The radical change in the European energy sector in recent years is simply the beginning of a sustained transformation, a Siemens boss said today.

Ralf Christian, chief executive of Siemens Energy Management Division, told the opening ceremony of European Utility Week in Vienna: “There is huge potential for further electrification.”

He said that in the near future, “demand is going to need to follow generation more and more”.

“The grid has to become more intelligent and that requires innovations such as big data and data analytics.

“Prosumers will play an increasingly important role and this will lead to a prosumer-centric energy world”, and added that this would be driven by digitalisation.”

He said “IoT applications will leverage the Internet of Energy” and highlighted the rise of technologies such as digital twins and the virtual power plant.

And highlighting the increasingly important effects of decarbonisation, digitalisation and decentralisation, Christian said that a key requirement for these so-called 3 Ds was “creating more opportunities in trading markets. If you want a demand-driven energy system, then you must provide more opportunities for participation of different stakeholders.”