Transforming the UK energy system to meet carbon reduction targets and achieve our clean growth ambitions, requires the right conditions to enable new business models to encourage investment.
Energy Systems Catapult in collaboration with Imperial College, London and the University of Leeds is working on Utility 2050, exploring and stress testing how business models, consumer preferences and regulatory regimes might co-evolve in diﬀerent possible low carbon futures by engaging with stakeholders across the energy sector and beyond.
The Challenge and Opportunity
Transforming the UK energy system to be clean, secure and affordable, requires integrating and optimising solutions and innovations in a rapidly changing sector.
New assets, new services, new risks and most importantly new requirements from customers are all shaping a very different set of opportunities and challenges for the sector.
Utility 2050 was originally conceived by the Energy Research Partnership, oﬀering insight and guidance to policymakers, regulators, investors and consumers to develop the conditions required to create business models that encourage investment in transforming the the UK energy system.
It is now developing under the Catapult umbrella.
Driven by a research partnership that includes Imperial College, London and the University of Leeds, Utility 2050 is a mixed methods approach to exploring and stress testing how market opportunities, business models, regulatory priorities, and customer preferences, might co-evolve in diﬀerent possible low carbon futures to 2050.
Drawing on a wealth of UK economic and energy data, Utility 2050 is modelling multiple UK electricity market futures and the conditions required to create business models that encourage investment.
Engaging with stakeholders across the energy sector and beyond, including finance, industry, academia, government and civil society audiences, Utility 2050 works to identify the revenue opportunities in diﬀerent possible low carbon energy futures and the extent to which government interventions are needed to incentivise private sector investment or where the reduction in barriers needs to be undertaken are identified.