Major utilities agree to take coordinated actions towards flexible and adaptive energy systems at annual CEO Summit

May 28, 2014

The heads and representatives of the largest electricity companies around the world convened in Moscow, Russia for the Global Sustainable Electricity Partnership’s annual CEO summit. Hosted by RusHydro, the 2013-2014 outgoing Chair Company of the organization, the discussions at the Moscow Summit revolved around the theme of innovation and the energy systems of new generation. Faced with new challenges in the 21st century, the power industry is taking proactive steps to identify appropriate measures and solutions.

Through the Moscow Summit discussions, the GSEP Chairmen, representatives and their guests shared their insights from different local and international perspectives. From the discussions, it is clear that to address the new challenges and to achieve sustainable development in the power industry and promote investments, a coordinated global effort among all stakeholders is required.

As leaders of the largest electricity companies in the world, the Chairmen and representatives issued a Summit Statement outlining GSEP’s commitment to actively work on finding solutions to the new trends and technical issues that are significantly affecting the current business models of the electricity industry. For GSEP’s members, these solutions must address the essential priorities of ensuring security of supply while providing affordable energy in a sustainable and environmentally friendly manner. One such effective solution is the creation of flexible and adaptive energy systems consisting of several key elements: smart grids and energy storage well integrated with electricity generation and distribution systems, regional energy hubs and long-range ultra-high-voltage (UHV) lines. A more reliable and efficient electric grid should be a solid foundation consolidating these components and stable, transparent regulatory systems play a key role. In the communiqué, GSEP members agreed to undertake coordinated actions toward the sustainable development of such energy systems. 

GSEP is convinced that active steps will remove the obstacles to achieving sustainable development. GSEP remains firmly committed to playing a leading role in this process.

At the occasion of the Moscow Summit, the GSEP also issued its 2013-2014 Annual Report, with a special feature on the projects completed this year, as well as updates on our ongoing projects.