OT SIG Meeting – October (Online)

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Speaker: Kathryn Porter – Watt-Logic

Topic: ‘Cakism in Energy Policy begins to bite’

Abstract

The Cambridge English Dictionary defines “cakism” as “the wish to have or do two good things at the same time when this is impossible”. Energy policy is full of it – the desire to replace dispatchable generation with intermittent generation while maintaining security of supply; the desire to end the use of fossil fuels while expecting energy companies to continue to invest and increase production at the drop of a hat; the desire to maintain a nuclear capability without making the necessary investments; the desire to transform the energy system without it costing anything (or at least without consumers noticing that it will cost anything).

But the effects of covid and the war in Ukraine have exposed the many flaws in the policies of the energy transition across the developed world, and policy-makers appear to have no answers. This is why we are seeing governments committed to net zero turning back to coal in order to keep the lights on, the prospects of blackouts, and the complete breakdown of market mechanisms.

It’s time for policy-makers to take an honest look at their net-zero ambitions and strip out the wishful thinking. The energy transition is possible, but it won’t be cheap, and can’t necessarily be achieved by 2050. And based on currently-available technologies, countries without access to sufficient hydro-power or geothermal energy will not be able to reach net zero without nuclear. Accepting these realities is the first step to correcting past mistakes and planning for a transition that actually works.

Kathryn Porter – Watt-Logic

Kathryn Porter is an independent energy consultant with experience of physical and financial electricity, gas, and oil markets. She also has significant experience in financial services spanning both risk management and financing.

Kathryn started Watt-Logic in 2016, initially as a blog which grew into a consulting business. She works with clients across Europe (both EU and non-EU) on a range of energy topics. Examples of projects include negotiating a route-to-market arrangement for CCGTs, advising new entrant electricity suppliers on procurement, risk management and regulatory obligations, assisting businesses in evaluating new investments in behind-the-meter storage and energy-from-waste, and acting as an expert witness in an infrastructure-related dispute.