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Iberdrola’s main conclusions of Enlit’s meeting in Milan
Energy transition is key to Europe’s competitiveness
This year Iberdrola announced an investment of 21.5 billion euros in networks by 2026.
Energy transition is key to Europe’s competitiveness [PDF] - Best way to promote industrialization is electrification, which requires significant investment in networks
- Regulatory certainty is paramount to re-booting the energy transition
- Digitalization offers great opportunities to enhance quality of service
Energy transition, essential to Europe’s competitiveness, requires stable regulatory frameworks, strong investment on grids, and must harness the potential of digital transformation and Artificial Intelligence (AI). These were the main conclusions of several Iberdrola senior managers present at this year’s Enlit conference, held in Milan, Italy, between 22 and 24 October.
Enlit is a high-level energy forum connecting industries aimed to advance decarbonisation and digitalisation in Europe’s energy system. In a panel about sustainability and competitiveness, Ana Lafuente, Networks Global Director, argued that the best way to promote Europe’s industrialization is electrification, which requires a significant network investment increase. Lafuente added that such investment is key to the stability and reliability of supply, enabling the integration of renewable energy and ensuring that electricity reaches all customers efficiently and safely.
In fact, in March, 2024, Iberdrola announced investments of 41 billion euros over 2024-2026, with 21.5 billion euros allocated to smart grids, to drive economy’s electrification, in the face of new uses of energy demand.
Álvaro Ryan, Regulation director at i-DE, explained that regulatory certainty is paramount to re-booting the energy transition, alongside the removal of barriers such as investment limits and excessive permitting, and the promotion of anticipatory investments. In a roundtable dedicated to regulation, Ryan said regulatory frameworks should also adapt to new types of investment, particularly in digital and innovation areas.
Regarding Digitalisation and Smart Grids, Marta Solaz, Business Information Security Officer at i-DE, stressed the importance of providing excellent service to customers and meet Net Zero commitments. However, risks should not be underplayed, namely cyber threats. A complex and more digitalized network increases the attack surface. Utilities must prioritize securing their processes, including supply chain (a potential backdoor for cyberattacks) by using control mechanisms that will reduce risk and protect their critical infrastructure and the service delivered to their customers.
Enlit’s next conference will be held in Bilbao, Spain, hosted by Iberdrola.