Welcome to the latest issue of Future Power Technology.
In this issue, we look at a pressing concern in the UK power industry that threatens to grow into a full-scale crisis. Already this year, the country’s price cap – intended to protect customers from the volatility of the global energy industry – has jumped by close to $1,000, and analysts are now suggesting that the average UK energy bill could be close to $4,500.
On the one hand, extraordinary factors have influenced the cost of energy in both the UK and the world; Russia’s invasion of Ukraine and the resulting sanctions imposed by foreign powers have driven the price of power up across the globe. But on the other, the purpose of a price cap is to protect consumers from exactly this kind of once-in-a-generation supply chain volatility, and the passing on of costs to the average person, while energy companies from a range of sectors post record-breaking profits, has caused widespread dismay.
In this issue, we ask whether the UK’s power infrastructure has contributed to this sudden increase in prices, and consider what can be done to better protect consumers from similar disruption in the future, with many in the UK facing the bleak prospect of having to choose between heating their homes and buying food come winter.
Elsewhere, we look at some of the cutting-edge technology improving efficiency in the global power industry. From drones used to inspect power lines to advanced modelling techniques, the power sector is no stranger to innovation, and all that remains is for these processes and practices to become embedded into the fabric of the industry.
We also go around the globe to assess the merits of some of the most exciting projects in power, including geothermal facilities in Japan and offshore projects in Egypt, which aim to balance fossil fuels and renewable power, and could set a blueprint for other countries to follow.
For all this and more, read on.
JP Casey, editor