Ottawa – May 12, 2015 – A new study released today profiles examples of how innovation is being financed in the electric and natural gas utilities industries in select markets.
The Canadian Electricity Association (CEA) and the Canadian Gas Association (CGA) commissioned Concentric Energy Advisors to update a 2014 study on driving innovation in the electric and natural gas industries.
“Stimulating Innovation on Behalf of Canada’s Electricity and Natural Gas Consumers: A 2015 Update” reviews numerous case studies to assess specific financing sources, approaches and expected benefits from technology innovation programs or projects. The full report can be found on the CGA, CEA, and Concentric Energy Advisors websites.
“The electric and natural gas utility sector has long believed that investing in end-use energy technology innovation promises more affordable, efficient, and reliable energy services for Canadian households and businesses while creating jobs and bolstering Canadian competitiveness,” said Timothy M. Egan, President and CEO of the Canadian Gas Association. “This latest study profiles a number of examples of what’s going on now, helping to feed the conversation as we look to driving innovation for the future”.
Potential advances in energy technology cited in the study include more efficient end-use equipment, low-emission customer-sited generation, energy storage, integrated gas/electricity solutions like micro combined heat and power, and a “smart energy network” that integrates emerging technologies in a way that preserves the reliability and resiliency of the distribution system.
“Innovation in the energy utility sector holds clear and indisputable benefits for consumers, utilities, governments, the environment, and the economy,” said the Honourable Sergio Marchi, President and CEO of the Canadian Electricity Association. “This update provides a valuable assessment of the financing options available to regulators, policymakers, and utilities to encourage innovation for the benefit of all.”