Reference : Systemic risks in electricity systems: A perspective on the potential of digital tech...
Scientific journals : Article
Engineering, computing & technology : Energy
Business & economic sciences : Management information systems
Security, Reliability and Trust; Sustainable Development
http://hdl.handle.net/10993/53581
Systemic risks in electricity systems: A perspective on the potential of digital technologies
English
Körner, Marc-Fabian [> >]
Sedlmeir, Johannes mailto [University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > FINATRAX]
Weibelzahl, Martin [> >]
Fridgen, Gilbert mailto [University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > FINATRAX]
Heine, Moreen [> >]
Neumann, Christoph [> >]
2022
Energy Policy
164
112901
Yes
International
0301-4215
[en] Blockchain ; Energy informatics ; Privacy-enhancing technologies ; Renewable energy sources ; Self-sovereign identities ; Systemic risks
[en] In the last decades, several developments have transformed electricity systems in Europe towards liberalized and decentralized systems that are coupled inter-sectorally and inter-regionally. These developments have yielded various significant benefits, such as increased efficiency and robustness. However, we argue that they have also caused new interdependencies and complexity with a corresponding increase in associated systemic risks, e.g., local failures may spread faster and more extensively throughout the system. In this paper, we illustrate how systemic risks may arise in European electricity systems by discussing three exemplary developments. We also discuss the decisive role of the digital transformation that, on the one hand, speeds up the transition of electricity systems and challenges electricity systems’ stability through rapid change, but on the other hand may also provide solutions to tackle systemic risks. We argue that, especially in a strongly interconnected world, policymakers must implement a global perspective on these critical and increasingly complex systems, requiring adequate cooperation with respect to data. Using an exemplary case from Germany, we finally illustrate how an intensified data exchange may help to address systemic risks. In this context, we draw a perspective on the potential of emerging digital technologies, like self-sovereign identities, blockchains, and privacy-enhancing technologies.
http://hdl.handle.net/10993/53581
10.1016/j.enpol.2022.112901
https://www.sciencedirect.com/science/article/pii/S0301421522001264
FnR ; FNR13342933 > Gilbert Fridgen > DFS > Paypal-fnr Pearl Chair In Digital Financial Services > 01/01/2020 > 31/12/2024 > 2019

File(s) associated to this reference

Fulltext file(s):

FileCommentaryVersionSizeAccess
Open access
1-s2.0-S0301421522001264-main.pdfPublisher postprint680.84 kBView/Open

Bookmark and Share SFX Query

All documents in ORBilu are protected by a user license.