Regulating the 'known unknowns'

Planning for uncertainty in the energy sector

Energy regulation will need to adapt if we are to get the full benefits from "smart meters" and "smart grids", and respond to technological change. These changes are the subject of our latest bulletin. While the former US Defense Secretary might seem a pretty unlikely source of guidance, his famous categorisation of future challenges makes a useful starting-point when considering how energy regulators should plan for the “known unknowns”.

Our bulletin coincides with the Government's long-awaited announcement of details of the £8 billion programme to fit "smart" electricity and gas meters in every home in Britain by 2020. The Government has also, for the first time, set out its vision of the role that "smart grids" could play in future.

fe-known-unknowns.pdf

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