Deloitte published their Power Market Study 2030, a ‘new outlook for the energy industry’, in 2018. It reflected on their earlier 2025 study (published in 2015) and confirmed that the challenges faced and general trends observed were still largely valid. Namely, a mere evolution of power markets would not be sufficient – real transformation would be required.
Another 4 years on, many of the same challenges remain although the future outlook for the generation mix has already readjusted (for instance, the contribution from nuclear). Policy is driving regulatory changes to adjust the market to these new realities, which reflect a more meaningful and rationalised push toward decarbonisation. Utilities are responding in kind and if not already are primed to do so – those looking to provide longer duration balancing mechanisms for instance, to complement renewables, continue to face uncertainty whilst government proposals evolve and consultations take place.
Ref: ‘Power Market Study 2030’ at deloitte.com