Energy Trading Week Insider: navigating the digital energy transition
27 November 2023
In this interview, Howard Walker, CEO of America's for Commodities People, talks with Talis Bennett-Verschure, one of Baringa’s Energy and Resources experts about the digital energy transition and its impact on the energy market. They discuss the challenges organizations face in keeping up with rapid developments in technology and data insights, especially in the context of the ongoing energy transition towards low carbon solutions.
Talis highlights increased volatility in commodities due to geopolitical tensions and the energy transition. Businesses are striving to be scalable and flexible across people, processes, and technology to adapt to the changing market. Traditional Energy Trading and Risk Management (ETRM) systems are seen as insufficient for supporting new requirements associated with low carbon technologies and advanced analytics.
The conversation explores how the role of ETRM is evolving from being the central hub of trading data and technology to a more data-centric approach. Talis emphasizes the importance of low-code and no-code tools, quicker access to trusted data, and data analytics independence from IT. They also discuss where organizations stand in their data transformation journey, with some struggling to start, some losing sight of value capture, and others advanced but struggling to find experts to scale their technologies.
Overall, the interview sheds light on the challenges and opportunities presented by the digital energy transition and how organizations can navigate this complex landscape with the help of experts like Baringa.
Related Insights
Three ways in which increased volatility and flexibility are reshaping Spain’s energy market
Spain's energy market faces profound change due to curtailment, negative prices, and a recent blackout, discussed at our roundtable event.
Read more
Turbocharging the benefits of Great Britain's emerging home energy efficiency sector
Improving the energy efficiency of residential housing stock to an Energy Performance Certificate (EPC) rating of C or above is not just an environmental necessity but also a powerful economic strategy that can deliver multifaceted benefits for society.
Read more
Trump trade tariffs: Impact on the UK EV uptake
The global automotive industry is at a critical juncture, shaped by intersecting forces of electrification, geopolitical trade tensions, and national decarbonisation policy.
Read more
Driving economic growth by securing a cleaner and resilient future for the North Sea
Our report, published in conjunction with Offshore Energies UK (OEUK), outlines how the North Sea can continue to play a pivotal role in the energy system as the world shifts to net zero, while positioning the UK as a resilient, innovative and competitive player in the global energy landscape.
Read moreIs digital and AI delivering what your business needs?
Digital and AI can solve your toughest challenges and elevate your business performance. But success isn’t always straightforward. Where can you unlock opportunity? And what does it take to set the foundation for lasting success?