Navigating Rising Geopolitical Instability: Enabling the Next Wave of Decarbonisation
- Deep into the second year of Europe’s largest war since World War II, global geopolitical tensions continue to rise. Tension has spread well beyond Eastern Europe, with the Israeli-Palestinian conflict, which risks spilling further into the Middle East. China’s military build-up and aggressive rhetoric threatens Taiwan, the South China sea, and the region more widely.
- Globally, divisions broaden as nations align themselves within various conflicts. Russia’s allies provide steadfast support in their war through the means of arms, munitions, and sanction evasion support.
- Energy prices remind us yet again that geopolitical instability, particularly with Russian and Middle Eastern involvement, disproportionately impacts the energy sector.
- Renewables—the lowest-cost substitute for these globally traded fossil fuels in many applications—are being deployed at unprecedented pace on both sides of the Atlantic and globally, despite CAPEX and grid access challenges.
- In OECD countries, much of the low-hanging fruit in renewables buildout is rapidly being harvested. We’re building cheap renewables in desirable locations and utilising existing grid infrastructure.
- The hard work of deep decarbonisation of the power sector remains to be done. This will include massive grid expansion, market reform to encourage efficient investment and operational decisions, and supportive policy that can encourage the next wave of fledging technologies.
- There remains a vast amount of renewable potential to be unlocked in rapidly developing countries like India and Brazil.
- The Aurora Spring Forum 2024 delivered a comprehensive stocktake of the current situation and provided a detailed evaluation of future implications.
Speaker Highlights
Graham Stuart
UK Minister of State for Energy Security and Net Zero
John Pettigrew
Chief Executive Officer National Grid
Francesco Starace
Partner, EQT Infrastructure
Dorothy Thompson
Non-Executive Chair, Statera Energy
Greg Jackson
Founder & CEO, Octopus Energy
Judith Hartmann
Operating Partner, Sandbrook Capital
Facing New Realities: Rethinking Energy Use, Supply, and Policy in the Wake of the Global Energy Crisis
- The global energy industry continues to face turbulent times, experiencing the worst energy crisis in decades, with high energy prices, supply chain disruptions, and economic instability.
- However, almost a year after Russia’s invasion of Ukraine, the outlook is relatively positive compared to early dire predictions. .
- While the short-term news is surprisingly positive, the world that emerges from this energy crisis will require a vastly different strategy to approaching the energy transition.
- Firstly, supply chains have shortened. It is difficult to imagine a return to the levels of integrations that drove the energy transition in the past decade, such as solar and battery technology from China.
- Secondly, decarbonisation is now a matter of survival. The need for energy independence, especially in Europe, has reinforced the existing decarbonisation imperative to drive investment in both mature and immature energy technologies.
- Thirdly, Europe’s energy intensive industries are threatened. Europe must now re-evaluate the reliance of its manufacturing industry on cheap Russian fossil fuels, especially in countries like Germany.
- The Aurora Spring Forum 2023 focused on rethinking energy use, supply, and policy in the wake of the global energy crisis.
Speaker Highlights
Ignacio Galán
Executive Chairman, Iberdrola
Sinead Gorman
Chief Financial Officer, Shell
Miguel Stilwell d’Andrade
Chief Executive Officer, EDP
Michele Crisostomo
Chair, Enel
Markus Krebber
CEO, RWE AG
Amber Rudd
Former UK Secretary of State for Energy and Climate Change
Delivering the energy transition in a fractured world: Navigating price volatility, geopolitical risk, and supply chain disruption
- Critical Energy Transition Moment: Pandemic aftermath still impacting the energy sector despite subsiding.
- Supply Chain Challenges: Global economic shutdown hampers supply chain investments, leading to shortages in metals, fossil fuels, and transport.
- Renewable Energy Cost Surge: Batteries and solar cells see a 30% cost increase despite a decade of falling prices.
- Macroeconomic Stagflation: Accommodative monetary and fiscal policy – especially in USA – has created a macroeconomic environment of stagflation, blunting investment signals and signalling a potential shift to higher interest rates.
- Geopolitical Impact on Energy: Geopolitical conflicts, especially the war in Europe, influence energy dynamics as supply of energy is being wielded as among Russia’s most potent weapons.
- European Energy Security: Discussions centre on the global energy transition, emphasising the impact of Russia’s war in Ukraine on European energy security.
Speaker Highlights
Rt Hon Kwasi Kwarteng
UK Secretary of State for Business, Energy and Industrial Strategy
Ben van Beurden
Chief Executive Officer Shell
Ruth Kent
Managing Partner & Chief Operating Officer, Renewable Power & Transition Group Brookfield
Miguel Stilwell d’Andrade
Chief Executive Officer, EDP and EDP Renewables
Nora Mead Brownell
Former Commissioner FERC and Former Chair PG&E
Katja Wünschel
Chief Executive Officer, Onshore Wind and Solar Europe & Australia RWE Renewables
Building back: strategising the energy sector’s role in the global economic recovery
- The energy sector’s role in delivering a green and resilient recovery
- Decarbonising Europe and the changing renewables investment landscape
- How to transform the energy sector to ensure a just transition
- Does Net Zero emissions imply zero wholesale power prices?
