Govt-industry teamwork needed to solve ‘energy trilemma’

With growing energy demand in Asia and coming challenges in the global market, industry and governments need to work together to find solutions to tackle the “energy trilemma” of energy equity, energy security, and environmental sustainability, said panelists at the World Energy Congress in Daegu on Wednesday.

By (Wam)

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Published: Thu 17 Oct 2013, 9:41 PM

Last updated: Sat 4 Apr 2015, 10:58 AM

“There is a lot of common ground between industry and government,” said Jon Drzik, chief executive officer of international management consulting firm Oliver Wyman. “Solving the energy trilemma requires a sustainable policy that endures over time, requiring a partnership between industry and government.”

Experts suggested how to approach the trilemma, and where the main challenges will come from in the coming decades. “Energy efficiency is at the heart of any solution for Europe and for our energy trilemma,” said Maria Van der Hoeven, executive director of the International Energy Agency.

Experts said that integration could help tackle the energy trilemma, bringing about greater energy security and efficiency.

“If you want to change your energy mix, you have to be mindful of the consequences of the region,” Van der Hoeven said, offering the example of Germany. “You can’t do things alone.”

Luis Enrique Berrizbeitia, executive vice-president of the Development Bank of Latin America, similarly suggested an integrated outlook, drawing on the experience of Latin America. “There are plenty of opportunities to satisfy security needs, especially if we advance on the integration front,” he said. “Integration can bring combined resources of region in an efficient manner.”

He pointed out that the region already has a clean energy matrix drawing on hydropower, with the growing participation of wind and solar, and the region is endowed with resources.

Different regions and nations will face unique challenges in the coming years that will all contribute to the global picture.

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