New report warns accelerating effects of climate change could have destructive impact on energy systems around the world
The world's energy sector is at risk from extreme weather, increasing water stress and the growing threat of cyber crime, according to a new report released yesterday by the World Energy Council.
Extreme weather events have increased by a factor of four over the past 30 years, while 98 per cent of global power supplies depends on the plentiful supply of water - a resource becoming ever scarcer. Meanwhile, as digital technology promises to transform our grids into "smart energy systems" the threat of cyber attacks on global energy systems is increasing.
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These factors are combining to threaten the stability and security of energy systems, the World Energy Council concludes in its report. "With accelerating energy systems integration, resilience is no longer just about returning single assets to full operation after a disruptive event. When interdependent parts of a system are blacked out, the system as a whole is at risk of being deadlocked," said Christoph Frei, secretary general of the World Energy Council, in a statement.
The report sets out seven key recommendations for improving stability in energy systems, including greater diversity of supply sources, improved regulations and more transparent analysis of risks facing the sector during financing decisions.
The report's release comes ahead of the World Energy Council's annual congress, which is being held this year in Istanbul in October.
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