- Market design to enable the Net Zero transition
- Hydrogen’s role in driving Europe’s green recovery
- The future of offshore wind, technology scale and market structure
- Decarbonising household emissions – where have we failed in the past and how do we make it work in the future
- Long-duration storage as a solution to reduce the cost of meeting the Net Zero targets
Speaker Highlights
Rt Hon Kwasi Kwarteng
UK Secretary of State for Business, Energy and Industrial Strategy
Agnès Pannier-Runacher
French Minister Delegate for Industry
Andreas Nauen
Chief Executive Officer, Siemens Gamesa Renewable Energy
Kate Ringrose
Chief Financial Officer, Centrica
Rui Manuel Rodrigues Lopes Teixeira
Chief Financial Officer EDP, Former CEO EDPR
Markus Krebber
Chief Executive Officer, RWE
2020 Highlights
Capitalising on Net Zero: strategies to thrive in a deeply decarbonised energy sector
- Global Net Zero by 2050 – feasibility and financial implications
- The role of utilities in achieving Net Zero and the policies needed in this parliament
- The role of hydrogen in Net Zero as one of the most promising decarbonisation options
- Financial implications of Coronavirus on energy companies
- Net Zero technologies: the role of nuclear, and Government support for the next wave of emerging technologies
- Renewables investment – strategies in an increasingly competitive sector
- The role of the company board during the transition
- The European Green Deal and what it means for the power sector
Speaker Highlights
Rt Hon Kwasi Kwarteng
Minister of State for Business Energy and Clean Growth
Baroness Brown
Vice Chair, Committee on Climate Change
Jean-Bernard Levy
Chief Executive Officer, EDF
Francesco Starace
Chief Executive Officer, Enel
Judith Hartmann
Chief Financial Officer, ENGIE
Antonio Mexia
Chief Executive Officer, EDP
The future of energy
- Future energy policy: climate change, security of supply and European integration
- 2050 perspective – Future European power system and strategic implications
- Future utility business models: will we see more specialisation or integration?
- Future energy technologies: when will CCS come of age?
- The future of merchant renewables in the European power market
- Future of carbon pricing: what is the trajectory for the ETS towards 2030?
Speaker Highlights
The RT Hon Greg Clark
MP
Iain Conn
CEO, Centrica
João Manso Neto
CEO, EDP Renewables
Dorothy Thompson CBE
Non-Executive Chair, Tullow Oil
Audrey Zibelman
CEO, AEMO
Johannes Teyssen
CEO, E.ON
Navigating the global energy transition
- What is the future of oil and gas in a carbon constrained world: gradual burnout or revival?
- Next steps for renewables: thriving in a post-subsidy environment?
- Disruptive technologies and the future of the energy market
- Financing the energy transition: evolving norms, risk conceptions and treatment of market-exposed revenues
- The return of the state? Energy sector implications of the British industrial strategy
- The state of the German Energiewende: industrial competitiveness vs decarbonisation
Speaker Highlights
Rt Hon Claire Perry
Minister for Energy, BEIS
Dermot Nolan
CEO, Ofgem
Dr. Pratima Rangajaran
CEO, OCGI Climate
Magnus Hall
CEO & President, Vattenfall
Michael Lewis
CEO, E.ON UK
Simone Rossi
CEO, EDF Energy
2017 Highlights
The transformation underway in the global energy system
- Current state of play in the energy market reform: successes, failures and next steps
- Emerging technologies, scientific progress and deployment potential
- Implementing the energy transformation
- Financing the energy transformation
- Current state of play in the Energiewende: successes, failures and next steps
Speaker Highlights
Ben van Beurden
CEO, Shell
Matthew Bell
Chief Executive, CCC
Cordi O'Hara
Director, National Grid
Peter Bruce
Professor, University of Oxford
Sonja Chirico Indrebø
Vice President, Statoil
Dr. Frank Mastiaux
CEO, EnBW
2016 Highlights
Emerging economic and political forces
- The UK’s role post-Paris: 2030 targets, renewables, efficiency, and the speed of coal’s death
- Perfecting the energy union: interconnection, inconsistent capacity markets, and state aid norms
- Emerging technologies: potential game changers, and their likely progress
- Key disruptive technologies and the flexible energy market of the future
Speaker Highlights
Rt Hon Amber Rudd
Secretary of State, Energy and Climate Change
Steve Holliday
Chief Executive, National Grid
Robert Groves
CEO, Smartest Energy
Laurie Fitch
Co-head, Global Industrials Group, Morgan Stanley
Tony Cocker
Chief Executive, E.ON UK
Richard Nourse
Managing Partner, Greencoat Capital
