On May 2, 2013 GMF convened a small group of business leaders and policymakers from both sides of the Atlantic for an off-the-record dialogue to identify the pressing challenges facing EU and U.S. electricity grids and their stakeholders. The conversation was framed by presentations on the current state of the generation, transmission, and distribution networks in the United States and Europe, as well as insights on the future direction and potential of these systems.

There was a consensus amongst participants that existing power systems are stretched and highly sensitive to unforeseen events. The immediate vulnerability of the system has led often to short-sighted decision making rather than the strategic development of long-term solutions. Participants believed these concerns are further intensified by market deficiencies and a lack of coordination amongst key players.

Although the description of current power systems and the common vision for future electricity grids were rather clear, there was less consensus about what the transition between these two states will look like. Key points of the conversation included the future of utilities and their ability to incorporate new business models, the capability to optimize energy usage, the importance of new technology and innovation, as well as the role of consumers and how to draft a compelling narrative that will encourage them to reengage with the system. Participants agreed that the key leverage points to drive a transition to a more secure, affordable, and low-carbon electricity sector need to be further refined in order to identify specific strategies on how to moving forward.

This workshop is part of the Energy Transition Forum’s ongoing activities and this discussion will be used to inform its annual meeting in June 2013. A follow-up workshop on this topic is tentatively scheduled for September 2013.