CEOs of major electrical supply companies have once again issued a joint warning to consumers and governments that the level of investment in power infrastructure will need to increase sharply in the near future. Aging infrastructure needs to be replaced, and it will have to be replaced with installations that are more expensive than what came before. New infrastructure will need to be more resilient and cognizant of new consumer expectations and the risk posed by climate change. The CEOs met recently in New York, under the banner of GO15, a voluntary association of 16 of the largest power grid operators in the world, who are collectively responsible for bringing reliable power to over 3.4 billion people.
“All of the world’s grids share a similar problem,” says Terry Boston, CEO and President of PJM Interconnection and GO15 president. “We all face reliability and operational challenges in a rapidly changing industry. The specifics of those challenges may differ from nation to nation, such as how best to connect renewable generation that is often far from population centers, the retirement of conventional power plants and the rapid growth of electricity use in emerging economies. Sharing how each of us approaches these challenges helps all of us manage them more effectively.”
The group notes that “the challenges require power grids to upgrade grid infrastructure and expand interconnections between power systems. … Investment is also needed to develop the IT systems and smart IT systems required for the monitoring and control of power flows under increasingly complex operational conditions.”
See also “Experts assess risks and opportunities for adapting to extreme weather” IPPSO FACTO, November 2013.