Insights / Energy Transition
Electrify your operations to reduce GHG emissions? Perhaps not that simple.
On Ontario's electricity grid, natural gas generating units are increasingly called on to provide power, even in off-peak hours. The trend has significant implications for those looking to reduce greenhouse gas emissions through electrification.
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Generational change: Experienced senior staff are leaving
Many organizations face a growing challenge as senior employees leave the organization, taking with them significant knowledge and experience. Outsourcing expertise can be an effective way to fill the knowledge gap quickly, while lowering costs and reducing risks.
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Electricity price behaviour in Ontario is changing
Increased reliance on gas-fired generation will lift hourly electricity prices in Ontario. Higher HOEP and greater demand will lower Global Adjustment costs. It's a dynamic Ontario consumers have not seen in a long time.
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Energy transition: Success depends on interactions, dependencies, and contingencies
The value of an Energy Transition Plan is that it forces the organization to look at the many interacting parts, the dependencies and the contingencies that must be considered if success is to be achieved. It is unlikely the plan as first conceived will be implemented unchanged. But the process of planning equips the organization to anticipate possible challenges or obstacles that will arise, understand their impact and be confident in their ability to pivot to a new, more viable solution.
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Choosing your energy transition pathway
An energy transition is underway. While this change is essential, it is fraught with challenges and uncertainties. The appropriate energy transition pathway is one that enables the organization to move confidently towards its goal, while remaining within its limits of operating cost impacts, capital availability and risk tolerance, and with key decisions staged to allow for mid-course corrections if necessary. To navigate the transition successfully, an organization must have strong alignment and embark on its transition pathway with its eyes open to the challenges and risks it faces.
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