Technology and decentralisation are the two major themes of the energy market today. To understand the full impact of these themes, just consider the role both have had in two other sectors in the last 10 years. In the retail sector, the role of Amazon and online shopping alone has utterly changed the character of what being a retailer means. Each of our personal experiences of retail will show how much retail now comes to us and not us to it.
In financial services, online apps, comparison websites, blockchain, Apple Pay and other advances again show what can happen. Where are the local branches? On our phones is where. When did you last have to physically go into a bank?
Turn that knowledge towards energy and you realise what we are on the cusp of. We can see it already in so many ways but it feels like it is the start: electric vehicle charging, battery storage, solar panels becoming so much cheaper, innovation in RIIO, connected homes, smart meters and on it goes. Yet has our behaviour really changed? All we know is we are at the start of something interesting and we are all at our best when we share insights, hence our report and planned follow ups .