POWER Magazine•2 days ago
From Bottleneck to Breakthrough: Why Procurement Is the Utility Industry’s Critical Capacity Builder
Key Takeaway
Strategic procurement is paramount for utilities to acquire the diverse new capacity needed to meet surging electricity demand and enhance grid resilience amidst evolving challenges.
AI Summary
- •Electricity demand is projected to surge 25% by 2030 and 78% by 2050 from 2023 levels, creating an urgent need for new generation capacity.
- •Utilities face a 'perfect storm' of aging infrastructure, climate-driven disruptions, and escalating expectations for reliability and resilience.
- •The article highlights strategic procurement as the critical lever for utilities to acquire the 'entirely new sources of capacity' required to meet future demand and grid challenges.
- •This signals a strong market for developers to bring forward innovative and resilient capacity solutions, and for large power consumers to engage with utilities on future supply strategies.
Topics
capacity-marketccgtpolicyppasolarstoragetransmissionwind
Article Content
With electricity demand projected to rise 25% by 2030 and 78% by 2050 from 2023 levels, utilities are facing a perfect storm—aging infrastructure, climate-driven disruptions, and escalating expectations for reliability and resilience. Meeting this moment will require more than incremental improvement; it demands entirely new sources of capacity, and a fundamental rethink of how the […] The post From Bottleneck to Breakthrough: Why Procurement Is the Utility Industry’s Critical Capacity Builder appeared first on POWER Magazine .