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首页文档碳中和资料研究报告【推荐】2030年之声：能源行业的未来报告（英文版）-KPMG

【推荐】2030年之声：能源行业的未来报告（英文版）-KPMGVIP专享VIP免费

Voices
on 2030
KPMG in Belgium
kpmg.com/be/EnergyVoices
The future of energy
Russia’s invasion of Ukraine on 24 February 2022 has
had severe consequences for Europe. On top of an
already tight gas market and low availability of French
nuclear power plants, the invasion has resulted in
energy scarcity which has caused energy prices to
skyrocket, constituting a burden for both industry and
households, dampening economic recovery from the
downturn experienced in 2020.
This crisis has placed the topic of energy security back
on top of the geopolitical agenda and has reminded us
that energy is the cornerstone of economic
development and human prosperity. Together with the
urgent need to decarbonize our society and the
ambition to move away from fossil fuels, the necessity
to create a new energy future has never been more
pressing.
Looking ahead, where will we be at the start of the
new decade, in the year 2030?
Why Voices on 2030: The future of Energy?
To explore what the energy landscape could look like
in 2030, KPMG asked various leaders of key players in
the energy sector to share their vision on the future.
The Voices in this report explore the energy sector
from every angle, ranging from producers,
transporters, distributors, suppliers and beyond. Seen
as a whole, the Voices create a valuable chorus of
insight and expertise into the future of the energy
sector. And while views may vary, it’s clear that
cooperation between the different stakeholders is key
to achieving our goals, both on a Belgian and European
level.
These Voices capture a range of views on the different
energy transition pathways between now and 2030.
One point on which they all agree is that the sector will
be fundamentally transformed: reshaped by changing
stakeholder expectations, driven by technology,
digitalization, regulation, evolving customer
expectations and other disruptive forces.
Our goal with this report is not only to share the bold
predictions of some of the key Voices in the sector,
but to stimulate debate and encourage our readers to
reect on what they think the future holds. In today’s
world, where energy security, affordability and
Environmental, Social and Governance (ESG) has
rightfully taken center stage in the minds of all
stakeholders, the decisions we make today will
undoubtedly shape our future.
We thank the Voices that shared their time and
expertise to make this project a reality. KPMG in
Belgium is also committed to playing a constructive
part in the green transition towards 2030. This year we
released our rst KPMG Impact Report aimed at
enhancing the transparency and accountability of our
rm, including the capture of our own environmental
footprint and sustainability initiatives. In addition, we
are also investing in capabilities that will assist our
clients in navigating the energy transition.
We hope the insights of our Voices will challenge your
own thinking about the actions needed to get us to the
energy world we want to have in 2030 and beyond.
Whilst the exact pathway for energy to get us there is
still not completely clear, we are condent that
Belgium has strong cards to play and will take the
necessary actions over the course of the next years to
achieve a new and positive energy future.
And while the future will be challenging, this report
illustrates that we can look at it with condence and
hope.
Jorn De Neve
Partner, Head of Energy & Natural
Resources, KPMG in Belgium
Magali Vercammen
Sector Lead, Energy & Natural
Resources , KPMG in Belgium
3Voices on 2030
© 2022 KPMG Central Services, a Belgian Economic Interest Grouping (“ESV/GIE”) and a member firm of the KPMG global organization of independent member firms affiliated with
KPMG International Limited, a private English company limited by guarantee. All rights reserved.
Contents
3
Introduction
14
Alexander
De Croo
Belgian Government
Prime Minister
23
Thierry
Saegeman
Engie
CEO
20
Jean-Jacques
Delmée
Eneco
CEO
29
Frank
Vanbrabant
Fluvius
CEO
16
Grégoire
Dallemagne
EDF Luminus
CEO
25
Raad
Alkadiri
Eurasia Group
Managing Director
Energy, Climate &
Resources
18
Chris
Peeters
Elia Group
CEO
27
Peter
Claes
FEBELIEC
Director General
6
Predictions for 2030
4Voices on 2030
© 2022 KPMG Central Services, a Belgian Economic Interest Grouping (“ESV/GIE”) and a member firm of the KPMG global organization of independent member firms affiliated with
KPMG International Limited, a private English company limited by guarantee. All rights reserved.
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Voiceson2030ThefutureofenergyKPMGinBelgiumkpmg.com/be/EnergyVoicesRussia’sinvasionofUkraineon24February2022hasbefundamentallytransformed:reshapedbychanginghadsevereconsequencesforEurope.Ontopofanstakeholderexpectations,drivenbytechnology,alreadytightgasmarketandlowavailabilityofFrenchdigitalization,regulation,evolvingcustomernuclearpowerplants,theinvasionhasresultedinexpectationsandotherdisruptiveforces.energyscarcitywhichhascausedenergypricestoskyrocket,constitutingaburdenforbothindustryandOurgoalwiththisreportisnotonlytosharetheboldhouseholds,dampeningeconomicrecoveryfromthepredictionsofsomeofthekeyVoicesinthesector,downturnexperiencedin2020.buttostimulatedebateandencourageourreaderstoreflectonwhattheythinkthefutureholds.Intoday’sThiscrisishasplacedthetopicofenergysecuritybackworld,whereenergysecurity,affordabilityandontopofthegeopoliticalagendaandhasremindedusEnvironmental,SocialandGovernance(ESG)hasthatenergyisthecornerstoneofeconomicrightfullytakencenterstageinthemindsofalldevelopmentandhumanprosperity.Togetherwiththestakeholders,thedecisionswemaketodaywillurgentneedtodecarbonizeoursocietyandtheundoubtedlyshapeourfuture.ambitiontomoveawayfromfossilfuels,thenecessitytocreateanewenergyfuturehasneverbeenmoreWethanktheVoicesthatsharedtheirtimeandpressing.expertisetomakethisprojectareality.KPMGinBelgiumisalsocommittedtoplayingaconstructiveLookingahead,wherewillwebeatthestartofthepartinthegreentransitiontowards2030.Thisyearwenewdecade,intheyear2030?releasedourfirstKPMGImpactReportaimedatenhancingthetransparencyandaccountabilityofourWhyVoiceson2030:ThefutureofEnergy?firm,includingthecaptureofourownenvironmentalfootprintandsustainabilityinitiatives.Inaddition,weToexplorewhattheenergylandscapecouldlooklikearealsoinvestingincapabilitiesthatwillassistourin2030,KPMGaskedvariousleadersofkeyplayersinclientsinnavigatingtheenergytransition.theenergysectortosharetheirvisiononthefuture.TheVoicesinthisreportexploretheenergysectorWehopetheinsightsofourVoiceswillchallengeyourfromeveryangle,rangingfromproducers,ownthinkingabouttheactionsneededtogetustothetransporters,distributors,suppliersandbeyond.Seenenergyworldwewanttohavein2030andbeyond.asawhole,theVoicescreateavaluablechorusofWhilsttheexactpathwayforenergytogetusthereisinsightandexpertiseintothefutureoftheenergystillnotcompletelyclear,weareconfidentthatsector.Andwhileviewsmayvary,it’sclearthatBelgiumhasstrongcardstoplayandwilltakethecooperationbetweenthedifferentstakeholdersiskeynecessaryactionsoverthecourseofthenextyearstotoachievingourgoals,bothonaBelgianandEuropeanachieveanewandpositiveenergyfuture.level.Andwhilethefuturewillbechallenging,thisreportTheseVoicescapturearangeofviewsonthedifferentillustratesthatwecanlookatitwithconfidenceandenergytransitionpathwaysbetweennowand2030.hope.OnepointonwhichtheyallagreeisthatthesectorwillJornDeNeveMagaliVercammenPartner,HeadofEnergy&NaturalSectorLead,Energy&NaturalResources,KPMGinBelgiumResources,KPMGinBelgiumVoiceson20303©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Contents36IntroductionPredictionsfor20301416AlexanderGrégoireDeCrooDallemagneBelgianGovernmentEDFLuminusPrimeMinisterCEO1820ChrisJean-JacquesPeetersDelméeEliaGroupEnecoCEOCEO2325ThierryRaadSaegemanAlkadiriEngieEurasiaGroupCEOManagingDirectorEnergy,Climate&29Resources27FrankVanbrabantPeterFluviusClaesCEOFEBELIECDirectorGeneral4Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.3234PascalFernandDeBuckGriffnéeFluxysORESCEOCEO3638GilHamidAitAbderrahimSimonGeneralManagerofResaMYRRHA,CEOformerDeputyDirectorGeneralofSCK-CEN4341MarcoInneAlveràMertensTESH2SibelgaGroupCEOCEO4547MarcPaulBensadounTummersTotalEnergiesPower&ViryaEnergyGasBelgiumCEOVPCustomerSupply&ServicesBE-NL4952LeonardoAcknowledgementsMeeusVlerickBusinessSchoolProfessorVoiceson20305©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Predictionsfor2030Pillar1:GovernmentsdrivethegreenNewenergysupplyBelgiumplaysaleadingThe2030policytransitionincloseconcertationpartnershipshavebeenforgedroleinenergy:agendaandwithkeystakeholdersatageopoliticallevelspecificallyinoffshoregeopoliticalwind,thetransitoflandscapehydrocarbons,innovationandresearchPillar2:EnergyefficiencymeasuresRapidelectrificationUsesthatcannotbeTheenergyplayanimportantroleinposeschallengesineasilyelectrifiedwillmixof2030reducingCO2emissionstermsofincreasingneedtorelyongreenproductioncapacitymoleculesPillar3:DataprovidinginsightsDataandAIasdriverstoDataandAIasenablersData:thenewtoconsumersandminimizeinfrastructureforflexibilityandfueloftheallowingthemtoinvestmentsdemand-sideenergysystem?becomeactiveplayersmanagementPillar4:ConsumersbecomeSmartmetersgivethemEnergysuppliersTheemergenceprosumersandcontrolovertheirmustadapttheiroftheactivesellflexibilityconsumption&supplybusinessmodelconsumersPillar5:Environmental:strongshiftSocial:theenergysectorasGovernance:authoritiesESG:It’snottowardsgreenenergyaninspirationforotherbringallstakeholdersonlyaboutindustriesinacceleratingtogethertosucceedgreenenergythetransition6Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Predictionsfor2030It’s2030,theenergysectorhasgonethroughelectrifiedandalternativessuchashydrogenandotherchallengingtimesinthepreviousdecade.Firstly,thegreenmoleculeshadtobedeveloped.aftermathofalong-lastingglobalpandemicthataccelerateddigitalizationandemphasizedtheRegardingtheelectricitymix,allavailablelowcarbonimportanceofeconomicresilience.Followingquitetechnologieswereintegratedandrenewableswereclosely,theshockingwarbetweenRussiaandcomplementedwithnuclearpower.ThelattermakingitsUkrainewhichledtoskyrocketingenergypricesandcontributiontoachievesustainableenergygoalsandconcernsoversecurityofsupply.Theseeventswereenhancingenergysecurityataffordableprices.Gas-firedcompletegame-changersandtheEUrealizeditspowerplantswerestillneededtobalancethegridbuthadheavydependencyonRussianimportsforenergytobeusedincombinationwithcarboncaptureandandtheimportanceofworkingtogetherasablock.storagetechnologiestoreducetheircarbonfootprint.Allthishappenedinacontextwheresustainability,climatechangeanddecarbonizationwereatthetopAtthesametime,importantchangeswerealsoemergingoftheglobalagenda,addingfurtherpressuresontheataconsumerlevel.Digitalization,acceleratedbytheenergyindustrytotransform.COVID-19pandemic,andconsumerawarenesssparkedbyclimateconsciousness,haveledtoachangeintheToday,manycountriesstandfirmontheirapproachtorelationshipbetweenconsumersandenergycompanies.realizetheirnet-zerogoals.This,however,doesnotmeanTheformerarenowmoreinvolvedthaneverintheirthatalltransitionshavebeencompleted.It’sstillongoing,energyconsumption,lookingforoptimizationwherebutthesenseofurgencytoensureenergysecurityandpossible,requiringmoretailoredsolutions.Itisnosecretaffordablepricesthataroseinthetwentieswasanthattheshifttoactiveconsumershascompletelychangedimportantcatalystintheaccelerationofthetransition.thebusinessmodelofenergysuppliers,whohadtoreshapetheirofferstoincludeservicesthatprovideTheRussianwarinUkraineleftmanylessonslearned,oneconsumerswiththeabilitytomanagetheirenergyofthemostimportantbeingtheneedfordiversificationinconsumptionthroughinteractiveandnearreal-time,energysourcesandtheimportanceofgovernmentsinternet-basedapps.workingtogetherwithdifferentstakeholders,includingenergycompanies,todeterminetheirlong-termenergyTheshiftstowardsrenewablesanddecentralizedgenera-strategies.tioncombinedwithelectrificationofusestranslatedintoimportantinvestmentrequirementsingridinfrastructureWhenthewarbrokeoutandrelationshipswithRussiaastheywerenotdesignedtoaccommodatethesenewdeteriorated,Europewasforcedtorapidlylookfornewuses.Thiswasfollowedbyanincreasedneedtobalancepartnersforenergysourcing,withaneyeongeopoliticalthegridandavoidcongestioninthesystem.Flexibilityrelations.Energymattersprovedtoknownobordersandbecamethecornerstoneofthefutureenergysystem.IttheurgencyofEuropeworkingasablockonenergy-justwasnotonlymetbyconventionalpowerplantsbutalsoasit’sdoingwithclimate–becameapparent.Inthiswithnewsourcesofflexibilitysuchasbatteriesandmatter,Belgiumhadakeyroletoplaygivenitspositionatdemandsidemanagement,whichgrewsignificantly.theheartofEuropeandtheEuropeaninstitutions.SmartmetersanddataplayedanimportantroleindevelopingsmartgridsandtransmissionsystemoperatorsIntermsofenergymix,ageneralshiftawayfromfossil(TSOs)anddistributionsystemoperators(DSOs)hadtofuelsandtowardsrenewableswasinitiated,triggeredbyfindacommonvisiononbalancingresponsibilities.theoverallawarenessforenergyindependenceaswellasbyglobaldecarbonizationtargets.NewtechnologieshaveThesechangeshaveallhappenedinashorttime.Thealsobeenincludedinmanycountries’energysources,andentiresectorhastransformedandisleaningmoretowardsBelgiumisnoexception.Theshiftfromfossilfuelscamesustainability,servingasacatalystandinspirationforotherhand-in-handwithaswitchtowardsenergyefficiency,assectors.wellasincreasedelectrification.Thelatterdrivenbyawidespreaduseofelectriccarsandheatpumps.Electrifi-Whatseemedlikeamajortaskintheearly2020siscationofusesledtoasignificantincreaseinelectricitytodayseenasacommonpurpose.Thedecisionsanddemandandhaschallengedthecountryinitssearchforactionstakeninthelastdecadehaveshiftedthedialandanelectricitymixthatcancopewiththisincreasedhelpedtocreateanindustrythatisdecarbonizingfordemandwhileatthesametimemanagepotentialsystemsurvival,morediversifiedandthrivingtodayin2030.imbalances.Besidesthis,notallusescouldbeeasilyVoiceson20307©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Pillar1:The2030policyagendaandgeopoliticallandscapeGovernmentsdrivetheNewenergysupplyBelgiumplaysaleadinggreentransitioninclosepartnershipshavebeenroleinenergy:specificallyconcertationwithkeyforgedatageopoliticalinoffshorewind,thestakeholdersleveltransitofhydrocarbons,innovationandresearchIn2030,energysecurity,affordabilityandgovernments(Belgiumincluded)areassumingsustainabilityarehighoneverycountry’spolicytheroleofframingacountry-levelenergyagenda,asoneofthebiglessonslearnedfromstrategy.Along-termvisioncombinedwiththecrisesexperiencedinthelastdecade.moredecisiveandstablepoliciessharedbyTheworldhasacknowledgedenergyasvitalallstakeholdersisneededtoprovidemarkettosocietyandasadeterminingfactorinplayerswithaframeworkthatallowsthemprosperityandlivability.Energy-relatedtopicstomakethemajorinvestmentsrequiredtoarethereforemanagedasakeystrategictransformthesector.domainofnationalandEuropeaninterest.Withregardstogasspecifically,thebalanceThewarinUkrainewasagame-changer.Untilofpowerhaschanged.WhileRussiasecuredthen,theenergystrategywasmainlyleftmarketshareandinfluenceintheEuropeantothemarket.Today,governmentsareveryenergymarketthroughcheapgasinthemuchawareofthemarket’slimitationsandtwenties,Europewasforcedtoquicklysearcharetakingaleadingroleinenergystrategyforalternativesanddevelopnewcollaborationsdevelopmentandpolicymaking.Topicsforenergysourcing.Thisishowpartnershipssuchasdeterminingtheoptimalenergymix,withcountriessuchasNorway,theUS,strengtheninginternationalco-operation,LibyaandQatarwerestrengthened,andnewacceleratinginnovationanddevelopingallianceswereformed.infrastructurerequiregovernmentleadershipincloseconcertationwithallstakeholders,Whereasinthe2000sand2010sBelgiumincludingtheenergycompanies.assumedakeyroleingasimportandtransmissioninEurope,itisnowcreatingAtpresent,itremainsdifficulttodetermineahydrogenhubandbecomingpartofthewhohasthemostimportantroleintheEuropeanhydrogenbackbone.Inaddition,thedecision-makingprocess.AndwhileEuropecountryhaspositioneditselfintheforefrontshouldhaveassumedthisrole,inpractice,ofoffshorewind,solarandnuclearresearchhistoryhasshownthatdivergentintereststakeplacingBelgiuminastrong,leadingpositiontimetoreconcile.Therefore,in2030,localforthefuture.8Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Pillar2:Theenergymixof2030EnergyefficiencymeasuresRapidelectrificationposesUsesthatcannotbeeasilyplayanimportantroleinchallengesintermsofelectrifiedwillneedtorelyreducingCO2emissionsincreasingproductionongreenmoleculescapacityGlobally,countriesarelookingtoshifttheirTheintermittencyofrenewablesourcesenergymixawayfromfossilfuelswithpresentsadditionalchallengestotheenergytheaimofreducingCO2emissionsandsystem.Nuclearandgas-firedpowerplantsensuringsecurityofsupplyataffordablearealsonecessaryinthecapacitymix,thefirstprices.Achievingthisrequiresadiversifiedtosecurefirmbaseloadandthesecondtobemixofenergysourcesandenergyvectors.activatedincaseofimbalance.CarboncaptureOtherkeyelementsoftheenergyroadmapandstoragetechnologiesarebeingvigorouslyincludereductionofenergyconsumption,developedtoreducethecarbonfootprintofelectrificationandgreenmolecules.thegas-firedplants.TheambitiontoreduceenergyconsumptionIntheearly2020s,someofuspicturedandmoveawayfromfossilfuelsledtothethegradualdisappearanceofnuclearfromrapidelectrificationofsociety.Thisresultedintheenergymix.However,theenergyanincreaseinelectricitydemandfromaroundcrisisresultingfromtheRussianwarin85TWhonaveragetomorethan100TWh1.UkrainebroughtanewperspectiveontheMoreover,demandisexpectedtofurthergrowtechnology,makingitpopularagainthanksto250TWhby20502.Itwasaconsiderabletoitsadvantagesintermsofenergysecurity,challengetoincreaseproductioncapacity,climateimpactandcosts.findtherightcapacitymixwhileatthesametimeensureenergysecurity,affordabilityandInaddition,thereisstilltheportionofenergysystembalance.consumptionthatcannoteasilybeelectrified,suchasheavytransportandcertainenergy-Today,alargepartofBelgium’selectricityisintensiveindustries.Thosesectorswillhaveproducedbyrenewables,andinthefuture,torelyonhydrogenandothergreenmoleculesthisisexpectedtoincrease.Belgiumcurrentlyinordertogreentheirenergyconsumption,playsaleadingrolegloballyinoffshorewindsomethingwewouldnothaveexpectedtoandhasincreaseditsproductioncapacityfromplayamajorroleintheBelgianmixatthestart2,2GWuptoalmost8GW.Otherrenewables,ofthecentury.Today,itisatopicthroughsuchassolarandonshorewindenergy,whichthecountryhasgainedaforefrontprovideagrowingshareofelectricitysupplyposition.andthecountryhasincreaseditsimportcapacity,whileatthesametimeremainedLookingbacktenyearsago,wehavemovedmindfultohavesufficientelectricityproductionforwardwithgiantstepsandtransformedcapacityonitsterritory.ourenergymix:itisnowcleanerandmorediversifiedthanever.1Source:EDFLuminus2Source:FebeliecVoiceson20309©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Pillar3:Data:thenewfueloftheenergysystem?DataprovidinginsightsDataandAIasdriverstoDataandAIasenablersfortoconsumersandminimizeinfrastructureflexibilityanddemand-sideallowingthemtoinvestmentsmanagementbecomeactiveplayersAnno2030,theentireenergyecosystemTheenergysystemisnotonlymorecomplexishighlydigitalized.Thesystemismorebutmoretransparent.Thedigitalverificationintelligent,moreintegratedandgeneratesandtrackingofthesourceofenergyandhugeamountsofdata.Energyusageisemissionsisstandardfordomesticandmoreefficient,asitisbettermanagedinternationaltrade.Thereisstrongdemandthroughautomation,controllingmillionsofforcertifiedzeroemissionproducts,withAIdevicesincustomers’homes(withconsent),andblockchaintechnologyhelpingtoclassifyincludingelectricvehicles,electrichotwatertheproductsthataresustainableandlowsystems,heatpumpsandairconditioners.carbon.CompanieswhocanverifytheirMachinelearningandartificialintelligenceenergyisgreen,andthosewhohavecreatedaplayparticularlyimportantrolesininfluencingtransparentandintegralsupplychaincompliantenergyconsumptionbehavior,enablingwithESGcommitments,arecapturingagridflexibility.Thisindicatesthegridisnowgreatershareofnewenergydemand.operatingwithincreaseddemandresponse,optimizedcapacity,efficiencyandstorage.Forsome,however,thefocusondatahasDerivinginsightsfromthesemoreintegratedgonetoofar.Evenin2030,energystillsystems,companiescanbettercontrolcosts,revolvesaroundanelectronoramolecule.whileofferingcheaperandmorerelevantDataandautomationhavetofacilitateservicesfortheirconsumers.production,use,storageandtransportation,butnomorethanthat.Therefore,Thechangesinthesystemarealsocreatinginfrastructureisandwillremainatthecore.opportunitiesfornewenergyandtechnologyplayers.Theenhancednearreal-timevisibilityTomanagetheenergysystemaswellasoftheenergysystem,andtheaccessibilitypossible,aflexibletariffsystemisimportant.ofinformationviaonline“platforms”haveHere,too,dataandtechnologyplayapart.allowednewentrantstochallengeincumbentsTheymakeitpossibletoworkoutafairinallbusinesssegments.andflexiblepricingsystemandadjustitcontinuously.However,asithasamajorTrustisnowakeydifferentiatorforenergyimpactontheconsumer,therightbalancecompanies–protectingconsumerdataandneedstobefoundbetweenmarketcomplexityprivacy.Consumershavehigherexpectations;andtheeaseofuseforconsumers.notonlyregardingpriceandhowsustainabletheirenergyisbutalsohowflexibleitis.Thisbringsustoanimportantgoalofdata:CompaniesdoingthiswellareemployingAIgivingconsumersthetoolstomonitorandtocleanandanalyzemassiveamountsofdataoptimizetheirownusage(seepillar4).andutilizingittobetterunderstandandservetheirconsumers.Theyaredifferentiatingthemselvesthroughefficientandcost-effectiveenergyservices.10Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Pillar4:TheemergenceoftheactiveconsumersConsumersbecomeSmartmetersgivethemEnergysuppliersprosumersandsellcontrolovertheirmustadapttheirflexibilityconsumption&supplybusinessmodelForalongtime,energywasalow-involvementcontrolovertheelectricitytheyconsumeandproduct.Enduserssawitasaregular,givenownershipoverwhattheyproduce(viasolarandsecuredutilityservice,inwhichtheyhadpanels,windturbines,integratedbatteries,limitedpossibilityofintervening.Theenergyetc.).Theyhaveagreementswithoperatorscrisisintheearly2020schangedthatandandmanagetheirassetsjustasiftheywereresultedinincreasedconsumerawareness.actorsonthesupplyside.Moreover,theycontributetoincreasedpublicacceptanceofFromthenon,consumerswantedtobefullyrenewableenergyprojectsandmakeiteasierawareoftheirenergyusageandbecamemoretoattractprivateinvestmenttofinancetheawareoftheconsequencestheirconsumptioncleanenergytransition.hadonthemfinancially,aswellasontheenvironment.TheynowhavetheopportunityAnothermaindevelopmentistherolethatofproducingrenewableenergythemselvesconsumersplayinbalancingthegrid.Demand-andaddtheirsurplustothegrid.Wecansafelysidemanagementhasbeencrucialindealingsaythatin2030thereisaclearshiftfromwithincreasedintermittencycausedbytheconsumertoprosumer.growingshareofrenewablesintheelectricitymix.Demand-sidemanagementallowedThestandardizationoftheuseofsmartmetersconsumerstoreducetheirelectricitybillsand,hashelpedtogaininsightsinconsumptionandatthesametime,encouragedthemtoreduceproductionpatternsthroughtheavailabledata.andmodifytheirconsumptionpattern.Togetherwithdigitalization,ithasbecomeeasierforconsumerstobecomeactiveusers.Fordynamicandactiveconsumers,suppliersInteractiveplatformshaveallowedthemtohadtoadapttheirbusinessmodelandprovidemaintaincontrolovertheirenergyusageandmoretailoredsolutionsfortheirclients,suchbillsinaneasytouseandalmostreal-timeasinteractiveplatforms,energymanagementmanner.Thisputstheenergycustomerattheandflexibilitypackages.Thesimple,one-sidedcenterofanewecosystem.energyoffer,wewerefamiliarwithtenyearsago,isoverandgavewaytoanintertwinedFurthermore,wehavealsowitnessedasurgerelationshipbetweenproducers,suppliersandinenergycommunities.Theytypicallyhaveanewconscioustypeofconsumer.Voiceson203011©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Pillar5:ESG:It’snotonlyaboutgreenenergyEnvironmental:strongshiftSocial:theenergysectorasGovernance:authoritiestowardsgreenenergyaninspirationforotherbringallstakeholdersindustriesinacceleratingtogethertosucceedthetransitionAsmentionedbefore,theunprecedentedNevertheless,sustainabilityintheenergycrises,suchastheCOVID-19pandemicsectorisnotjustabouttheecologicalaspect,andthewarinUkraine,gavetheworldandeventhoughthereseemstobeanobviouslink.particularlytheEUastrongincentivetoshiftWemustnotunderestimatethecatalyticandtowardssustainabilityandcarbonneutrality.facilitatorrolethattheindustryhastakenfromTheneedforeconomicresiliency,securityasocietalpointofview(theSinESG).Thewarandindependencyofenergysuppliesdroveandsubsequenteconomiccrisisacceleratedtheenergyindustrytotakealeadingroleinthemovetowardssustainabilityintheindustry,achievingdecarbonization.anditservedasaninspirationforothersectorstomoveatafasterpace.ParticularlybecauseIn2030,manyactorsintheenergyindustryitwasnotonlyincumbentswhoplayedaincreasinglyprioritizedtheirmovetowardssignificantpartinthetransition,butawarenesssustainability.Today,inBelgium,alargepartamongconsumersandsocietyasawholealsooftheenergyconsumedcomesfromgreenplayedamajorrole.sources,suchassolar,windorgreengas.Ourcountry’spioneerpositionintechnologies,Finally,theGinESGsetsthetoneforthesuchasoffshorewind,hasallowedittoreachframeworkandoverallincentivesfortheitsambitiousgoals.transitiontoasustainableenergyindustry.Budgetallocation,investmentincentivesandaBelgium’searlyentryinthehydrogenmarketcohesivestrategyinBelgiumandthroughoutanditsderivativeshasalsohelped.AsamattertheEUwereprimarilyresponsibleforthemoveoffact,hydrogenissettoplayanincreasinglytowardscarbonneutrality.importantroleinthedecarbonizationofenergy-intensiveindustries,suchasThecoreofthesustainabilitytransitionismetals,cementandglass.Theperspectiveabout“bettertogether.”Byworkingtogetherofcircularityintheenergyindustryhas(energyproducers,companies,consumers,alsobroadenedthesector’shorizon.Thegovernmentsandregulators)wewillsucceed.widespreaduseofcarboncapturetechnologyComparedtoadecadeago,wehavetakenatogetherwiththereuseofCO2hasincreasedgiantleaptowardssustainabilityintheenergythecountry’sgreenenergypotential.Thesector.Wearenotthereyet,butwearemixhasbecomeconsiderablygreenerandquicklymovingforwardtowardsachievingthediversified,usingseveralcomplementaryambitioussustainabilitygoalssetfor2050.sourcestomeetthecountry’sdemand.12Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Thisreportismeantas‘foodforthought’tochallengeyourownthinkingabouttheactionsneededtogetustotheenergyworldwewanttohavein2030andbeyond“JornDeNevePartner,HeadofEnergy&NaturalResourcesKPMGinBelgiumVoiceson203013©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.WehavediversifiedourenergypolicywithoutsacrificingopennesstotheworldAlexanderDeCrooBelgianGovernmentPrimeMinisterTheenergycrisisoftheearlytwentiescausedintensiveindustryinourcountry.Werealizedintimedifficultmomentsbutprovedtobethetippingthatwewouldprefertobecomeclimateneutralbypointtowardsasafermarketmodelthatbetter2050whilemaintainingthisindustry.protectsconsumersfromvolatility”,saysBelgianPrimeMinister,AlexanderDeCroo.NuclearpowerAsweenterthefourthdecadeofthiscentury,IamProvidingourownenergyalsomeansnuclearpower,happytosaythatthatwehavesucceededinwherewehavechosentoextendsomeofournuclearaddressingtheenergy,security,andclimatereactorsfurtherintothisfourthdecade.Itwaschallengesoftheearlytwenties.ThecombinationofcertainlynotaneasydebateinwhichwelettherisingenergypricesandawaronEuropeansoilgavenationaldecisiononcapacitydependontheriskweusasolidwake-upcallatthetime.Werealizedthatwishedtotake,butalsoonweaknessesinthewedependedonRussiaforourenergyandonthecountriessurroundingus.UnitedStatesforoursecurity.Thankstothatchallengingcontext,theinsightdawnedthatwecouldAtthesametime,Belgiumalsomanagedtowinaseatmakea20-yearleapforwardifwesucceededinatthetableintheevolutionofthesmallmodularfundamentallyreshapingtheBelgianenergyreactors(SMRs)thatareannouncedfor2045.Thelandscape.beliefinnewreactorswiththeoldtechnologyhasdisappearedandcooperationbetweenEuropeanIamproudthatwewereabletodeliverthatmemberstatesprovedtobeamust.Theinvestmentfundamentalchangewithoutturningourbacksonthewassolargethatnoprivateplayercouldbearitworld.Itprovedpossibletodiversifyourenergymixwithoutgovernmentsupport.Moreover,thetrumpwithoutsacrificingopennesstotheworld.Wehavecardswerecomplementary.CountrieslikeFranceanddevelopedourownrenewableenergyandhaveTheNetherlandsdevelopedtheirpoliticaldiscoursedeliberatelychosentoover-investinournationalfaster,butacountrylikeBelgiumwasaheadintermspotentialtocontinuetoplayourroleasenergyhub.ofknow-how.AveryvisibleexponentofthistransitionisourNexttowind,hydrogen,andnuclearpower,gasalsooffshorewindcapacityintheNorthSea,whichhascontinuedtoplayanimportantrole,althoughithasgrownto8GW.Butthehydrogenimporthasbecomebecomeclearthatthisismainlyincombinationwithatleastasimportant.Thankstotheharborofcarboncaptureandstorage(CCS)andwiththeZeebrugge,wewereabletogrowintoahydrogenambitiontobuildapipelinetoNorwayforCO2hub.Thechallengewasnotaminorone.Thatsteptransport.Last,butnotleast,wehavebeenabletoprovedtobeanabsolutemusttokeeptheenergy-realizemostofourambitionssofarbydealingbetter14Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.withdemandmanagement.Therun-uptoittookmanyAbouttheintervieweeyears,butnowthateveryonehasadigitalmeter,wefullyrealizewhatpotentialwashiddeninthisdemandSince1October2020,OpenVLDpoliticianmanagement.AlexanderDeCroohasbeenPrimeMinisterofBelgium.HeleadsacoalitionofLiberals,Socialists,AmoreengagedgovernmentEcologists,andChristianDemocrats.ThesonofformerministerHermanDeCroo,hewasactiveasaInrecentyears,energyhasevolvedintoasecurityconsultantandentrepreneurafterobtaininghisdomain.Eventoday,in2030,weseethatRussiaMBA.In2009,hemadetheswitchtopoliticsandremainsadestabilizingfactor.FromthatsecuritybecamepartychairmanofOpenVLD.Fouryearsdimension,wehavemovedtoamarketmodelwithlater,in2013,hemadehisfirstappearanceinthemoreinvolvedgovernments.Itwasnecessarytofederalgovernmentasdeputyprimeministerandintervenetoavoidonemarketdestroyingtheother.ministerofpensionsintheDiRupogovernment.InThefreemarketdoesnotworkenoughinthisdomain,subsequentgovernments-MichelI,MichelIIandwhichispreciselywhyanevolutionwasneededWilmèsII-hewasalsopresentasaminister,beforetowardsstrongEuropeanregulatorswholookaboveassumingthepremiershiphimselfintheso-callednationalinterests.OnlyinthiswaycouldwegrowVivaldicoalition.towardssystemsthattakethevolatilityoutofthemarketandensurecontrolledprofitability.WewillevolvetowardsamoreregulatedenergyThe2008financialcrisishadpreviouslytaughtusthatmarketwithstrongitisnoteasytodevelopunifiedEuropeanpolicies.regulatorsputtingpublicDuringtheenergycrisis,itgaveustheinsightthatitisinterestfirst,aimingtobettertomoveforwardwiththosecountriesthatarereducepricevolatilityandwillingtodoso.Wecouldnotaffordtowaittoolong,withmoreregulatedanditmadelittlesensetocomeupwithaEuropeanreturnsmodelthatwouldthentaketenyearstotakeeffect.Moreover,itwasinterestingtoobservehow,inparallel,apoliticalsystemdevelopedthatwasmoreeconomicallyeducated.Thatopenedthedoortobetterintegrationwiththeindustrialplayerswhowerewillingtostepintoenergy.Willtheenergytransitionfromthethirddecadeallowustobetterprotectconsumersinthefourthdecade?Thechoicesmadeinthetwentiesledtothefactthatafterthegivensupport,energypricescoulddropagain.Incidentally,theseimportantchoicesarenotjustmadebythegovernment.Consumersthemselvesalsomadeimportantstepsandlearnedtodealwithnewtechnologyandhigherinvestments.Asagovernment,wewereabletoencourageenergysupplierstoprovidebetterguidanceandhelpdevelopthefinancialmodelssothatsustainablesolutionsbecameaccessibletoall.WeoftensaythatBelgiansarebornwithabrickintheirstomach.Meanwhile,thesamereflexforheatpumpsisquietlyvisible.Inretrospect,theenergycrisisinthefirsthalfofthetwentieswastherighttimetobringconsumersintothetransitionwhileofferingthemabettermarketprotection.Voiceson203015©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.FossilfuelreductiongoeshandinhandwithelectrificationGregoireDallemagneEDFLuminusCEOLuminuscontinuesitsdeploymentinthefieldofthesupplyanddemandofelectricity.Fromthispointrenewableenergy,whereitholdsaleadingofview,thewidespreaduseofsmartmetersallowsposition.Ithasadoubleobjective:ontheoneustobetteradjustelectricitysupplyanddemandathand,torespondtothegrowingelectrification,anygiventime.Wenotethedevelopmentofnewandontheotherhand,tocontributetofulfillingusessuchasbatteries,butalsothesignificantBelgium‘scommitmentsforaCO2neutralfuture.increaseinthenumberofelectricvehicles,whichAllthisagainstabackdropofsobrietyandcontributestointradayloadshiftandthebalancingofimprovedenergyefficiency,saysGrégoirethenetwork.Dallemagne,CEOofLuminus.MobilizingnuclearpowerToday,in2030,Luminus‘raisond‘êtreismorethanplantsisimportanttoevertobuildaCO2-neutralfuturethatcombinesthemeetthestronglypreservationoftheplanet,well-beingandincreasingelectricitydevelopmentthroughelectricityandenergyefficiencydemandandtheCO2solutions.InordertofulfillourcommitmenttoaneutralityimperativeCO2-neutralandsustainableenergyfuture,wefocusonanenergymixthatincludesanincreasingshareofRapidelectrificationrenewableenergies.Wearecontinuingoureffortstodeploymorerenewableenergies,includingonshoreWeareevolvingintoaworldthatisrapidlyelectrifyingwindpowerwherewearetheleader.Intermsofandatthesametimepursuingitseffortstoreduceenergyefficiencyandsobriety,thelessonsofthetotalfossilfuelconsumptionthroughenergysobriety2022crisishavebeenlearned:fossilfuelconsumptionandefficiency.Withthemassiveelectrificationofhasbeenconsiderablyreducedthankstotheuses,therearehardlyanythermalcarsleft.Astheacquisitionofsobrietyhabitsthatarenowintegratednameimplies,athermalcarlosesmostofitsenergyintoourbehavior.asheat.Today,wearefocusedonelectriccarsthatconsumethreetimeslessenergyperkilometerdriven.EfficiencyandflexibilityCurrently,wearewitnessingthegeneralizationofenergyefficiencyinordertoreduceenergyconsumption,forexampleinpublicbuildings,whereenergyperformancecontractsarebeinggeneralized.Atthesametime,weareimplementingmaximumflexibility,whichtranslatesintoabetteradjustmentof16Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Weareusingfarfeweroil-firedboilersandfarmoredoesnotwork.Therefore,wehavetorelyonaheatpumpsthatusefourtimeslessenergytoheatacentralizeddispatchableproductioncapacitysufficienthouse.Intheend,ourelectricityconsumptionforlongperiodsinwinterwithoutsolarandwindincreasedfrom85TWhin2022tomorethan100productionandwithoutinter-seasonalstorageTWhtoday.Itwasaconsiderablechallengetocapacities.Thisiswhywehaveapowergenerationincreaseelectricityproductionandtofindtherightparkthatwecandecidetostartupourselves.productionmixtomeetthisstronglyincreaseddemand,asmostgasfiredpowerplantsthatexistedMoreEuropeforenergymattersin2022reachedtheirendoflifeandsolarpotentialremainedlimited.TheinfluenceofEuropeforenergymattersbecamestronger.In2022,EuropehadaclearlystatedclimateOurneighborsalsofacearapidlyincreasingelectricityambitionandstrategybuttheenergypolicywasdemand,however,theyareshortonelectricitydecidedbyeachmemberstate.Wefoundoutitwasproduction.That’swhyithasprovenimportantfornotrealistictodecoupleboth.WeneedmoreEuropeifBelgiumtohavesufficientelectricityproductiononitswewanttoachievetheclimateobjectives.Wecannoterritory.longeronlyhavenationalenergypoliciesinEuropewhenweknowthattheimplicationsofenergychoicesDiversifiedelectricitymixgobeyondnationalbordersandimpactothercountries.IwouldaddthattheframeworkandtheTheterribleUkrainiancrisishadtheadvantageofcontoursofthemarketmustbesetbythepoliticians,removingacertainnumberoftaboosconcerningthebutitisuptocompaniestoimplementtechnologicalproductionmix.Governmentsfullywentforacarbon-innovationinthemostefficientwaypossible.freeproductionmixandprolongedthelifetimeofthenuclearreactorsthatcouldbeextended,whichwasEnergyconsumersimperative.Today,in2030,theconsumerisfullyawareoftheToday,in2030,welooktothefuturewithoptimism,importanceofconsumingaslittleelectricityasbuildingonthestrengthsBelgiumhasatitsdisposal,possibleandattherighttime,byadjustingittohisorparticularlyinthefieldofresearchwithworld-herownproductionwiththeuseofdigitaltools.Werenownedcenters,suchasSCK-CEN,whichareusingrelyonoptimizeddatamanagementthankstosmarttheresourcesprovidedbythegovernmenttobuildthemeters.InB2C,customersoptimizetheirself-nextgenerationofnuclearenergy.Thiscontributestogenerationpotentialbymaximizingtheirauto-alow-carbonelectricitymixandhelpsmeetBelgium‘sconsumptionthroughfullyintegratedsolutionswithstatedobjectivesandambitionsinthisarea.smartmeters,storagefacilitiesandconnectiontointeractiveplatformssothatelectricityusealwaysSupportingcustomerstakesplaceatthemostappropriatetime.WesupportourcustomersinreducingenergyAbouttheintervieweeconsumption.Thisisourmainrole.Wehavebeenworkinginthisareafor15years.Withoursubsidiary,CommercialengineerfromUCLouvainandMBALuminusSolutions,weareexpandingtheuseoffromtheUniversityofChicago,Grégoireenergyperformancecontracts.WehaveDallemagnestartedhiscareeratArthurAndersenascommissionedanewgas-firedpowerplantinSeraing,anauditor.Intheearly2000s,hemovedtothewhichhasbeenrunningforfiveyearsandproducestelecomsector,firstwithintheTele2group,thanatelectricitywiththehighestefficiencyforagas-firedProximus.In2011,hebecameCEOofLuminus.plantontheEuropeanmarket.Thesegas-firedpowerplantsaredesignedtoonlyrunwhenthereisashortageofwindand/orsunshinethatcannotbecompensatedforwiththestoragesolutionsinplace.Limitedinter-seasonalstorageIntradaystoragesolutionsaregrowing,butthequestionofinter-seasonalstoragehasnotbeenresolved.Withintradayflexibility,wecanmoveelectricitybetweennoonandevening.Eachday,thankstoabatterycoupledtoaphotovoltaicstation,theusesinthehouseareadjustedtothetimesofelectricityproduction.However,inter-seasonalstorageVoiceson203017©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.PoweringthedecadeofelectrificationThetransitiontorenewableenergyhasmadetheworldaverydifferentplacethanitwasadecadeago,saysChrisPeeters,CEOofEliaanditsparentcompany,EliaGroup.Thisistrueintermsofhowwework,transportthingsandpeopleandheatbuildings–butalsointermsofthegeopoliticalbalanceofpower.ChrisPeetersEliaGroupCEOInrecentyears,theEuropeanelectricitymarkethasforthemwasready.Eventhesmall,modularreactorsbeencharacterizedbyacceleratedintegration,driven(SMRs)thatmanyhadsuchhighexpectationsfor,arebyrenewableenergy.ThePrincessElisabethZonestillstrugglingtodeliverontheireconomicpromises.(whichincludestheenergyisland)isfullyoperational,TheexpectedstandardizationandmassproductionofandseveralinterconnectorshavebeenbuilttotheUKthattypeofpowerplanthavenotyetmaterialized.InandDenmark,aswellasfurtherupnorthandsouth.termsofbothprofitabilityandavailability,renewableTheelectricitygridonthemainlandhasalsobeenenergyhasmadesuchgreatstridesthatnuclearreinforcedbytheVentilusandBoucleduHainautenergyhasbeencompletelyovertakenbyit.Thisprojects.Ventilushasbeencompletedasanoverheaddoesn’tmeantherearenomorenuclearplantsinline,associetyrealizedthatthisdesignmadetheBelgium.Existingplants(Doel4andTihange3)havemostsensefromasocialbenefitperspective.hadtheirlifespansextended,whichwasacompletelypoliticalchoice.TheInternetofThingsallowsustomonitorthestatusofourassetsandmanageandmaintainthemmoreEventhesmall,modularefficiently.Theincreaseinintermittentrenewablereactors(SMRs)arestillenergymeansweneedhelpfromconsumerstostrugglingtodeliveronmaintainthegrid’sbalance.Digitalizationenablesustotheireconomicpromisesharnesstheflexibilityofferedbyhouseholdassetssuchaselectriccarsandheatpumps.ConvergencesThedecisiontophaseoutfossilfuelswasusedasaDespitetherebeingaclearoutlineforastrategytowaytoincreaseourstrategicsecurityofsupplyanddriveforwardtheenergytransition,differencesbringaboutgeopoliticalstability.Producingelectricitybetweenthedifferentenergysourcesstillexist.Therelocallyand,atthesametime,usingadiversifiedmixofisnosingle,integratedviewofelectricityandgas.resourcesstronglyreducedourdependenceoncertainElectricityandgasarecomplementary,butforregimes.electricity,convergenceswithothersourcesofenergyThemovetorenewableenergywasalsonecessarybecauseadecadeagowewereataturningpointintermsofnuclearpower:anageingfleetofreactorshadbeenphasedout,andnoimmediatereplacement18Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.aremuchmoreimportantthanitsconvergenceswithDatagas.ElectricityisalsothecheapestenergycarrierrightnowandhasthemostefficientsystemsinplacetoOneimportantaspecttonoteaboutourplatformsupportit–fromheatpumpstoelectricvehicles(EVs).strategyisthatitssuccessreliesondata.Today,80%Onechallengethatremainsistoconstructlarge,ofElia‘svalueisintangibleandonly20%ofitisintegratednetworkstowhichdifferentsourcescanbephysical.Tenyearsago,itwastheotherwayaround.connected,fromhydroelectricitythroughtohydrogenDigitaltwinsofeverythingweownexisttodayandtheandnuclearsources.AsecondchallengeisbuildingInternetofEnergyhasbecomeareality.Theskillsourtheflexibilitythatthesystemneeds–whichispeopleholdhadtobetranslatedovertothisdigitalprimarilydrivenbythedemandforpower–inadomain.Forbusinesspeopleinparticular,thishascost-effectivemanner.sometimesbeenchallenging,butIamconvincedthatwinningcompaniesarehuman-drivencompanies,noThisintegrationwithothersourcesandtheirmatterhowmuchAIweuse.associatedplayersalsomeansthatEliahasnowswitchedcompletelytoaplatformstrategyandhasAbouttheintervieweebecomeadigitallydrivencompany.Wearestillasystemprovider–or,ifyouwill,amarketfacilitator.AfterstudyingcivilengineeringatKULeuven,ChrisWearenotacommercialplayer:ourjobistomakethePeeters(56)beganhiscareerinthefieldofrestofthemarketwork.Giventhecomplexityoftheconstruction,afterwhichheworkedforfourteenenergymarkettoday,aplatformisalsotheonlywaytoyearsasapartneratMcKinsey.In2012,hebecamemanageit.OurgridhaschangedfrombeingtheDirectorofBusinessConsultingatconnectedtoafewhundredpowerplantsandSchlumberger,theoilandgasgroup.In2015,heinjectionpointsthatwerelargelyunidirectionalintowasappointedCEOoftheBelgianhigh-voltagegridonewhichcomprisesmillionsofbilateralconnections,operatorEliaanditsparentcompanyEliaGroup.Thewithvehicle-to-gridinteractions,solarpanelsturninglatteralsoownsoneofGermany‘stransmissionconsumersintoprosumersandindustriessellingtheirsystemoperators(50Hertz)andothernon-regulatedsurpluses(andsoon).Maintainingthebalancecanbusinesses(EGI,re.altoandWindGrid).In2022heonlybedoneefficientlythroughaplatform.ThiswasnamedManageroftheYearbyTrendsplatformishighlyflexible,adaptableandconstantlymagazine.changing–itreceivesdailysoftwareupdates.OurgridhaschangedfromPowersurplusbeingconnectedtoafewhundredplantsandForthisplatformtobesuccessful,thebarrierstoinjectionpointsthatwereaccessingithadtobemadeaslowaspossible.Thislargelyunidirectional,tohasinvolvedalotofmarketreforms.Economicone,whichcomprisesincentivesandpricesignalswerebuiltintoittomakeitmillionsofbilateralasattractiveaspossibletoallinvolvedparties.Theseconnectionsrunfromencouragingpeopletochargetheircarsorusetheirboilerswhenthereisasurplusofpowerthroughtoallowinglargecompaniestoselltheelectricitytheydon’tneedtootherparties.Electrificationhasn’tonlyaffectedvehiclesorheatprocesses.Itsimpactisbeingwitnessedacrossallindustrialprocesses.Thevaluechainhasbeenredrawn,certainflowshavechanged,semi-productsareinadifferentplace,...howexactlythiswillevolvefurtherwillbedifferentforeachindustrialsector.Onasidenote,thosewhoputtheirmoneyonhydrogen-poweredvehicleshavewokenupwithashock…becausetherearen‘tany.Theefficiencyoftheelectricmotorhasmadethebattery-poweredcardominantoverothermodels,byfar.Moreover,batterycostshavedroppeddramaticallyandourdependenceonraremetalshasvirtuallydisappeared,ashugestrideshavebeenmadeintermsofbatteryrecycling.EVsnowformpartofacircularsystem.Voiceson203019©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Jean-JacquesDelméeEnecoCEOEnergyis2035Enecoanditscustomerswillnolongerbetoday‘scurrencydependentonfossilfuelnaturalgas.Theenergymixlookscompletelydifferent,Now,wearealsonolongeranenergycompany.WeenergyisacurrencyandEnecoisnolongeranwere25yearsago.Nowthemanagementofenergyisenergy-onlycompany.Inrecordtime,theenergycompletelydifferentandourjobistobeaplatformmarkethasbeentransformed,EnecoCEOJean-thathelpsuserswitheverythingthathastodowithJacquesDelméeknows.energy:generating,consuming,storing,monitoringconsumption,etc.Weaddanintelligencelayer.Theenergyshockweexperiencedintheearly2020sgraduallyraisedawarenessthatenergywastheInitself,thisisaremarkablecourse.Tenyearsago,wecurrencyofthefuture.Meanwhile,thetimehascome.knewnothingaboutapps,nowweareacompleteEnergyissomethingyouobtainorcangenerateanddigitalplayerourselves,andotherappsandsoftwarethenconsumeorstore.Andyoucansellitfurtherifsystemsareourmaincompetitors.Thebestproofthatyouwant:Anewkindofcurrency,inotherwords.ourappworksextremelywell–wenolongerhaveacallcenter.Theimportantthingis,ofcourse,thatyoucangenerateyourownenergy.ThatyoucanprintyourDigitalmeterscauseddelaysownmoney,sotospeak.That‘show,asaconsumer,youmakesurethatyoubreakfreefromthecentralDespitetherecordpaceatwhichwereinventedenergysupply.Theenergycrisisin2022and2023ourselves,itwasnowalkinthepark.Ontheshowedhowimportantdecentralizedenergycontrary,theroadwasslowandbumpy.generationis.Thathaseverythingtodowiththevaryingpaceatwhichdigitalmetershavebeenandarebeinginstalled.NomoreenergycompanyTherewasandisaverybigdifferenceinadoptionratesbetweenFlanders,WalloniaandBrussels.Unfortunately,todaythisisstillinsufficienttosupplytheentirecountrywithenergy.Therefore,thesecondDigitalmetersareofcourseacrucialelementinpartoftheenergytransitionisstilltheexpansionoflookingatenergyinadifferentway.Theyaretheonlylargerproductionplayers’renewableassets.Asfromwaytomakeenergyconsumptiontransparentandmeasurableandmakeitpossibletoadjustthatconsumptioninstantaneously.Digitalmetersprovidemuch-neededdataavailability.20Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.CrisisasacceleratorInordertorealizetheenergytransitionandmeetthesustainabilityobjectives,theBelgiangovernmentshadDigitizationsumsuptheevolution–orcallitrevolutiontotaketheleadershipandplayamoreactiverolein–inourprofessionoverthepast10years.Itmadeitthesector,sustainedbylong-termgovernmentpossibletosetuphigh-performanceenergycommitment.managementsystems.AbouttheintervieweeIn10years,alothasactuallychanged.DuringtheCOVID-19period,ourparentsandgrandparentsJean-JacquesDelméeisCEOofenergyproducerdigitizedatlightningspeed.Duringtheenergycrisis,anddistributorEnecoinBelgium.TheDutchmanhasthefocusonenergyandtheenergytransitionworkedinBelgiumsince2009,whenhemovedtoincreaseddramatically.Andintheyearsthatfollowed,ourcountryforamissionatCoca-Cola.Healsothesetwoelementscametogether:digitizationandworkedasManagingDirectorExtrusionCoatingsatawarenessofenergydemandandgeneration.MondiBelcoat.DuringhiscareerintheNetherlands,Jean-JacquesDelméeworkedinnumerousThecrisiswehadin2022and2023hurtreallyhardforcommercialmanagementroles,includingatawhile,butithasbeenanaccelerator.IthascausedFrieslandCampina,SCAandIamsPetFood.ustoonceagainlivemoretotherhythmsofnature.TheweatherdetermineswhatenergysourcesareTheenergymixtodayavailableandthatinturndeterminesthepriceatthatlookscompletelydifferenttime.Wehavethereforeadaptedtoconcentratingthethan,say,adecadeago.bulkofourenergyconsumptionatthetimeswhenMostofourenergycomesthereiswindand/orsun.fromrenewablesources.Inaddition,nuclearplantsEnergyCommunitiesprovidesecurityofsupplyMakingenergydatavisiblehasmadetheimpactofourconsumptionimmediatelyclear,butusingdatagoesbeyondthat.Forexample,itisnowperfectlypossibletostartpredictingfutureusagethankstotheuseofpredictivedata.Forexample,itallowsdevicestodaytoautonomouslydecidewhenisthebesttimetorecharge.Inaddition,insightsfromdataalsoallowustosetupfinelymeshedenergycommunities,whereitisclearinadvancewhatenergyproductionisneededforacertaingroupofpeopleorcompaniesandhowitwillbegenerated.Peer-to-peersharingofenergyisalsoanimportantpartofthis.Theseenergycommunities,bytheway,arestilltheonlywaytoinstallwindturbinesonland.Onlyifpeoplerealizethatwindturbinesarefortheirownconsumptionwilltheyallowtheirconstruction.Renewable+nuclearAlltheseelementshaveensuredthattheenergymixtodaylookscompletelydifferentfrom,say,adecadeago.Thevastmajorityofourenergycomesfromrenewablesources,suchaswindandsolar.Therearesolarpanelsonallgovernmentandenterprisebuildingstoday.Inaddition,ourinnovationeffortshaveprovensuccessful:flexibilityintheenergysystemisagivenandallfossilfuelshavebeenphasedoutthroughtheuseofgreengasandgreenhydrogen.Carbatteriesalsoplayanimportantrole.Notintheproductionofenergy,butinitsstorage.Thisiscrucialtobeingabletousedaytimeproductionintheeveningandatnight.Voiceson203021©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Governmentswillneedtodrivetheenergytransition,incloseconcertationwithallkeystakeholders,includingtheenergycompanies“MagaliVercammenSectorLead,Energy&NaturalResourcesKPMGinBelgium22Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.WeprovidesmarterandmoretailoredsolutionstoourcustomersThierrySaegemanEngieElectrabelCEOTheaccelerationoftheenergytransitionandHowever,nuclearwillonlybeabletoexistifthereisdecarbonization,withthehelpofrenewablesocialacceptance.Itrequiresalong-termandstableenergies,andnuclearpowerasanoption,isviewinwhichgovernmentshaveakeyroletoplay.Itshapingtheenergylandscapein2030,accordingisnotatechnologyforaprivatecompanyalone.IttoThierrySaegeman.Thankstoinnovationandrequiressignificantinvestments,thebuildupofR&D,newtechnologieswillbedevelopedtoofferknowledgeandsupplychains.customers,bothindustrialandresidential,moreintelligentsolutionsadaptedtotheirneeds.Fourth,decarbonizationisincreasingamongourcustomers,theirsuppliersandtheircustomers.InWeareactiveinelectricityandgas.Fourelementsparticular,weareworkingwithourindustrialplayaclearroleinoursector.First,theenergycustomers,includingchemicalcompanies,cementtransition,whichhasbeenunderwayforyears,iscompaniesandsteelcompanies,todecarbonizetheiracceleratingwiththesameobjectiveinmind:tofreeproductionprocesses,aswellastheirfacilities.Tousfromourdependenceonfossilfuels.Second,theachievethis,weusegreenhydrogenandsyntheticvariouscriseswehavebeenthroughareresultinginhydrocarbons.Greeningtheirprocesseswithgreaterenergyefficiencyandamorecircularelectrificationisnotenough.Thereisaneedforgreeneconomicenvironment.Wehavemorelocalenergymolecules.productionandwaste,suchasCO2,whichisbeingusedmoreasarawmaterial.InordertoreduceourGreenhydrogenandsyntheticgasesenergydependency,weneedtocoverourneedswithourownmeans.Greenhydrogenhasthedisadvantageofhavingalowenergyintensity,andyoucannotproduceitinBelgiumRenewableenergiesdominateinlargequantities.WeproducesyntheticgasesbycombiningCO2extractedfromtheairwithhydrogen.Third,renewableenergiesdominatetheBelgianelectricitymixandrepresent,togetherwithsolar,windWealreadyhadseveralprojectsinthisareabackinandhydro,morethan50%ofourproduction.Between2022.Forexample,theColumbusproject,in2022and2030ENGIEwillhavedevelopedinBelgiumcollaborationwithCarmeuseandJohnCockerill,asmuchwindonshoreenergycapacityasitdidwhereCO2capturedduringlimeproductioncombinedbetween2000and2022!Besidesrenewablesinthewithgreenhydrogentoproducecarbon-neutralenergymix,wehavenewgas-firedpowerplants,andsyntheticmethane.In2030,wehaveatotalof4,000nuclearpowerremainsanoption.HavingnuclearinMWofelectrolysiscapacityworldwide,includingattheproductionmixofferscertainadvantagesintermsleast200MWinBelgium.ofenergysecurity,climateimpactandcosts.Voiceson203023©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Energyandtechnologicaldiversificationdecarbonize.Thankstodata,digitizationandartificialintelligence,wecanbothbettermanageproductionWedonotputalloureggsinonebasket;wepromoteandalsobetterpredictdemandfromthecustomer.diversificationofoursupplysources.WecannotOurcustomers,bothindustrialandresidential,dependononecountryorregionforourenergycontinuetoaskusforgreenersolutions.Weoffersupply.Similarly,thereisnosimplesolutionforthecompletesolutionsincludingenergymanagementenergytransition.In2030,weareusingarangeofservices(inordertomaximize,amongstothers,autotechnologicalsolutionstomeetourdecarbonizationconsumption)andflexibilitypackages(inordertogoals.Inaddition,weareseeingincreasedprovideflexibilitytothegrid).decentralizationofelectricityproductionwithphotovoltaicpanels.Yearafteryear,thesepanelsofferResidentialconsumersarelookingforunburdening.improvedenergyperformanceatlowercosts.TheWearetodayoneofthefewcompanieswhooffershareofoffshorewindpowerisalsobecomingdynamiccontracts.Wehelpthemmaximizetheirautoincreasinglyimportantinelectricityproduction.ThisisconsumptionbycombiningdatafromthedigitallessthecaseinBelgium,butatgrouplevelwearemeters,solarpanels,electricvehiclesandheatincreasinglydevelopingfloatingoffshorewind,whichpumps.ThemarketneedslargeplayerssuchasEngiehasanumberofadvantages:itcanbeinstalledatanyinordertobeabletobenefitfromitsgeographicaldepth,itcanbemovedaccordingtothewind,thereissize,itsR&Dcapabilitieswithits900researchersvirtuallynolimittotheunitpowerofthewindturbines.worldwideandabroadrangeofexpertise.Engie’sroleistoidentifythetechnologiesandtobringthemtotheInnovationandR&Dmarketintheformofinnovativesolutions.Intheactualcontext,innovationandR&DareAbouttheintervieweeessential.Morebroadly,ourteamsareworkingonrenewableenergies,newwaysofproducingThierrySaegemangraduatedfromGhentUniversitydecarbonizedenergy,newvectors,newuses,newin1995withaMaster‘sdegreeinElectromechanicalmaterials,etc.Wearenotinnovatorsoftechnologies,EngineeringandanMBAfromVlerickSchool.HebutweidentifythemandtransformthemintostartedhiscareeratEngieElectrabelin1995assolutionsthatcanbebroughttomarket.WithourProjectManagerCombinedHeatandPower.Heglobalpresence,weareabletodeliverlarge-scalelaterprogressedwithintheENGIEgroupandmovedsolutions,whicharetailoredtoourcustomers‘needs,toFrance,firstasManagingDirectorEngiequickly,moreefficientlyandatalowercost.However,ThermiqueFrance,thenasGeneralManagerofthestatecanhelpustoimplementcertainCompagnieNationaleduRhône.In2016,hetechnologicaldevelopments,suchastheelectrificationreturnedtoBelgiumasChiefOfficerNuclearbeforeofthecarfleet,whichisconstantlyincreasing.ThebecomingCEOofEngieElectrabelin2021.statemusthaveavisionandsettheruleswhileremainingtechnologicallyneutral.ItisuptocompaniesSuccessfulenergyandtheircustomerstofindsolutions.providersarethosethatreassurecustomersandOffshorewindhelpthemlowertheirbillsaswellastheirimpactonThedevelopmentofoffshorewindremainsimportanttheenvironmenttoEngie.OursubsidiaryOceanWindsalreadyhas5-7GWoffshorewindcapacityoperationalorunderdevelopment.Thereisstillroomforsignificanttechnologicalprogresssuchase.g.,thecapacityofthewindturbinesandtheuseoffloatingwindturbines,whicharemoveableandcanthereforereducethewindrisk.ProviderofintelligentsolutionsThewaybusinessesseeushasalsochangedin2030.Successfulenergyprovidersarethosethatreassurecustomers,bringcomfort(includinginvestments)andhelpthemtolowertheirbillsandtheirimpactontheenvironment.That‘sabigchange.Gonearethedayswhenthegoalwastosellmoreelectricityandgas.Nowit‘saboutconsuminglessandcontinuingto24Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.RaadAlkadiriEurasiaGroupManagingDirectorEnergy,Climate&ResourcesAseaofbeingaprimeexample.Someblocsalsosawcompetingopportunitiesinthisevolution.Manydevelopingislandscountries,whichlackedtheresourcestopurchaseexpensiveenergy,cautiouslytookChina‘s,andtoaOurenergysupplyisnotjustamatterofsupplyandlesserextentIndia’s,hand.ItmadetheChinesedemand;itisasmuchatoolininternationalconfidentandassertive,especiallyintheirownregion.relations,nationalpoliticsandpolicymaking.AndEuropeisstillthemostcoherentcontinentinthiswhiletheenergysourceswewilluseinthefuturestory,withlocalsuperpowers,althoughevenherewillbedifferentfromtheonesweusetodayin2030,regionalprioritiesareusuallyconsideredmorethataspectmayneverchange,saysRaadAlkadiri.importantthanaglobalworldvision.Ithadfadedintothebackgroundforawhile,butintheWehavehitthelimitsofpastdecade,itbecameclearagainthatgeopoliticalmovementshavehadahugeimpactonenergyneoliberalthinkingthismarketsin2030.Wehaveseensomeevents,includingthefirstmajorlandwarinEuropesincedecade1945,thatclearlyexposedthefragilityofglobalizationandatthesametimeputincreasingpressureonit.InGapaddition,theenergymarketcrisisbroughtalongunexpectedothercrises,suchassky-highfuelandBecauseoftheeventsIdescribeabove,asortofenergyprices,falteringsupplychains,emptyshelves“energypoverty”developedincertainpartsoftheinsupermarketsandemptycarshowrooms.worldthatlastedthroughthefirsthalfof2020.ThisalsowidenedthegapbetweenpoorcountriesandtheWecollided,inshort,withthelimitsofneoliberalWestevenmore.Thehighinterestratesandthelackthinkingandthisspurredregionalism.Theworldonceofcheapandrapidlyavailablefuelscausedamulti-againbecameaseaofcompetingislands,eachspeedenergytransition(indeed,thefactthatwealsoevolvingindifferentdirectionsandalotofthemmustfightclimatechangeinthemeantimemadethebecomingmoreinwardlooking,theUnitedStateswholesituationevenmorepertinentandcomplicated).InEurope,forexample,energytransitionandenergysecurityquicklybecamesynonymous.ManycountriesinSouthAmericaandAsiadidnothavethisluxuryforseveralmoreyears.Voiceson203025©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Sinceabout2025-2026,wehaveseendevelopingbytheendofthedecade.Investmentsinhydrogencountriesslowlybutsurelycatchingup.Europe‘slargewerealsogainingmomentum,withindustrialclustersinvestmentsinrenewableenergyhavebroughtpricesinBelgium,theNetherlandsandnorthernGermany,down,andChinahasalsomadeaclearcommitmentforexample,actingasmajorlevers.Theeffectsoftocurbitsemissions.Thathasgiventheglobalmarketclimatechange–whichhavebecomeincreasinglyforrenewableenergyagrowthboost.apparentandhard-hittinginrecentyears–broughtwithitanenormousnumberofinvestmentsandaThebigloserinthisstorywasnaturalgas.Itshighclearcommitmenttohaltingthisphenomenon.costmeantthat,atfirst,itpriceditselfoutofthemarket.InthefirstpartofthedecadetherewasalsoAbouttheintervieweesomuchfocusongasthatwesawoverinvestment,which,inturn,ledtoasurplusinproduction.AfterRaadAlkadirihasmorethanaquartercenturyof2025,thereduceddemand,thetransitiontogreenexperienceadvisingC-levelmanagersandenergyandalternativestoRussiansupplymeantthatgovernmentleaders,especiallyconcerningissuesgasbecamemuchlesscompetitive.suchasenergy,climateandtheeconomy.HejoinedEurasiaGroupin2021,havingpreviouslyworkedatHydrogenisincreasinglycastingitselfasanalternativeBostonConsultingGroupandIHS.Alkadiristudiedbuthasnotyetbeenabletofullyliveuptothatrole.InternationalRelationsattheUniversitiesofOxfordThatwillprobablynotbethecaseuntil2040.andSt.AndrewsandholdsadegreeinPsychology.Especiallyforgreenhydrogen,therearestillmanypracticalchallengesandobstaclestoovercome.Regulationshavebeenphasedout,notsomuchThebigtestaroundpricing,butaroundoperationalpermitsAsIsaid,inEurope,energytransitionandsecurityarenowsynonymous.TheEUhasshownwhatispossiblewhenpoliticalwill,agreatneedforenergysecurity,financialresourcesandpublicsupportallcoincide.Thecontinentmanagedtodevelopacoherentenergytransition.TheCBAM(CarbonBorderAdjustmentMechanism),partoftheFitfor55-program,playedanimportantroleinthis.Itwasalsoalevertoshapenewenergyandtraderelationships.Thatisnottosaythatthistransitioncameaboutwithoutahitch.Thewinterof2024-2025wasthebigtest.OngoingtensionsbetweenRussiaandUkraineprovidedthebasisforacommonvisionandpublicsupport.Atthesametime,therewasashiftinfinancing,withprivateinvestmentinenergyclaiminganincreasingroleandpublicinvestmentdeclininginimportance.Regulationswerewindingdown,notsomucharoundpricing,butmostlyaroundoperationallicensing.Europerealizedthatenergysecurityshouldnotbehamperedbyredtape.Thetransitiontogreenenergyalsosetinmotiongreatcompetitionbetweendifferentblocksforcriticalmineralsandresources.Thisledtoaperiodof“resourcecolonialism.”Aswegotbetterandbetteratrecyclingthoseresources,thismovementdiminishedandfadedout.ClustersOfcourse,allgovernmentdecisionsalsohadsomeimpactonhowenergywasinvestedin,althoughconsumptionpatternswerestillthebigdifferentiator.Thevastmajorityofinvestmentswentintorenewableenergy,withtheroleofgasincreasinglyreducedtonomorethanamarginalbackuporawaytoabsorbpeaks26Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Towardsagreenworld,butwithanopenmindTakingthenecessarystepstoreduceCO2emissionsissomethingnoonecanbeagainst.Butatthesametime,wemustkeepaneyeonthecostofthatambitionandwecannotaffordtobenaive,warnsPeterClaes,