World Energy Trilemma Index | 2019
The goals to be achieved in the 'Energy Trilemma' are defined by the World Energy Council (WEC) as
Each country pursues its own strategy to solve the energy trilemma. In the current Energy Trilemma Index of the WEC 128 countries are judged.
- secure energy supply,
- access to affordable energy,
- sustainability in the generation and consumption of energy.
Austria ranks seventh in the current worldwide Trilemma Index Ranking.
World Energy Scenarios 2019
The World Energy Scenarios 2019 report provides an update of the Council’s global energy scenarios. The three musically-named scenarios are:
- Modern Jazz, which represents a "digitally disrupted" and market-driven innovative world.
- Unfinished Symphony, a future in which more "intelligent" and circular economic growth models drive clean, affordable and sustainable energy transition and
- Hard Rock, which explores the consequences of inward-looking policies and weaker and unsustainable economic growth, in a more fragmented world.
The updated World Energy Scenarios provide new insights into the broader and fast-shifting landscape of innovation, which is emerging from within and beyond the energy system and includes not only new energy technologies but also policy, business model and social innovations. The scenarios highlight how different combinations of innovation accelerators –the "Constellations of Disruptions"– might trigger and scale to enable alternative energy pathways and disrupt existing value chains.
Cyber Challenges to the Energy Transition
The energy sector is experiencing a transformation, new synergies are being realised through linking operational, information technology, and communication systems: the sector’s digital footprint is rapidly expanding. Digitalisation and the development and transformation of energy supply chains are at the core of many government and businesses priorities.
At the same time, digitalisation presents new challenges. For example, cyber or digital disruption risk can affect every operation within the supply chain. Digitalisation requires new, agile risk management approaches to match its evolving risk profile and ensure it the energy system continues to be effective and reliable.
This Report explores the complexities and interconnections of cyber resilience in an energy system context. It applies the Council’s Dynamic Resilience framework concept as a tool to trace system vulnerabilities and holistic approaches to built-in resilience.
Energy Company of the Future: Rethinking everything
A perfect storm of factors is upending the traditional energy industry’s economics. In the face of this roiling change, energy companies can no longer proceed with business as usual. Their survival hinges on a bold rethinking of their business and operating models. energy companies will not only need to transform the role they play in the broader energy industry, but also how they operate, work with their supply ecosystem and interact with end consumers. Digital will be the foundation of this transformation, helping the industry unlock trillions of dollars in new value.
The World Energy Council has launched an exclusive Innovation Insights Brief: Energy Infrastructure: Affordability Enabler or Decarbonisation Constraint? The brief contains key insights from interviews with global leaders across the energy sector.
Transitioning to a decarbonised energy system will result in stranded infrastructure assets or lead to their early decommissioning. The Insights Brief responds to the emerging need for a coordinated action plan to minimise costs. It offers a set of principles to design an effective plan for energy infrastructure.
Affordability Enabler or Decarbonisation Constraint?
Innovation Insights – Hydrogen Economy
The World Energy Council launched the Innovation Insights Brief: "New Hydrogen Economy - hope or hype?". The brief contains exclusive insights based on interviews with the key global leaders across the energy sector. Interviewees answered the questions about what is new and what are the critical factors for hydrogen as a key actor of the Grand Transition. The Insights Brief provides the reader with an overview of the current state of play for hydrogen as a part of energy transition and showcases emerging opportunities in four sectors: mobility, power, heat and industry. Common to all interviews was the fact that clear and long-term energy policies, along with cross-sector cooperation are necessary for the deployment of hydrogen.
Global Energy Scenarios Comparison Review
In anticipation of the 24th World Energy Congress, the Council is refreshing its global energy foresight and updating its global scenarios narratives. The focus is on an ‘innovation twist to 2040’ and the use of scenarios to explore and navigate new exponential growth opportunities for accelerating successful energy transition in an era of epic and disruptive innovation.
As a part of the refresh, the Council has conducted a comparison study of global energy scenarios in order to test the continued plausibility, relevance and challenge of its own existing scenario set.
By comparing the methods, narratives and assumptions associated with a benchmarkable set of global energy futures initiatives and studies, the Council seeks to provide our members with clearer understanding and new insights on energy transition while preparing them to better engage with leadership dialogues which pivot on visions of a new energy future.
World Energy Issues Monitor 2019
In its tenth year, The World Energy Issues Monitor 2019: 'Managing the Grand Transition' published by the World Energy Council, provides a snapshot of the current priorities, facing global energy leaders.
The report looks at the global energy agenda and analyses the trends and outlook in six world regions and over 90 countries.
The 2019 edition summarizes the views of over 2,300 energy leaders including ministers, chief executives and the heads of the WEC’s national member committees.
Study Results YEP Austria
The Young Energy Professionals (YEP) Programme is an interdisciplinary network of young energy leaders from members and partners of WEC Austria. The YEP Programme was initiated by the London office of WEC.
The first cycle was launched in October 2015 and lasted until autumn 2018. The topics covered by the participants in the first cycle included the energy transition, investments and subsidies and the effects of digitalization of Austria's energy sector.
The results of the first cycle are available in the reports "Energy Future in Austria - Current Trends and Approaches for Innovation" and "Digitalization in the Energy Sector".
World Energy Insights – Blockchain
The blockchain in the energy market has the first hype behind it. The technology is being used in more and more (pilot) projects, such as decentralised supply models (P2P). But is the regulatory framework in the energy market already fit for blockchain? Where changes may be necessary to raise further potential for new solutions. The World Energy Council discussed these questions in 39 interviews with representatives from the energy industry, politics and research.
The majority of respondents agreed that market participants must first develop a new block-chain-capable market before the regulatory authorities can intervene.