, the Aurora Spring Forum allowed key executives and thought leaders in the energy industry a space to discuss and debate the key issues affecting the energy transition.
“I was particularly struck by how grids have become so central to the debate, and how much agreement there is on the scale of the challenge and the need for immediate and wholescale reform to how we think about investments in both distribution and transmission grids across Europe, as well as the management of grid connection queues across Europe.
“Challenges such as supply chain constraints, availability and cost of capital, and the pace of permitting and development are shared barriers to both grid and renewable investment.
“However, it’s the conventional regulatory frameworks governing grid development that pose a significant challenge going forward.
“As we pivot towards an era dominated by renewable energy, these frameworks must evolve to anticipate and accommodate the substantial influx of renewables needed to reach net zero targets in Europe.”
Read more - Aurora Energy Research secures global HQ in heart of Oxford
