Energy Security and Transition: How synergistic in the power sector?
Conventional wisdom often pits energy security against energy transition and its ambitions. In reality, last year’s energy supply crisis bolstered renewable energy globally—the cheapest source of new power generation—and many power sector policies and investments increasingly brought energy security and the energy transition together. As the transition accelerates, questions surrounding reliability, resilience, supply chains, infrastructure, investment and overall affordability quickly come into play. How synergistic is energy security and transition in the power sector? Will the short-term focus on energy security continue in the long run? What are the challenges to the energy transition? How will markets react?