As 2020 draws to a close, there has never been a period of greater change for not just the energy sector, but arguably for world society as a whole.
Already trying to get our heads around the scale of the shift required to move from a fossil fuel-based global economy to one centred around new, disruptive technologies such as massive-scale wind power, innovative battery storage devices and electric planes, ships and cars, the coronavirus pandemic has thrown things into further disarray.
As bad as things may seem at times, the International Energy Agency (IEA) is among those organisations that have highlighted a potential silver lining of our current situation – it recently highlighted that the first wave of lockdowns in response to the coronavirus pandemic saw global emissions fall by a record 8%.
It noted electricity demand around the world was significantly reduced as a result of lockdown measures, with knock-on effects on the power mix – in areas it fell by as much as 20%, with closures in commercial and industrial operations outweighing increases in domestic demand as more people stay at home.
The IEA has also recently highlighted a need to ensure strong security of supply during the global transformation of the electricity sector, calling for a range of actions must be taken at the “technical, economic and political levels” to ensure the world’s energy supplies remain secure in this period of great uncertainty.
That’s why we have invited Tim Gould, Head of Division, Energy Supply and Investment Outlooks at the IEA, to be one of our headline speakers at Xpo 2020, which is taking place online next week – he will speak at 14:00 on November 10th.
As Head of Division, he designs and directs the work on all aspects of energy supply as well as contributing to the IEA Outlook as a principal author. He also oversees the Agency’s work on investment, including the World Energy Investment report.