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2018-09-05The Future of Electricity

Foro Económico Mundial |In order to meet long term carbon reduction goals and fulfill the need for growing energy demand, hastening the deployment of decentralization, digitalization and the electrification of new energy uses such as mobility, is critical.

The Forum has developed a model for a country-led, multi-stakeholder approach to adopting frameworks which would accelerate the adoption and deployment of these trends. Encompassing policy, infrastructure and business models, the framework approach is based on convening stakeholders and creating a shared vision and plan for implementation. The Future of Electricity Initiative has activities in several markets:

• Colombia: With the Forum’s support, in 2017 Colombia’s Minister of Mines and Energy has established a working group to implement the Future of Electricity’s framework. In January 2018 Colombia took its first step towards digitalization of its electricity network by introducing a concrete plan to build smart metering systems within the current year. This is the first of several policy reforms as the working group continues to modernize Colombia’s electricity sector.

• Brazil: Following the World Economic Forum on Latin America meeting in March 2018, an energy system stakeholder group

from Brazil convened and decided it is the right time to align the policy-makers, regulators, academia, technology start-ups and the private sector to proactively determine solutions that can be put forward for discussion with the government after the general elections. The group has begun to convene monthly.

• Argentina: An energy working group has been launched under the World Economic Forum Infrastructure Public Private Working Group Initiative (IPPWG) to accompany ongoing transformations in the electricity sector and facilitate optimization and integration of the energy. The group has begun to convene monthly. The Future of Electricity Initiative will continue to scale this this model – at both a city and national level – as an effective example of a multi-stakeholder approach which brings benefits to society and industry, especially in order to meet climate goals. ***

National-level and a city-level frameworks and recommendations are included in the following two reports :

1) The Future of Electricity: New Technologies Transforming the Grid Edge was released in March 2017, which includes a national-level framework and recommendations on accelerating grid edge technologies. The report estimates that electrification, decentralization and digitalization have the potential to create value of up to $2.4 trillion for both industry and society.

2) Electric Vehicles for Smarter Cities was published in February 2018, which includes a recommendations to accelerate electric vehicle deployment and their integration with other grid edge technologies and services to create smarter, energy efficient cities. The framework includes on policy recommendations, infrastructure guidelines and business models examples, and is especially aimed for city-level policy makers and urban planners. ***

For any information or details, please refer to Francesco Ciancarelli, Project Lead, Electricity Industry, World Economic Forum (francesco.ciancarelli@weforum.org)

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Foro Económico Mundial

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