DirectorofFEBELIEC.PeterClaesFEBELIECDirectorGeneralEventoday,in2030,theworldstillconsumesverylargetheUnitedStates,theMiddleEastandAustraliadidn’tvolumesofenergybasedonfossilfuels.Theswitchtofeelthispricehandicap,ourEuropeanindustrysufferedrenewableenergyandotherlowcarbontechnologiesisstructuraldamage.Notonlydirectlybecauseofthehighstillnotfullycomplete.Especiallyifyoulookatglobalenergyprices,butalsobecauseoftheimpactithadonenergyconsumption,notonlyintermsofelectricity-inflationandlogisticchains.Aswenolongerproducedgeneration,butalsointermsofheatingandtransport,sufficientenergy-intensiveproductssuchasmetalsandwestillseeahighdependenceonfossilfuels.fertilizers,itaffectedothercompaniesthatusedtheseproductsasrawmaterials.Relyingsolelyonrenewableenergytoremaincompetitiveisdifficult,particularlyinBelgium.SolarandAtonepoint,wealsosatdownwithalternativewindyieldsarerelativelylowhere,wehavechallengessupplierslikeNorway,Libya,QatarandtheUnitedintermsofzoningandplanningandnotenoughStates,withasimplemessage:„Ifpricesarefiveortencoastline.ThatmeanswecannotwriteoffnucleartimeshigherinEuropethaninyourhomemarkets,youenergy,wehavemorethanhalfacenturyofexperiencearesqueezingustodeath.Andinafewyears’time,withit.Whyshouldwegivethisup?therewon‘tbeanindustryinEuropeleftthatcanbuyyourgas”.So,inexchangeforlong-termcontracts,Game-changerpriceagreementsweremadewiththesecountries.Thisrequiredlong-termcommitmentsintermsofvolumes:ThewarinUkrainewasagame-changerbecauseitLNGexporterswouldnotinvestinexpensiveseriouslypushedenergypricesup,until2026-2027.infrastructuretoexportgastoEurope,withoutaAfterwestoppedimportingRussiangas,Europelookedlong-termcommitmentonvolumes.feverishlyforalternatives.Onesuchalternativewastodeploycompletelynewenergysources.AsecondwasMarketforcestostartlookingforalternativegassuppliers.ThatgasthenhadtogettoEuropebypipelineorbyLNGtanker.Ofcourse,thisdoesn’tmeanwedidn’tbelieveinHowever,bothalternativestookalongtime,intermsofmarketforces.Bothintermsofpricesandsecurityofbuildinginfrastructure,bringinginlargevolumesandsupply,it’spreferabletoorganizetheenergymarketinanegotiatingcontracts.competitivemanner.ButIdobelievethatexceptionalcircumstancescanpushgovernmentstonewtypesofForourindustry,thesepastfewyearshavebeenveryagreements.Suchagreementsallowcompaniestobuydifficult,evenpainful.Becauseregionssuchasacertainvolumeofenergyatacertainprice.TheseVoiceson203027©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.agreementsdonothavetobethesameforeveryAbouttheintervieweecountry.Norwegiangasismainlypipelinegas,bothsupplierandofftakerareheavilydependentononePeterClaesreceivedhismaster‘sdegreeinAppliedanother.It’sdifferentforLNG:itcanbesoldanywhereEconomicsin1984attheKULeuvenandworkedintheworld.thereasaresearchassistantuntil1986.From1987to1992,hewasemployedasaneconomistattheButasIsaid,suchamechanismwasnotcreatedbankBBL.Afterthathejoinedessencia,theBelgianovernight.Andaskingcompaniestoshutdownplantsfederationofthechemicalindustryandlifesciences,forfourtofiveyearsbecauseenergywastooexpensiveasDirectoroftheeconomicdepartmentandlaterortooperateatalosswasverydifficult.Notallenergy-becameDirectorGeneral.Since2009,Claesisintensivecompanieswereableorwillingtosustainthat.DirectorofFEBELIEC,thefederationofBelgianNotalltheircustomershadthepatiencetodothatindustrialenergyconsumers.either.So,inrecentyears,therewerecasesofdelocalizationandclosure.Climateneutralityisnecessary,butwemustbeCarboncapturecarefulnottocondemnourselvestoeconomicOfcourse,inoursearchforalternatives,weweredeathcarefulnottoshiftourdependencefromoneenergysourcetoanother.WhatifsuddenlythesupplyofsolarpanelsfromcountriessuchasChinawasinterrupted?But,beingonehundredpercentindependentisbynomeansevident.Buildingalloursolarpanelsandwindturbinesourselvesisahugeeconomicalchallenge.Whatalsodidn’thelpwasthattherewas(andstillis)nostrongoverarchingEuropeanenergypolicy.Themainproblemwas,andstillistoday,thattheenergytransitiontoclimateneutralitycamewithacostthatwasvastlyunderestimatedforalongtime.Windandsolarpowerrequirebackupcapacitywhenthereisnowindorsun.Withtoomuchwindorsolaryouhavetostartstoringenergyinbatteriesorconvertingittomoleculessuchashydrogenorammonia.Bothsystemsareveryexpensive.Certainlyuntil2040-2045,usingconventionalsystemssuchasgas-firedpowerplantscombinedwithcarboncaptureismuchmoreaffordable.After2040-2045,Ithinkweneedtoonceagainlookatnewgenerationsofnuclearpowerplantsasabackup.Wecanalsoimportgreenmoleculesfromcountrieswithlotsofwindandsolar,butthattooisaverycostlyoperation.ItrequiresbuildinghugerenewablescapacityoutsideofEurope,andtransportingthehydrogenorammoniatoEuropewhereitwouldthenbeconvertedagainintoelectricity,whichisnotefficient.Howeveryoulookatit,thetransitiontoclimateneutralitywasandstillwillbeextremelyexpensive.Especiallythelaststepstoreachnetzerocomeatahugeprice.Wemaybeabletohandlethefirsthalfofemissionreduction,buttoreducethelastemissionswillrequireenormousfinancialefforts.AndIwonderifourpolicymakersareawareofthis.Moreover,in2030thisisstillaglobalchallenge,requiringaglobalapproach.So,whiledecarbonizationisnecessary,wemustbecarefulnottosqueezeourselvestoeconomicdeath.28Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.DatahavebecomethedriveroftheenergymarketFrankVanbrabantFluviusCEOGettingtheenergydistributiongridreadyforaexchangeforafee.Thatmarketalreadyexistedatworldfullofelectriccars,solarpanelsandheatmediumvoltageandlateratlowvoltage,butatthetimepumps;FrankVanbrabant,CEOofFluvius,wantsitwasimpossibletoforeseewhatpriceswewouldpaytocompletethatmissionintheearlythirtiesoftoday,in2030,for,say,switchingoffyoursolarpanels.thiscentury.Butforhim,beingaDSO(DistributionIfthemarketwere100percentflexible,therewouldSystemOperator)today,in2030,isaboutmorehavebeennoneedforinvestment.Webelievedthatthanastrongdistributionsystem.„Thetheinvestmentof4billionwasnecessary.Thankstoimportanceofdatamanagementcanhardlybethisplan,wenowavoidgridcongestionalloverunderestimated,“hesays.Flanders.Inrecentyears,hugeinvestmentshavebeenmadeinWemadeastreet-by-streetinventoryoftheplacesbasicinfrastructurethatenablesustorespondtowhereweweregoingtoopenupallthepavementsandsociety‘sevolutiontowardselectrification.Inaworldreinforcethecablesby2032.Ofthelow-voltagegridtofullofelectricvehicles,solarpanelsandheatpumps,whichhouseholdsandsmallbusinessesareconnected,gettingmorepowertopeople,inadditiontocapturingatleast40percentmustbereinforcedby2032.Ofthemorepower,hasprovedcrucial.medium-voltagenetwork,towhichlargercompaniesandpartofindustryareconnected,13percentmustbeAtthestartofthetwenties,ourelectricitygridwasnotreinforced,andadjustmentsarerequiredatone-thirdofreadyforthebigelectrification.ToavoidcongestionandtheFlemishdistributioncabins.Doesthismeanthatbreakdownspreventingtheincreasingamountsoftodayin2030allproblemshavebeendealtwith?Rightelectricityfromreachinghouseholdsandbusinesses,now,80percentoftheplanhasbeenrolledout,soFluviusrolledouta€4billionenergytransitionthereareplaceswhereproblemsremain,forexampleinvestmentplan,spreadovertenyears.Today,in2030,whenpeopledriveelectricorinstallsolarpanels.Wetheendofthatinvestmentperiodisinsight,andwearehaverespondedtothatbycreatingtheoptionofapproachingourtargets:reinforce36,000kilometersofproactivelyrequestinganattenuation.powerlinesandprovide750,000homesandcommercialbuildingswithaheavierconnection.DataasadriverAvoidingnetcongestionNexttotheinfrastructure,wenoticemorethaneverhowfastthedatalayerhasgrowntoday.DatahaveTheinvestmentplanwasonethatyoucouldchallengebecomethedriveroftheenergymarket.Everyonehasattheoutsetwiththeopportunitiesthatflexibilitycouldadigitalmeterandthatmakesitpossibletofunctionallypossiblyoffer.Flexibilitymeans,forexample,ausedatafromeverycustomer.Wenolongerfindconsumeriswillingtoswitchoffhisfreezerorboilerindynamictariffsthatchangeeveryhourstrange.WeVoiceson203029©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.eventuallygotusedtothecapacitytariff,sopeopleareAbouttheintervieweenowmoreenergyconscious.FrankVanbrabantistheCEOofFlemishdistributionWhat‘smore,theenergycustomerhasbecomecentralsystemoperatorFluvius,whichwasestablishedontothenewecosystem.Wherehewaspreviouslythe1July2018fromthemergerbetweenEandisandendpointofthechain,heisnowtheepicenterofaInfraxandistheDSOforelectricityandnaturalgas.muchmorecrowdedecosystem.Inthatsystem,whereItworksindependentlyfromenergyproducersandweseesupportfirmshelpingcustomerstoactivelysuppliers.Itdoesnotproduceorsellenergy,butparticipate,wemarketandsharesurplusesorbecomeensureselectricityandnaturalgasreachespartofanenergycommunity.That‘safundamentallycustomersunderthebestpossibleconditions.differentinterpretationoftheenergylandscapefromBeforebecomingtheCEOofFluvius,Vanbrabantwherewestartedinthetwenties.wastheCEOofInfraxuntil2014.Between2007and2014hewasdirectorcustomerservices,purchasingForFluvius,asaDSO,thebasicroleofthetimeandoperationsatInfrax.remainedintact:everythingdependsonastrongdistributionsystem.Ontopofthat,wesawourroleasTheactiveenergydatamanagergrow.Providingallpartieswiththedataconsumerisheretoday,neededtodobusinessrequiredmajorinvestmentsinwhereastenyearsagothesystemstodevelopdatamanagementviasoftware.thatsameconsumerItwasbuildingbrickbybrickanditisarolethatcannotwouldbehappyifthebeunderestimated.Itinvolvesmuchmorethanactinglightswereon.Byasamailboxofmeterreadings.Thisisaboutsharingpersevering,andwiththevolumesofdatainthemillionsperday.energycrisisbackthenbeingagame-changer,Persistencethingsaredifferentnow.In2030,weseetheThebreakthroughoftheenergycommunitieswasverybenefitsofthepersistenceillustrativeinthatcontext.Itwascrucialforitsevolutionof2022that,asaDSO,wecouldcollectallproductionandconsumptiondataononeplatform.Thatmadeitpossibletoshareenergyandafterwardsassembleeverythingcorrectlyontheenergybill.Theenergycrisisweexperiencedduringtheearlytwentieswasnotinsignificantinthatrespect.Thebiggestchallengeweknew,andstillknowtodayasaDSO,wascreatingsupport.Whetheritwasthedigitalmeterorthecapacitytariff,itinvariablyrequiredalotofefforttoovercomeresistance.Evenforourroleasdatamanager,wehadtofightandthatappliesequallytotheinvestmentplan.NordoIexpectthatchallengetodisappearwithfutureevolutions,butIhavealwaysbelievedthatthetippingpointwouldcome.Theactiveenergyconsumerisheretoday,whereastenyearsagothatsameconsumerwouldbehappyifthelightswereon.Bypersevering,andwiththeenergycrisisbackthenbeingagamechanger,thingsaredifferentnow.In2030,weseethebenefitsofthepersistenceof2022.30Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.TheavailabilityofdataviaonlineplatformsandAIallowsforgridflexibilityandenablesconsumerstobecomeactiveintradingenergy“PhilipJeandarmeDirector,Energy&NaturalResourcesKPMGinBelgiumVoiceson203031©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Lookingbackfrom2030:Shapingthemulti-moleculedecarbonizationgridPascalDeBuckFluxysCEOCleanhydrogenanditsderivativesalongwithDevelopinganintegratedvisionandapproachtowardscleanelectricitywilltakeanincreasingshareofthetheoverallenergysystemhasshowntobeessential.energymix.AndcarboncapturealsowillMajormilestonesweretakenthroughprogressivecontributesubstantiallytoasuccessfuljourneytoinsightintothewayinwhichmoleculesandelectronsclimateneutrality.BelgiumiswellplacedtoactcomplementarilytoadequatelymeettheneedforaccommodatethistransitioninawiderNorthwestcleanenergyandrawmaterials.AcrosstheenergyEuropeanperspective,saysFluxysCEOPascalDesystemwearenowdevelopingthenecessaryBuck.Thankstoourextensiveinfrastructurethatinfrastructureatoptimumsocietalcost.Themixofmakessocietyreadyforthefuture.Thisishisviewcleanelectricityandcleanmolecules,eachwiththeirlookingbackfrom2030.diversifiedmixoflocalandnon-localsources,isthefoundationweworkfromtoachievefullclimateThe20sinhindsightneutralitythroughto2050.EarlyinthelastdecadetheCOVID-19pandemicandBelgiummulti-moleculehubthewarinUkrainewereastrongimpetusfortheEUtoaccelerateactiontowardsclimateneutrality,whileTodayBelgiumhassuccessfullydiversifieditsimportsupportingeconomicresilienceandsecurityofenergyandtransitrolefornaturalgaswithasimilarsupply.ClimatepledgesinthevariousEUcountriesinternationalhubroleforcleanenergymoleculesandintensifiedaccordinglythroughoutthedecade.WhileCO2.Ourinfrastructureoffersthemarketthecapacitythelevelofprogressvariesacrossthebloc,onaverage,requiredtotransport30TWhofhydrogenand30energyefficiencymeasureshavebroughtdownenergymilliontonsofCO2peryear.Throughto2050wearedemandconsiderably.Inthesamevein,cleanhydrogensettocontinuethedevelopmentofourinfrastructuretoanditsderivativesalongwithcleanelectricityhavekeepofferingthecapacitiesthemarketneedstoprogressivelyreplacedpartofthefossilfuelsintheachieveclimateneutrality.energymix.Ourextensivereach-outtoindustryinBelgiumearlyinRegardinginfrastructurewehavemanagedtofacilitatethedecadelaidastrongfoundationforrepurposingandnewactivitiestostrengthenanddiversifytheeconomicdevelopingourextensivenaturalgasinfrastructure.Wetissue.Circularityhasincreasinglybecomeadrivingnowhaveamulti-moleculesystemwithseparateforceintechnologicaldevelopment,economicrenewalnetworksforhydrogenanditsderivatives,CO2andandforward-lookingpartnerships.ReuseofCO2,formethane(naturalgas,biomethaneandsyntheticexample,hasseensomeimpressivebreakthroughs,methane).WhatlevelsofhydrogensupplyanddemandandwastecannowsustainablyreinventitselfasarawdidindustryinBelgiumprojectovertime?Andwhatmaterial.levelsofCO2capturedidtheydeemnecessary?Close32Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.cooperationwithindustryandanarrayofstakeholderstheseabed.TheZeebruggeterminalisakeynodeinallowedforthedevelopmentofacoordinatedblueprintthisonshore/offshorechain.Theterminalhasdiversifiedforamulti-moleculeinfrastructure.Westartedoutwithintoamajorexportfacility,ahubaggregatingCO2forlocalinfrastructureintheindustrialclusterstoachievesubseapipelinetransportintheNorthSea.Inparallel,scalefromtheoutsetandswiftlyprovidedconnectionssmallerliquefactionterminalsserveascollectinghubsbetweentheseclustersandintothesystemsofwhereCO2isliquefiedandloadedontoshipsforneighboringcountries.onwardtransport.HydrogencrossroadsThenaturalgasgrid:fade-in/fade-outacceleratorAtthisstagethehydrogengridservestheindustrialThenaturalgasgridcontinuestomakeavailablethesectorsinBelgiumwithprocessesrequiringhighcapacitiesrequiredtoensuresecurityofsupplytothetemperaturessuchastheproductionofsteel,cement,customerbase.Newsectionswereaddedtothegridinaluminum,ceramicsandglass.MarineshippingandthewakeofthewarinUkraineearlyinthedecade.heavy-dutytransporthavedevelopedassourcesofAdditionalcapacitywasneededtoaccommodatedemandforhydrogenanditsderivativesaswell,andincreasedflowsfromthewestandensuresecurityofseveralgas-firedpowerstationshaveshiftedorareinsupplyinBelgiumandsurroundingcountries.Themixintheprocessofshiftingtothenewenergycarrier.Thethegridhasincludedincreasingquantitiesofcarbon-gridalsoprovidescleanhydrogenanditsderivativesasneutralbiomethaneandsyntheticmethane,flatteningfeedstockforthechemical,petrochemicalandplasticsthecarbonfootprintofthemethaneconsumed.recyclingsectorsinBelgium.Currently,transitvolumesaremainlydestinedforGermany.Severalsectionsofthenaturalgasgridinthe20swererepurposedandarenowpartoftheseparatehydrogenThegridisconfiguredtoallowoptimumdiversificationandCO2grids,eachcombiningexistingandnewlyofsupply.Inflowofonshorehydrogenproductionfromdevelopedinfrastructure.WiththeuptakeofcleanelectrolysersinBelgiumremainsmodestandishydrogenandcleanelectricityintheenergymix,thecomplementedbyavarietyofsources:localblueprocessofreconfiguringthenaturalgasinfrastructureishydrogenfromnaturalgaswithcarboncapture,importssettocontinuethroughto2050.FacilitatingthefadingthroughtheconnectionswiththeNetherlandsandinofcleanmoleculesandthefadingoutofnaturalgas,FranceandhydrogenfromoffshorewindcapacityinthewhileensuringsecurityofsupplyoftheevolvingNorthSea.Importsofhydrogenderivativesbyshipalsomoleculemix,thenaturalgasgridhasproventobehavebeendeveloping.Thelatteraresettoincreaseinstrumentalinthesuccessofthegreentransition.steadilyoverthenextdecadeasmoreproductionandshippingchainscomeonstream,inlinewiththeAbouttheintervieweeagreementsconcludedwithvariouscountriesinNorthAfrica,theMiddleEastandLatinAmerica.PascalDeBuckjoinedFluxysin1995wherehesuccessivelyheadedtheLegal,CommercialandCO2aggregatorforNWEuropeBusinessDevelopment&Strategyunits,beforebeingappointedManagingDirectorandCEOofTheCO2gridinBelgiumcurrentlyservesindustryFluxysin2016.HeholdsadegreeinLawandsectorssuchassteel,cementandlime,whichhavegraduatedfromtheIESEGlobalCEOProgram.productionprocessesthatinevitablygenerateCO2.CarboncapturehasproventhekeysolutiontoaddressTodayin2030ourtheircarbonemissionsandallowedthemtokeeptheirinfrastructureofferstheactivityandemploymentinBelgium.Bluehydrogenmarketthecapacitytoproductionformnaturalgasincorporatescarbontransport30TWhofcaptureaswell,andotherindustrieshaveimplementedhydrogenand30millioncarboncaptureasthetransitionaloptionforthetimeittonsofCO2peryeartakestoswitchtocarbonneutralenergysourcesfortheiractivity.CO2capturedinBelgiumandsurroundingcountriesflowsthroughthegridtoaseriesofreuselocations.AnumberofbreakthroughinnovationshaveextendedthecircularreuseofCO2largelybeyondthedeploymentintheproductionofe.g.syntheticfuelsasenvisagedatthebeginningofthedecade.ThegridalsopipesvastquantitiesofcapturedCO2toexportfacilitiesensuringonwardtransporttosafeandpermanentstorageunderVoiceson203033©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.WemovedfromconceptualthinkingtoconcreteactionsFernandGriffnéeORESCEOEnergyplayedakeyroleinreachingtheclimatepursuingthedecentralizationofelectricityproduction,anddecarbonizationobjectives,andthegridmainlythroughphotovoltaics.Inthepast10years,nooperatorsfacedatriplechallenge:accommodatinglessthantwogigawattsofrenewableelectricityhavedecentralizedproductionandenablingthebeenaddedtoournetwork–roughlytheequivalentoftransitionstoelectricalmobilityandelectricaltwonuclearreactors,toreachatotalofmorethanfourheating.Tomeetthesechallenges,ORESreliedgigawatts.ThismeantthatOREShadtodevelopafirstandforemostonitsinfrastructure,inwhichitnewactivity,namelytheaccommodationofcontinuedtoinvestheavily,andontheefficientdecentralizedelectricitygeneration.useofdataforthebenefitofaconsumerwhobecameincreasinglyaconsumer-actor,saysHeathomesandorganizemobilitydifferentlyFernandGrifnée.InWalloniabackinthe2020s,around40%oftheToday,inanno2030,theenergysectorembracespopulationheatedtheirhomeswithgasandanotherthingsthatcausedconcerninthepast,suchasthe40%withfueloil.Therestwascoveredmainlybyenergytransitionanddecarbonization.Werealizedthatbiomassorheatpumps.Theprioritywastoincreaseweneededtotalkabouttheseissuesinconcreteenergyefficiencyandtoreducetheshareoffueloil.termsandseehowtheytransformthelivesofpeople,Furthermore,gaswasgraduallyreplacedbybiogasasbusinesses,andenergyplayers.Inotherwords,wewerealizedthatthepotentialofbiogasinWalloniaishavemovedfromconceptualthinkingtoreality.substantial3.Theadvantageofbiogaswasthattheexistinggasnetworkcouldbeused.ItprovidedanewThreemajorareaswereconnectedtotheenergyrevenuestreamfortheactorsintheagriculturalsector,transitionanddecarbonization:electricityproduction,which,togetherwiththepublicauthorities,wereheating,andmobility.Inthecomingyears,wemustimportantpartnerstodevelopthisindustry.meetthesethreechallengesinordertoachievetheobjectiveofaclimate-neutralEuropeanUnionbyAsfarashydrogenisconcerned,weremained2050,i.e.tomorrow.attentivetothedevelopmentofthesector,butdidnotseeimmediatelyimportantdevelopmentoftheusesProduceelectricitydifferentlyonourinfrastructure.ElectricityproductionhadtoincreasesubstantiallydueElectricityplaysanimportantroleinheatingaswell.totheelectrificationofoursociety.Today,weareOverthelastdecade,wehaveseenanimportant3AccordingtothestudyofValBiomof2019,therealisticbiogaspotentialinBelgiumis15.6TWhpcs.TheWalloonpotentialalonecouldrepresentalmost50%oftheconsumptionofthedistributionnetwork:inotherwords,1in2Walloonhouseholdscouldbesuppliedwithbiomethane.34Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.electrificationofheatingwithheatpumpsbecomingThankstotheinvestmentindata,awholenewrangethestandardforneworwellinsulatedhomes.Hybridofserviceshavebeenproposedtoconsumers,bysolutionsthatsmartlycombineelectricheatpumpsORESbutalsobyalargeeco-systemofcompanies,withgasboilers-dependingonexternaltemperaturesfromstartupstowellestablishedenergyplayers.-havealsobeenadoptedbymanyhouseholdsandcontributedtothedecarbonizationofheating.Theseserviceshaveallowedconsumerstotakeamuchmoreactiveroleregardingtheirenergyuse,byThenumberofelectriccarsincreasedmassivelyadaptingtheirconsumptiondependingonmarketbetween2020and2030andisexpectedtorepresentconditions,byprovidingwin-winflexibilityservicestothemajorityshareofthecarfleetof2050.thenetworkoperators,andbyactivelyparticipatinginenergycommunities.Thesenewconsumerbehaviors,Significantinvestmentsinthelowvoltagefacilitatedbyinvestmentindata,havebeentothenetworktriple-benefitoftheenergytransition,reducedenergybills,andthesustainabilityofourenergynetwork.Thesethreeelementshaveasignificantimpactontheelectricityandgasdistributionnetworks,whichraisedTosupportthisenergytransitionandtheelectrificationtwoquestions.First,werethenetworksready?Andifofsociety,OREShadtoinvestefficientlyandnot,wouldwehavesufficienttimetoadaptthem?accurately.Inotherwords,weneededtogetitright.Weknewenoughin2022aboutwhatwasgoingtoWewereabletograduallyadaptthedistributionhappeninthenextyearstolaunchprojects.Itwasnetworks.Theywerenotinasituationofunder-certainlynottooearlytoputinplacetherequiredinvestment.However,thepaceatwhichwehadtoprojects.Wedidnothavethetimetowaitanylonger.transformthenetworkshadtoacceleratearoundToday,inanno2030,ournetworksarereadyforthe2028-2030.Theamountofrequiredinvestmentalsonewusesweanticipated.increasedrapidly,particularlyinthelowvoltagenetwork,whichwasputtothetestbecauseitisatAbouttheintervieweethislevelthatelectricvehiclesarebeingchargedandsolarpanelsandheatpumpsarebeingconnected.FernandGrifnéeistheManagingDirectorofORES,Thisalsomeantthatwehadtoadaptouroperationstheoperatorresponsiblefortheelectricityandgassignificantly.Untilthen,wewereusedtoworkingdistributionnetworksofsome200Walloonmainlyonthemediumvoltagenetwork.Thelowmunicipalities,andawell-knownplayerinthevoltagenetworkismorefine-grained,spansoverenergyworld.AslawgraduatefromULiège,he50,000km(1.25xtheEarth’scircumference)andisworkedintheearly1990sintheofficeofJusticesituatedalongmunicipalroads.MinisterMelchiorWathelet,beforejoiningElectrabelin1995,wherehebecamecommunicationsdirectorInordertorelievethelowvoltagenetworkasmuchasin2002.possible,wehadtoincentivizecertainapplicationsthatusedthemediuminsteadoflowvoltagenetwork,suchas,forexample,photovoltaicpanels.AsfarasORESisconcerned,weknewenoughinAsfarasORESis2022aboutwhatwasgoingtohappeninthenextconcerned,weknewyearstolaunchprojectsandinvest.Sotoday,annoenoughaboutthefuture2030,ournetworksarereadyforthenewuseswetrendstoactin2022.anticipated.ItwascertainlynottooearlytoputtherequiredData&infrastructureprojectsinplace.WedidnothavethetimetowaitEveninanno2030,infrastructureremainsthecoreanylongerbusinessofanetworkoperator.Thisdoesnotmeanthatweneglectdata.Togetherwithsoftwareitisakeyenablertominimizeourinvestments,allowefficientoperation,unlockflexibilityinthenetwork,andoffernewservicestoourcustomers.Inordertoavoidduplicationoftasks,itwasimportantthatthedistributionnetworkandthetransmissionoperatorworkedtogethertodevelopaunique,real-timedataplatforminBelgium,whichwasabletomanagethesignificantamountofdata.Voiceson203035©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.FromenergytransitiontoenergyrevolutionGilSimonResaCEOFromdecentralizedproductiontoelectrification,Renewableenergyeventoday,in2030,theenergytransitionhasmanyimplicationsforaDSOlikeRESA.ThisInparallelwithelectrification,renewableenergiesrequiressubstantialinvestmentsandaboveallahavebeenactivelydeveloped.InWallonia,thelotofanticipation,saysGilSimon.installedcapacityhasmorethandoubledbetween2021and2030,withphotovoltaicenergydevelopingFordecadesthedebateonenergyfocussedmainlyonverystrongly.Andthisisonlythebeginning,aspowerthequestionofthephaseoutofnuclearpowerplants.productionisexpectedtomultiplyby5between2021Russia‘sinvasionofUkrainein2022changedallthat.and2050toreachcarbonneutrality.Soaringpricesmadeenergyamajortopicofcommoninterest.EveryonebecameawareoftheissuesHistorically,ourelectricitynetworkswerenotsurroundingsupply,thankstoexplanationsbydesignedtoabsorbsuchdecentralizedproduction.Aspopularizersinthepress.apublicutility,wehadtodoeverythingwecouldtoensurethateveryconsumerhasaccesstoareliableThiseventhighlightedthetruescaleofthechallengepowergrid.ofthetransition,andevenoftheenergyrevolution.AchievingtheobjectivessetrequiredamajorDoublingelectricvoltageaccelerationofthepace.InWallonia,carbonneutralitymeantreducingenergyconsumptionbymorethanInconcreteterms,theplanweestablishedin2022to50%andreplacingtheuseoffossilfuelsbygreenincreasetheelectricvoltageavailabletoeachalternativessuchasbiogas,e-methaneetc.customerfrom3kVato6.66kVaistoday,in2030,moreessentialthanever.ThisisbasedonaMassiveelectrificationrequirementof2kVafortraditionaluses,2kVaforelectricmobilityand2.66kVaforaheatpump.Attherootofthisenergyrevolutionstandsamassiveelectrificationofuses.Inonedecade,electricityInrecentyears,wehavethereforeinitiatedanambitiousconsumptionformobilitymultipliedbyalmostfiveinvestmentplanof820millioneurotoadaptourtimesinWallonia.networksby2050.Thisisinadditiontoourrecurringinvestmentsofaround80millioneuroperyear.Today,heatpumpshaveclearlymadetheirmark,whichhasalsoincreasedtheshareofelectricityforTofinanceallofthis,weplantocontinuetoturn,heating,atrendthatissettoaccelerateevenmoreamongothers,toinvestors,whoarefondofbondsbetweennowand2050,ashomerenovationissuedbyaplayercommittedtotheenergytransitionintensifies.andwithastablefinancialoutlook.36Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.SmartMeterAbouttheintervieweeBackin2022,ResaaskedWalloniatoacceleratetheGeneralManagerofRESAsince2018,GilSimonhasinstallationofsmartmeters.Theywereessentialtobeenactiveinthegroupthatintegratesthegasandtheenergytransition,andtheywerethepreconditionelectricity,knownasaDistributionSystemOperatortobuildingthenetworksofthefuture.(DSO),intheprovinceofLiegeforover10years.Aconnoisseuroftheenergyworldandlocalpolitics,TheplatformsdevelopedwithourcolleaguesfromheinsistsonthepublicserviceaspectsandtheOres,SibelgaandFluviusandourcommonsmartsocialroleofacompanylikeRESA.meterallowustocollectandanalyzedata.TheP1portenablesustoofferourcustomersapplicationsthatToabsorbthemassiveenablethemtomanagetheirenergyinthebestelectrificationofusespossiblewayandthuseasethetensionontheandthedevelopmentofnetwork.renewableenergies,weneedmorethandoubleThefutureofthegreenmoleculetheelectricvoltageavailabletoeachcustomerAnno2030,theroleoffossilgasintomorrow‘slow-carbonenergymixisclearlyreduced.However,wecannotdowithoutthemolecule,whichstillrepresentsthemajorityoftheenergywetransport.Ourinvestmentsandsupportforsectorssuchasbiogas,hydrogenande-methanearecontributingtothedevelopmentofgreenalternatives.WearealsoparticipatinginthedevelopmentofCO2capturetechnologiesinWallonia.IdealvisionThisscenariothatwehavebeforeusin2030issomewhatidealistic.Unfortunately,unforeseeneventsarelikelytooccuralongtheway.Thatiswhythesectorneedstothinkaboutchangestothetariffmethodology.Whilefive-yearratesprovidevisibility,itisimportanttobeabletotakeintoaccountthechangingcontext,politicalchoicesregardingclimatetargets,etc.Thetariffmethodologyhastoadapttothetransition,nottheotherwayaround.Voiceson203037©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.BuildingonourstrengthsinnuclearpowerHamidAitAbderrahimGeneralManagerofMYRRHA,formerDeputyDirectorGeneralofSCK-CENThe2022crisisbroughtusbacktocertainrealitiesOffshorewindpowerthatwehadcompletelyforgotten.Energytransitionisanabsoluterequirement,butwealsoThisincreaseddependenceonelectricityhasraisedneedlargequantitiesofenergyataffordablequestionsaboutsecurityofsupplyandthetransitionprices.Asaresult,anno2030,nuclearpowerhastolow-carbonsources.Belgiumhasbeenabletorelygraduallyregaineditsplaceasanessentiallinkinontheexpertisedevelopedinoffshorewindpowertothetransitiontocarbonneutrality,saysHamidAïtincreaseitsoffshorecapacity.Abderrahim.ThemostoptimisticstilldreamofdevelopinglargeIn2030,Belgiumfinallyhasadetailedandrealisticwindprojectsininternationalwaters,orevenbeyondroadmapforitsenergytransition.AlthoughfossilgastheArcticCirclewherethewindsaremoreconstant.stillhasanimportantplaceintheenergymix,ithasButwhetherfromatechnicalorpoliticalpointofview,beendefinitivelyrelegatedtothecategoryofenergytherearestillmanyobstacles,andtheseprojectswillsourcestoavoid.Methanehasagreenhouseeffect25notcontributetoBelgium‘selectricitysupplyforthetimesgreaterthanCO2,anditsclimatebalanceisinnextdecade.factburdenedbylossesduringextraction,liquefactionandtransportation.ExtensionofnuclearpowerElectrificationTheextensionofnuclearpowerhasgraduallybecomeanobviouschoice.In2022,thedecisiontoextendNumerousenergycarriersarestillunderdevelopment.Tihange3andDoel4until2035wasatamomentThemostadvancedonesincludehydrogen,whichwhenwewerebackedintoacorner.Buttheenergyremainspromising,especiallyforindustrialuses.Butcrisishadalsoledtoabroaderreconsiderationofitsimpactonthetransitionisstilllimitedin2030,andnuclearpoweraftertwodecadesofprocrastination.itisnotyettherevolutionaryenergyvectorthatweimaginedbackin2022.Today,in2030,theadvantagesoftheatom,low-carbonandcontrollable,aremorevaluedthanever.Inconcreteterms,themaintransformationoftheSocietyrealizedthatnuclearpowerprovidesanenergyenergysystemiselectrification.Theelectriccarisonthatcanbecontrolled,andthereforecontributestoitswaytobecomingwidespread.Especiallysinceenergysecurityatanaffordablecost.Tihange1and2usershavebecomeawareofitsfinancialadvantageinhavethusalsobeenextended,butDoel3hasbeentermsofcost/km,whenallthecostsoveritslifecyclesacrificedonthealtarofpoliticalhesitation.Nucleararetakenintoaccount.powerthusplaysamajorroleintheBelgianenergylandscapeandinkeepingelectricitypricesatalevelof38Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.90-100europerMWh.ThisismuchhigherthanwhatEuratomrelaunchedwewereusedtoin2020s,butstillcompetitive,astheenergycostshaverisenintheothercontinentsasTodevelopthesefourth-generationreactors,Belgiumwell.hasjoinedforceswithotherEuropeancountriestorelaunchEuratom.TheorganizationisonceagainatThecrisisbroughtmorethecenterofthecreationofarealindustrialsector.realismintheenergydebateandmadeEuropeMorebroadly,thewholeissueofenergyhascomereturntoitsroots,backtotheforefrontofEuropeanpolicy.FortheEUwhichwasthecreationthisisarealreturntoitsroots,asitwasoriginallyoftheEuropeanCoalandfoundedprimarilyonthesubjectofenergy(EuropeanSteelCommunity4thatledCoalandSteelCommunityandEuratom).tothefoundationofEuratom5BelgiannuclearexpertiseNewnuclearpowerWithitsdeepexpertiseinnuclearpower,developedsincethe1950s,andtheexpertiseaccumulatedGradually,thequestionofalong-termnuclearstrategythroughtheMYRRHAproject,Belgiumestablishedalsoarose.Intheend,reasonprevailed.BelgiumhasitselfasamajorplayerinEuratomin2030.optedoutofthepressurizedwaterreactorsofthethirdgeneration,preferringtoextenditsexistingplantsuntilAsMYRRHAGeneralMangerandformerDeputy2045.DirectorGeneralofSCK-CEN,thisisobviouslyagreatsourceofpride,especiallysinceourresearchonEventually,theywillbereplacedaround2045bysmalllead-bismuthcoolantalsoallowsustoconsidernewGeneration-4modularreactors,withthepotentialofenergystoragesolutions.beinginstalledonallthecountry‘snuclearsites(Doel,Tihange,Mol,Fleurus),orevenincombinationwithAbouttheintervieweeotherproductionfacilitieselsewhere.ThetrendistocreateenergyhubsthatmanagemultipleenergyGeneralManagerofMYRRHA,formerDeputysourcesandvectorscapableofensuringacontinuousDirectorGeneralofSCK-CEN,Prof.Dr.HamidAïtsupplyandstoring/transformingsurpluses,henceAbderrahimhasbeenleadingtheresearchprojectincreasingthereturnoninvestmentforallcomponentsonnuclearwastetreatment,fuelmaterialsforfissionofthepuzzle.systemsandfusionmaterialsMYRRHAsince1998.HealsoteachesreactorphysicsandnuclearInadditiontothesafetyaspects,themainadvantageengineeringattheÉcolepolytechniquedeLouvainof4thgenerationSMRsisobviouslytheirabilityto(UCL).Passionateaboutnuclearenergysincehisaccommodateusednuclearfuel.Thismeansthatayouth,heobtainedadiplomainIndustrialnewsourceofenergywillopenuptousintheyearsEngineeringinNuclearEnergy(HauteÉcolePaul-tocome,anditwillallowfortheproductionof100HenriSpaak),aDEAinReactorPhysics(Universitytimesmoreenergywiththesamequantityofuranium.ofParis-Sud)andaPhDinReactorPhysicsformtheRecyclingusednuclearfuelwillbecomesecondsameuniversity.Involvedinsociety,Prof.Dr.HamidnatureinEuropeandwillenableustostrengthenourAïtAbderrahimfoundedtheBelgian&Algerianenergyindependence,whilepartlyresolvingtheissueEntrepreneursClubinordertostrengthentheofnuclearwastemanagement.economiclinksbetweenthetwocountries.4Afterthewar,sixEuropeancountriesdecidedtojointlymanagethemainrawmaterialsforthewarindustry(coalandsteel).ThisledtothecreationoftheEuropeanCoalandSteelCommunity(ECSC).TheECSCisconsideredthefirstimpetusfortheEuropeanUnion,intowhichitlatermerged,althoughitdidnotlegallyceasetoexistuntil2002,after50years.5Euratomwascreatedin1957tofurtherEuropeanintegrationandtackleenergyshortagesthroughthepeacefuluseofnuclearpower.Voiceson203039©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.KPMGiscommittedtoplayingaconstructiveroleinthedecarbonizationjourney.Nexttoreducingourowncarbonfootprint,wealsoinvestincapabilitiesthatwillhelporganizationstransform“DanielPaironPartner,GlobalLeadAssetManagementKPMGinBelgium40Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.ToheathomesinBrusselsweneedamixbetweengreenelectronsandmolecules–whynothydrogen?InneMertensSibelgaCEOEnergytransitionisabigchallenge,nomatterinthenetworkandactioningtheflexibilityofthewhereyoulive,butcertainlyinametropolitanareacustomer.likeBrussels.Sibelgadidnotmakeeverydaychoicesinrecentyears,butthedistributionsystemSibelgaalsofacilitatesthecreatingofenergycommunities.operatorwasdeterminedtoensureapathwaytoIn2022,therewereonly5communitiesspreaddecarbonizedenergythroughafairandaffordablethroughoutBrussels.Butinbarelyeightyears,thenumberenergytransition.Wherearewetoday,anno2030,hassignificantlyincreasedrepresenting20%ofBrussels’asksInneMertens,CEOofSibelga.totalelectricityconsumption.Onceanenergycommunityhasformed,weplacethenecessaryintelligentenergyWindenergyisnotanoptioninBrussels–thereisonlymetersatallthemembersofthecommunitytocalculateonewindturbineinthecityandIamlookingatitnow,howmuchenergyeachmemberconsumesandproducesoutthereinfrontofourheadquarters,asIwritethisevery15’.Wethensendtheconsumptionandproductionfrommyoffice.Capturingindustrialwasteheatisalsodatatotheenergycommunityadministrator,whobillsnotanoption–wehaverelativelylittleindustry.There’seachcommunitymemberfortheproducedandauto-reallyonlyonepossibilityforrenewableelectricityconsumedenergy,andtotheenergysupplierfortheproductioninBrusselsitself:solarenergy.remainingnecessaryenergy.SibelgaasamarketfacilitatorHowever,weleavethecreationofenergycommunitiestocommercialplayers.Today,in2030,energysuppliersfullyIn2030,Sibelgafullyplaystheroleof‚notary‘ofthetakeonthisrole.Intheearly2020s,theyweremorelikelyenergysector.Itfacilitatestheprovisionofnewenergytoseethesecommunitiesasathreat,butbynowtheyservicesthroughitssmartmeters,data,andGDPR.haverealizedthevalueofitandarehelpingtocreatethem.Afterseveraldiscussions,SibelgaandEliafoundaEnergyproductionhasbeenuberizedbythegrowingmodusvivendiandcommonvisiononthebalancingactiveroleplayedbythecustomer.responsibilitiesSibelganeededtotake.SibelganowplaysabalancingroleinordertoavoidimbalanceinEnergyproductionhascertaindistrictsinBrusselswhilereconcilingbalancingbeenuberizedandcongestionactivitiesonitsnetwork.ItisindeedtheroleoftheDSOtoensurethesecurityoftheaccesstoelectricityattheleveloftheenergyconsumerorincertaindistrictsbymakingthenecessaryinvestmentsVoiceson203041©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Butwhataboutheating?KeytosuccessIntegratingsolarenergyandelectricmobilityintotheThekeytosuccessforthiswholestory,ofcourse,wasBrusselselectricitygridwillonlyhaveledtolocalthecustomer.Forstarters,thecustomerhadtobeablecongestionproblemsin2030.Butheatingisanotherandwillingtocomealong.Averylargerenovationmatter.In2022,50%ofthefinalenergyconsumptioninprogramstartedinBrusselsin2022,butwealsohadanBrusselswasnaturalgasfortheheatingofhomesandenergycrisis.WereBrusselsresidentsstillabletofreeupbusinesses.Andtheproblemis:everyoneiscoldattheenoughresourcestorenovate?Afterall,in2022,60%ofsametime.IfwewouldheatallBrusselsconsumersBrusselsresidentswererentingand30%werelivinginelectricallytoday,alltogether,wewouldreachunfeasibleenergypoverty.peaksinelectricityconsumption.Inrecentyears,SibelgahasthereforestartedtosupplyWedidastudyofalternativestoelectricheatingasearlyenergytomoreandmoresociallyprotectedcustomers.as2022.AnelectricheatpumponlyworksadequatelyinNotonlythroughasocialtariff,butalsobyplacingsolarwell-insulatedhomesandpreferablywithunderfloorpanelsontheroofsofsocialhousing,incollaborationwithheating,whichrequireshugerenovations.Heatpumpssocialhousingcompaniesandthegovernment.Thewithgeothermalenergythen?Alsonotanoptioninresidentscouldthenbuythisenergyatalowerprice.Brussels.Theonlypossibilityleftisair-to-airheatpumps,whicharelessperformant.MoreflexibilityneededWhynotwith...hydrogen?Inaddition,everyenergycustomerhadtobecomeanactivecustomer,consumingenergymuchmoreItbecameclear:weneededtoheatwithanothermoleculeconsciously.Onlyinthiswaycouldweavoidcongestionaspartofadiversifiedmixofsolutionsforheatingbesidesandoptimizebalancing.Wearecurrentlyworkingwithelectrification.Thiscouldbebiomethaneorsyntheticgas,implicitandexplicitflexibility.butwealsowantedtoanalyzewhetherhydrogenwouldbeanoption.Fromourstudy,hydrogenprovedtobeaWithimplicitflexibility,weusepricestosignaltothepossiblesolutionforheating,especiallyinthosecustomerinwhichperiodsitisbettertouseenergy.Theneighborhoodswherehomesaredifficulttorenovate.chargingofelectricvehiclescancertainlybecontrolledthisway.Heatingnotsomuch.Inthebiggerpicture,hydrogenbecameAretheresupplyriskswithcertaincustomersortechnicallyandneighborhoods?Thenwepushtheemergencybuttonandeconomicallyfeasibleforceexplicitflexibility,sothattheentirenetworkdoesnotshutdown.In2022,wealreadylookedattheexceptionalHydrogenwasexpensivebuttakingthetotalcostcircumstancesinwhichthiscouldbepossible,todaythis(includingthecostofrenovationsandmanagingthehasbeenclarifiedandwecanactuallydothis.Verysystemcosts)intoaccountitappearedinsomecasestemporarily,ofcourse.feasible,botheconomicallyandtechnically.Wehadtoreplacecertainsleevesandtaps,butwecouldsimplyTimeforamasterplanreusethepolyethylenepipesofourgrid.Andtoavoidtheneedforeveryonetohaveahydrogenboilerintheirhome,Thechallengesinrecentyearshavebeenenormous.Towewouldbuildheatnetworksattheneighborhoodlevel.meetthem,policy,theregulator,andthegridoperatorsalsohadtocometogether.WehadtoarriveatarealOnemainquestionthatremainedwasandis:wouldtherecooperationmodel,withaholisticvisionandacompletebeenoughhydrogen?Whocouldsupplyit?AndwouldmasterplanforBrussels.In2022,wealreadyhadpiecesthathydrogenbegreen?Butintheend,whethertheofthepuzzle,buttoday,in2030,weareputtingthesolutionisbiomethane,syntheticgas,orhydrogen,thecompletepuzzletogether.Nowwehave20yearslefttoBrusselsRegionisalwaysgoingtohavetoimportgreenmakeitallhappen.Andwebelieveinit.molecules.AbouttheintervieweeHavewerealizedthisambitiousprojecttoday,in2030?Notquiteyet.Butifallgoeswell,by2050,wewillbeInneMertensknowstheenergysectorinsideout.ShecompletelyoffnaturalgasinBrussels,period.beganhercareeratElectrabelin1998,thenjoinedORES,Wallonia‘slargestdistributionsystemoperator,asDirectorofCustomers&Marketsin2009.SinceFebruary2022,shehasbeenCEOofSibelga,theBrusselsdistributionsystemoperatorforelectricityandgas.42Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Acomprehensiveenergyvisionandcollaboration:thekeytoagreenerfutureTheenergymixinEuropeadecadeagoismadeupofaround25%electronsand75%molecules.By2030,weneedtoreducetheshareoffossilfuelsbyintroducinggreenhydrogeninordertoreachthenet-zerotargets.Atthatpoint,theroleofrenewablesinthemoleculepartshouldhavestronglyincreased,greatlyreducingourrelianceonfossilfuels.MarcoAlveràTESH2GroupCEOThecurrentenergycrisishasdemonstratedthatweOureNGisacompletelyneedtoacceleratethemovetorenewables.AtTES,renewableLNG,producedweplantoaccelerateaseamlesstransitionfromthebycombininggreenuseoffossilgastogreengas.By2030,differenthydrogenandCO2toindustryplayerscangraduallyshifttheirshareoffossilcreateelectricnaturalgasfuelstowardseNG(greengas)providedbyTES.(CH4).ThisformismucheasiertotransportInaddition,by2030theelectrolyzercapacitywillhavebecauseitcanbeusedlikelyincreased,makingiteveneasierandmoredirectlyintheexistingaffordabletoproducehydrogenandthereforemorepipelinenetworkseNG.GreenhydrogenmoreaffordablethanmethaneUntilafewyearsago,thepriceofgreenhydrogenwastoohigh.Now,thepriceofsolarpowerandotherrenewableenergysourcesisgettingcheaper,makingitpossibletocreategreenhydrogenatareasonablecost.Ithasevenbecomelessexpensivetousegreenhydrogenthangas.Thistendencywillmakegreenhydrogenevenmoreaffordableby2030.Voiceson203043©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Toremaincompetitive,itThegoodnewsformanycompaniesandindustryiscrucialthatEuropeplayers-thatarethinkingaboutdecarbonizingandsupportsthebuildingofcreatingamoresecureportfolioofenergysupply-isnewfactoriesforhowcheapgreenhydrogenanditsderivativesareelectrolyzersandsolargoingtobeinthenextdecade.panelstoreallyrampuptheproductionofgreenThefirstdeliveriesofgreenhydrogenintotheTEShydrogenterminalinWilhelmshaven,Germany,areexpectedtotakeplacein2026.By2030,TESwillhavedevelopedgreenhydrogenproductionglobally,withimportantlocationsinAustralia,Europe,theMiddleEastandAfrica.Withthis,TESwillbeatthecenterofthetransitiontoanewenergysystemthatwillbeaffordable,secureandclean.Asaresult,ourcompanywillbeacentralandreliablepartnertodifferentindustryplayerswhowanttophaseouttheirconsumptionoffossilfuels.EUmemberstatesneedtosticktogetherAbouttheintervieweeItalldependsonstorage.TheEUgasmarketisatrulyMarcoAlveràhasmorethan20yearsofexperienceEuropeanmarket;therearenoboundariesforgas.IfinenergycompaniesandistheauthorofThethereisacrisisinoneEUcountry,itwillbefeltintheHydrogenRevolution.Hebeganhiscareeratothercountries.IfitiscoldinoneEUcountry,itiscoldGoldmanSachsbeforestartingandsellingatelecomatthesametimenearlyeverywhereintheEUwhichcompany,andthenjoiningEnel,oneoftheworld’sresultsinEuropeancountriescompetingforscarcelylargestgreenelectricitycompanies.Heavailablegas.ThebigriskisthatsomecountrieshavesubsequentlyworkedforEni,theoilandgasmajor,thepowertoclosetheirbordersforgas.Wemightforover10yearsinseniorpositions,andfrom2016justmanagetogetthroughthewinterof2022/23to2022wasCEOofSnam,whichMarcopositionedsincegasstoragefacilitiesarerelativelyfull.But,forasaninternationalleaderingreengasandgreengasthewinterof2023/24,thesituationwillbecomeeveninfrastructure.Since2017heisNon-Executiveworse.DirectorofS&PGlobal,whereheisalsoChairoftheFinanceCommittee.MarcoAlveràbecametheCEOToovercomethiscrisis,weneedtolookattheofTESinJune2022.situationasacommonEuropeangascrisisthatcanonlybeaddressedwithEuropeansolutions,suchaspricecaps.Whenitcomestoprices,wecanonlydealwithandcapthewholesalepricebycollectivelypurchasingLNGacrossEurope.WealsoneedtobuildstrongsolidaritymechanismsacrossEurope,therebyreducingtheriskofcountrieshoardinggasandencouragingEUmemberstatestohelpeachother.ThefutureisgreenhydrogenWe’reinthesituationwearetodaybecausewedon’thaveacomprehensiveenergyvisionandrelytooheavilyoneithergasorelectricity.TESisheretocreateabridgebetweentheelectricpartoftheenergymixandthemolecularpart.Weareusingrenewableelectricity,suchassolarandwindpower,toproducegreenmoleculesthatareeasytotransportaseNG.Thisisparticularlyimportantforcertainusecasessuchasheavymobilityandforsomeindustries,sincenoteverythingcanbeelectrified.In2030,TESwillbeontracktowardsitsgoaltosupply10%ofthetotalannualprimaryenergydemandofGermanyby2045withitseNG.44Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.MarcBensadounTotalEnergiesPower&GasBelgiumVPCustomerSupply&ServicesBE-NLBelgium’sPragmatismeconomicdevelopmentisAfterfacingmanysuccessivecrises,fromCovidtointimatelylinkedtoenergyprices,Belgium’spioneeringspirithasbeenenergytransitionhighlychallenged.Oneofthemajorpitfallsinestablishingchangewasstayingtoohung-uponAsanenergypioneer,Belgiumalmostlostitsradicalconceptsandsomedogmatismaroundhowtohistoricaladvantageontheeveofits200thacceleratetheenergytransition.Asasymbolofthisanniversary.Butareturntopragmatismandaagitatedperiod,BelgiumshutdownitsnuclearreactorwillingnesstomoveforwardtogetherhaveputitDoel3amidstanenergycrisisafterRussiainvadedbackontrack.ThewidespreaduseofsmartmetersUkraine.hasledtoarealtransformationofthesector,saysMarcBensadoun,VPCustomerSupply&ServicesWhilethedecisioncouldbeexplainedtechnically,theBE-NLatTotalEnergiesPower&GasBelgium.debatesurroundingthepowermixwassymptomatic.SowasthegreatdiscrepancybetweenthedebatesonFromcoalminingtorenewableenergies,fromnucleartheaccessibilityofcallcenters(intheageofapps)andpowertothetransitofhydrocarbons,Belgium‘stheInternetofEnergylaunchedbyElia.economicdevelopmentisintimatelylinkedtoenergy.AtrendthathasbeenconfirmedsincethebeginningFortunately,crisisisoftenasourceofpragmatism,ofthiscenturyandthatisstillgoingontodayin2030.nationalcohesion,innovation,andnewopportunities.Despiteitsnarrowcoastlineandlimitedsunshine,theAllstakeholdershavearoletoplay:thefederalcountryhasmanagedtobecomeoneoftheworldgovernment,theRegions,thenetworkoperators,theleadersinoffshorewindpowerandresidentialsolarenergycompanies,andtheconsumers–allofthempanelinstallation.together.Adialoguethathasallowedpragmaticsolutionstoemergeandenableconcreteprogressintheenergytransitionandthetransformationofthesector.Thisdialogueamongstakeholderswasnotcommoninthetwentiesastherewasnotyetacultureoftrust,norbodieswhowouldencourageit.Ensuringsecurityofsupply,transitiontowardsdecarbonization,affordabilityofenergyneeds,andnewconsumptionneedacultureofsolidarityandconcertation.Acultureof‘bettertogether’wasvitalforthecountry,theclimate,andourplanet.Eachonehadaroletoplay.Voiceson203045©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Thishaschangedconsiderably.Energycompaniesarelongerusedonlyasameansofemergencycontactorasanowmoreconsideredaskeypartofthesolution.Thislastresortintheeventofaspecificproblem.Mostoftheenergycrisisgotusaseatatthetable,andwebecameancommunicationisdonethroughanapp.important‘sustainable’partnerinsolutionbuilding-notonlywithashort-termview,buttoshapethefutureoflowThroughtheseapps,thecustomercanfindallthebasiccarbonenergy.information(suchascontractsandbills),requestaninterventionincaseofaproblem,andreceivemanytipstoArealisticroadmapbettermanagetheirconsumption.Arealisticroadmap,integratingallavailablelowcarbonThecompilationofdataandtheoreticaldisaggregationenergysourceshasbeenestablished.Today,Belgiumisschemeshavemadeitpossibleforthepastfewyearstochampionofmanagingrenewables,movingstep-by-stepreallyaccompanytheconsumeronadailybasis.Wecantowardscarbonneutralitywhileacceleratingenergyinformthemofanydeviationintheirconsumptionanditssobrietyandefficiency,whilelimitingitsdependenceonprobableoriginwithouthavingmultipliedthemetersforimports,whichareoftensubjecttothesamehazardsaseachoftheirappliances.Belgianproduction(availabilityofwindandsun).ItrealizedthathavingproductioncapacityonitsownterritoryisaTheendofpuresuppliersmajorassetensuringsecurityofsupply,climateambitionsandaffordableprices.Moreover,theroadmaptookanRegardingthecompositionofthesector,themainelectricitycapacitymixintoaccountthataimedtoreduceevolutionofthelasteightyearsistheprogressivesystemimbalanced,whichwereextremelyhighbackindisappearanceofmostofthepuresuppliers.Theenergy2022comparedtoneighboringcountries.crisisof2022-2023andtheincreasedvolatilityofenergypriceshavetakentheirtollontheirbusinessmodel.ToInthewakeoftheadvertisingcampaignlaunchedin2022remainsustainable,theyhadtode-riskandtransformtheirtoencouragehouseholdstoreducetheirconsumption,relationshipwithcustomersasacatalystforbeingboththesectorandtheauthoritieshavebeenabletomovestrongactorsintheenergytransition.forwardtogetheronnumerousprojects.Today,in2030,thelargeenergycompanieshaveamajorTheenergycrisisandsoaringpriceshaveservedasroletoplay.Theymanagetheauto-productionofthecatalysts.Consumersnolongerlookattheirbillswithaconsumersandsupplygreenenergyfortheremainder.Asdistractedeyebuthavebecomeawareofthefinancialasupplier,theymusthavesufficientproductioncapacity(andenvironmental)benefitsofbettermanagingtheirandneedsassetstoprovideflexibilitytothenetwork.consumption.Today,in2030,theyhavebecometrueTotalEnergies,whichhasalwaysappliedanintegratedconsumersandprosumers.modelstrategyforpowerandgas,haslargelyanticipatedthisenvironment.SmartmeterOneofthekeypointsofthisevolutionistheprogressiveAbouttheintervieweegeneralizationofsmartmeters.Belgiumhasgonefrombeingalatecomertoapioneerinthisfield.TheauthoritiesVPCustomerSupply&ServicesBE-NLofhavesucceededinreassuringthegeneralpublicandTotalEnergies‘gasandelectricityactivitiesinmakingthemawareoftheadvantagesofsmartmetersinBelgiumandtheNetherlands,MarcBensadounhasthefaceofthemanyurbanlegendsincirculation.spentalmosthisentirecareerwiththeFrenchenergygiant.Inparticular,heoversawtheToday,allactorscanfullyexploitthedataandpossibilities.acquisitionofLampirisinBelgiumandthelaunchofTheconsumercanmoreeasilyfollowandmoreefficientlyitsgasandelectricityactivitiesinFrance.managetheirconsumption.ThepossibilitiesofdatacommunicationfacilitatetheoptimizationoftheelectricThemainevolutionofthecarchargeandthestorageoftheproductionofitssolarlasteightyearsisthepanelsforexample.progressivedisappearanceofmostofthepureAllthisallowstheconsumertorationalizetheirbillswhilenonintegratedsupplierscontributingtostabilizinganetworksubjectedtoahighertensioninacontextoftransition.IncreaseddigitalizationThisnewrelationshipbetweenconsumersandenergyprovidersismuchmoredigitalized.Callcentersareno46Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.WemustalsoproduceourowngreenhydrogenPaulTummersViryaEnergyCEOWhatwillourenergysupplylookliketoday,annorelyingonlyonimports,wehadtothinkaboutnew2030?Moresustainableandlessdependentongeopoliticaldependencies.So,diversificationwasoneothercountries,thatisforsure.Thewarinofthemainconsiderations,aswedevelopedourUkrainemadeusrealizethatwedependedtoo[national]plans.muchonRussiangas,exposingourvulnerabilitytoanundiversifiedenergysupply.So,westartedDiversificationofenergyrelyingmoreongreenhydrogen,madewithsourceswaskeytorenewableenergy.Wherewouldwegetthisensuringenergysecuritygreenhydrogenfrom?DidwehavetoproduceacertainamountofhydrogeninEurope?PaulDidweenvisageproductionofgreenhydrogeninTummersexplains.Belgium?I’mconvincedwedid,inpart.Conversely,backin2020s,youheardvoicesagainsttheideaofIn2022,weconsumedabout400TWhinBelgium,ofproducinggreenhydrogendomestically,withthewhichalmost80TWhwereelectric.In2030,weareonargumentbeingitwouldwastescarcegreenpower.ourwaytoincreasingtheshareofelectricitydrasticallyThereissometruthtothis,butit’snotthewholestory.duetothefurtherelectrificationofoursociety.ButweWehadtomakechoices,weighingallthecostsandalwaysknewthatnoteverythingcouldbeelectrified.benefits.Todayin2030,wehaveanexcessofgreenImaginehavingalltrucksdriveelectrically.Whilepowerproductionatcertaintimesoftheday,whichwetechnicallypossible,it’snoteconomicallyfeasible.cannotallstoreinbatteriesandthereforeweconvertToday,welivewiththisreality.Thefuturethatisthisexcessgreenelectricityintogreenhydrogenthatunrollingin2030iscertainlyacombinationofelectricitycanthenbeusedwhenneeded.andgreenmolecules.Butthenagain,thequestionis:wheredowegetthosemoleculesfrom?Inrecentyears,oursocietyhasbecomemuchmoreawarethatenergyisalimitedresourceandtrade-offsImportgreenmolecules,butalsoproducethemhadtobemadeonitsusesateverylevelofsociety.locallyLetmesayitrightaway:werealizedthatweneededtoimportgreenhydrogen(orderivativesthereof)tomeetenergydemand.Wecouldbuildtheinfrastructureforthatfairlyquickly.Butthensomeofthegreenhydrogenhadtobeproducedsomewherelocally,andsomehadtobeimportedthroughtheportsofZeebruggeorAntwerp.Thatrequiredhugeinvestments.AndbyVoiceson203047©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Whowillchoose?AbouttheintervieweeShouldEuropemakethesechoices?Yes,thisisthePaulTummersisCEOoftheenergyholdingmostappropriatesolution.EspeciallyifyouhavetocompanyViryaEnergy,partoftheColruytGroup.weighthecostsandbenefits.It’saboutmakingtheQuietly,ViryaEnergyhasgrownintothelargestbestchoicestogether,withouteveryonethinkingaboutgreenenergycompanyinBelgium.Itisagreenthemselves.Decisionsshouldbebasedonfactsandenergyempireworthmorethan2billioneuro,theguidingvalueofsolidarity.Only,howdoyouexplainstretchingfromNorwaytoIndia.Previously,Mr.thistoEUcitizens?Atsomepoint,though,wejusthaveTummershadworkedatFluxysfrom2000,wheretotellitlikeitis.hewasCFO.Thesolutiontoenergytransitionisapuzzlewithmanypieces,andeachpiecebringspartofthesolutionWorkingoneverypieceofthepuzzleLook,thesolutiontoenergytransitionisapuzzlewithmanypieces,andeachpiecebringspartofthesolution.Awarenesshasalsogrowninrecentyears–everyoneisliterallyfeelingclimatechangefirsthand.Politically,allthisisnotalwaysobvious,becauseeverythinghasitsprice.Butagain,doingnothingisthemostexpensiveoption.Wewillcontinuetohavetochoosewhattoputfirst,ourfuturedependsonit.ViryaEnergykeepsoncontributingtotheenergytransition,byproducingmorerenewableenergyviaonshorewindenergy,whichwewereabletoexpandsignificantlyoutsideourtraditionalhomebases–BelgiumandFrance–intoseveralnewcountrieslikePoland,andviasolarenergyforSMEsandinthefieldviaagro-voltaics.Bothpathscontinuetoofferenormouspotential.Atthesametime,wearealsofocusingontheintermediatelinks,suchasthehydrogeneconomy,makingsurethatrenewableenergyreachestheendcustomerandensuringthattheycanusefitforpurposeenergyatanaffordableprice.48Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.ThesecurityofenergysupplycrisisthatacceleratedtheenergytransitionBefore2022,wehadtomeetEuropeanclimatetargetstosaveourplanet.But,asimportantasthatwas,itstillprovedadifficultargumenttoconvinceeveryone.Thenweexperiencedanimportantsecurityofenergysupplycrisis.AmomentthatalsoshowedthatEuropeanenergyspotmarketsworked,butthatweneededtosupplementthemwithalonger-terminvestmentframework.Prof.Dr.LeonardoMeeustellsuswhy.LeonardoMeeusVlerickBusinessSchoolProfessorSincethe1990s,EuropehasbeenpushingstronglytoRussiacutoffgassuppliesviaUkrainetwice.ButthatliberalizetheEuropeanelectricitymarket.ThatwascouldnotconvincetherestofEuropetoreducetheirsupposedtoleadtomorecompetition,andthustodependencyonRussiangas.Thankstoinfrastructuresufficientenergysupplyataffordableprices.AndprojectssupportedbytheEUwearenowabletoguesswhat:thatliberalizedEuropeanmarkethasnotmovegasmoreeasilyfromthewesttotheeastwhenfailed.Iunderstandthatthisisaboldstatement,theeastisshortofgas,butthemassiveimportsofespeciallyifIhadmadeitin2022,duringthetimeofgasfromRussiacontinues.extremeenergyprices.Butstill.Itiscorrect.Afterall,theEUmemberstatesthemselvesdecidedAfterall,theenergycrisiswouldhavebeenmuchwheretheyboughtgas.SocountrieslikeGermanyandworsehadwenothadthismarket.SomememberItalycontinuedtoimportmostoftheirgasfromstatessufferedmorefromtheenergycrisisthanothers,Russia.Whichisunderstandable:Russiangaswassobutthankstothemarkettheyallgotextraenergyfromreadilyavailableandsocheap.Butthatchoicewouldother“drawers”exactlywhentheyneededit.Andascostusverydearlyin2022,whenweallrealizedthatextremeaspriceswere,theywouldhavebeenmuchwehadtocutourtieswithRussiangas.higherhadtheynotbeenlinkedacrossEuropeanborders.Thatdampenedthevolatility.EverythingchangedinFebruary2022QuiddependenceonRussia?ItwasthemomentwhenRussiainvadedUkraine,toppedbyanenergycrisis.AsdramaticasthateventSoyes,ourenergyspotmarketsareworking.Andno,was,italsohadpositiveconsequences.Europeanpolicyhasnotfailed.NeitherwithrespecttoourdependenceonRussiangas.Look,from2006-SuddenlywehadtoaccelerateEurope‘senergy2008,EasternEuropealreadyexperiencedatfirsttransition,otherwiseweriskedlosingourenergyhandthatRussiacoulduseenergyasaweaponwhensupply.SowesteppeduptotheplateinEurope,Voiceson203049©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.workingtogethertomaketheenergytransitionIntheend,weachievedhappenandmeettheEuropean2030climateandtheEuropeanclimateandenergytargets.Ofcourse,intheshorttermwedidenergytargetssomethingsthatdidnothelptoreduceourgreenhousegasemissions,suchasrestartingcoal-Withoutadditionalregulation?firedpowerplants.ButatthesametimewemadealotmoreinvestmentsinrenewableenergyandstorageSpotmarketsworkedduringthe2022energycrisis.solutions,whichputusontherighttrack.ButadditionalregulationwasneededtoreformthewholesalemarketsothatitcouldsteertowardstheHowtheenergycrisiscalmeddownnecessaryinvestmentsinrenewableenergyandbackupsolutions–coupledwithregulationthatThealternativewaysofproducingelectricitywerealsosimultaneouslyprotectedutilitiesfrominvestmentcheaperthannaturalgas,whichencouragedusevenrisks,andconsumersfromexcessiveenergyprices.moretoinvestinalternativeenergysources.WedecoupledthepricesfornaturalgasandelectricitybyBut,intheend,itallworkedout:werapidlymadetheinvestinginrenewablesandstorage.Weacceleratednecessaryinvestmentsinrenewableenergy-thusstillthetransitionfromnaturalgastowardsrenewableachievingtheEuropeanclimateandenergytargetsofgasses,suchasgreenhydrogenandbiomethane.2030-graduallysolvedtheenergycrisis,cuttieswithRussiangasandlearnedtouseenergymoreOtherpositiveconsequencesincludedmeasurestoconsciously.Great!reducegasdemand.Ifwecapenergypricestokeepthemaffordable,weincreasetheenergyshortage,Abouttheintervieweebecausethendemandincreases.If,ontheotherhand,wereducedemand,pricesfallandwesolvetheLeonardoMeeusisaformerprofessorandpartnershortage.Butweallhadtolearnthelatter,weighedofVlerickBusinessSchool.Heiscurrentlyadownbyextremeprices.professorattheEuropeanUniversityInstituteandtheKULeuven.HeisalsotheDirectoroftheIfwereduceourdemand,FlorenceSchoolofRegulationandtheLoyoladepricesgodownandwePalacioChaironEuropeanEnergyRegulationandsolvethedeficitPolicyintheRobertSchumanCentre.Today,somanyyearsaftertheenergycrisis,consumersarecertainlyadjustingtheirdemandbettertoprices.Wealsohavemoreappliancesinourhomesthatallowustodoso,suchasheatpumpsthatheatourhomesduringtheday,whensolarpanelsyieldmore.Energyisalsohighontheagendaatindustries.Nolongersimplyforimagepurposes,buttosurvive.Generaldemandhasnaturallyincreased,forexampleduetoelectricvehicleswhichrequiredadditionalinvestmentsintheelectricitynetwork.Hence,Ihopethatthetariffswepaytodayin2030reflectmuchmoretheinvestmentcostssothatconsumersleveloffpeakconsumptionandwedon‘tinvestmorethannecessary.Thecapacitytariffwasafirststeptothatend,butnotthelast.Ultimately,whatweneedtodoiseliminateourcommonpeaks.50Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.Voiceson203051©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.AcknowledgementsThisreportwasverymuchateameffort.Aspecialthankyouto:TheSales&MarketingTeamatKPMGinBelgium,JornDeNeve,MagaliVercammen,DanielPairon,PhilipJeandarme,RebeccaVercoutere,MarciaDeKeersmaeker,AntoniaLauterbach,ArthurRubinsteinandSofiaLanfranconi52Voiceson2030©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE”)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.ContactsJornDeNevePartner,HeadofEnergy&NaturalResourcesKPMGinBelgiumjdeneve@kpmg.comMagaliVercammenSectorLead,Energy&NaturalResourcesKPMGinBelgiummvercammen@kpmg.comDanielPaironPartner,GlobalLeadAssetManagementKPMGinBelgiumdpairon1@kpmg.comPhilipJeandarmeDirector,Energy&NaturalResourcesKPMGinBelgiumpjeandarme@kpmg.comkpmg.com/bekpmg.com/be/socialmediaTheinformationcontainedhereinisofageneralnatureandisnotintendedtoaddressthecircumstancesofanyparticularindividualorentity.Althoughweendeavortoprovideaccurateandtimely­information,therecanbeno­guaranteethatsuchinformationis­accurateasofthedateitisreceivedorthatitwillcontinuetobeaccurateinthefuture.Nooneshouldactonsuchinformation­withoutappropriateprofessionaladviceafterathoroughexaminationoftheparticularsituation.©2022KPMGCentralServices,aBelgianEconomicInterestGrouping(“ESV/GIE“)andamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.
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