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Good regulatory practices for better smart grid deployment

Economies with a desire to fully deploy smart grid technologies need to make better use of international standards and not create unnecessary technical barriers to trade, said experts.

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The estimated median cost of cyber crime for an organization—including loss of property, loss of productivity, and cost to remediate—rose from US$3.8 million in 2010 to US$5.9 million in 2011

Economies with a desire to fully deploy smart grid technologies need to make better use of international standards and not create unnecessary technical barriers to trade, said experts.

At an APEC workshop on regulatory approaches to smart grid investment and deployment, regulators from the region sought to better coordinate across their agencies to facilitate the trade and investment of smart grid technology. The event took place alongside the 5th World Forum on Energy Regulation in Quebec City, Canada.

APEC recognizes smart grid deployment as a means to address climate change, improve energy efficiency and promote green growth. Chair of the Korean Electricity Regulatory Commission, Professor Ja-Yoon Koo, said that smart grids are key to enabling the greater use and integration of renewable energy sources in businesses and homes.

“For smart grids to truly take off, we have to consider developing and adopting common interoperability standards across the APEC region,” Prof. Koo told participants at the workshop.

“Adhering to such standards can significantly contribute to the trade and investment in smart grid technologies,” he added. “This will in turn create new business opportunities and greatly benefit consumers, as well as the environment.”

via Good regulatory practices for better smart grid deployment – Asia-Pacific Economic Cooperation.

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