Fundamentally Speaking

Fundamentally Speaking May 2024

Let us start this edition by reiterating why Fundamentals is in business – and why we are interested in the topics covered here.

Fundamentals delivers products and services which help network operators control voltages on the grid.

Ours are among the key technologies which make it possible to transform the electricity system from the old, centralised model, to one which must increasingly embrace all sorts of renewable resources, while keeping supply and demand in balance, and voltages under control.

Smart meters have enormous potential for helping to achieve these objectives. But our thought piece in this issue argues that the UK smart meter project was fundamentally flawed from its inception 20 years ago. And we have a proposal to fix that.

We believe customers should be empowered to interact directly with the data from smart meters, so they can manage their own energy far more proactively – because data is most valuable for balancing networks when it used at or near the point where it is produced i.e. both at household and house-to-substation levels. We very much welcome our readers' thoughts on this.

Congratulations to Justin Tomlinson on his promotion to Minister for Energy Security and Net Zero. He is MP for Swindon South, the town in which we are based, so he has our special best wishes for addressing the challenges ahead.

The article below summarises some of the issues facing him at his first ministerial questions on April 16, just 48 hours after taking office. The bottom line is that he must deal with numerous warring factions, variously claiming that the UK's transition away from carbon is happening too quickly, too slowly and/or in the wrong ways.

Developments in Australia and Malaysia are of particular interest to us, as their energy transition programmes open up new markets for Fundamentals technologies. We also believe they embody some key innovations for the UK and others to follow.

We are particularly impressed by Australia's 'whole energy system' approach to transitioning from coal to renewables, based on the belief that green electricity will be cheaper for consumers in the long run, as well as an environmental imperative.

Meanwhile Malaysia looks set to be the driving force for new ways to transmit and trade renewable power between ASEAN states (Association of South East Asian Nations), with economic and environmental benefits all round.

We would love to hear your thoughts on the challenges and opportunities facing the electricity industry. To discuss this, or anything you have read in this edition, simply email us or call us on +44(0)1793 847163.