Cleaning Up with Michael Liebreich

Euroelectric Power Summit Highlights

• Location: Lagonisi Beach Resort, Athens
• Keynote: Greek PM Kyriakos Mitsotakis and Maxim Timchenko, CEO of Ukrainian utility DTEK
  • Discussion on maintaining power in Ukraine amid destruction
• Main Themes:
  • Acceleration of transmission infrastructure
  • Digitization and AI in the energy sector
• Reports: Euroelectric released reports on these topics during the summit

Interview with Leonard Birnbaum

• Role: CEO of E.ON, President of Euroelectric
• Discussion Location: Beachside, windy, reflective of wind energy theme

E.ON’s Business Focus

• Infrastructure for electricity
• Smart energy solutions for B2C and small B2B
• Not engaged in large-scale generation
• Transformation: Split off Uniper focusing solely on infrastructure and customer solutions

Historical Transformations at E.ON

1. 2015-16 Split: Created Uniper for system-centric world
2. Nuclear Risk Management: Deal with German government regarding nuclear storage
3. RWE Transaction: Acquisition of Energy, expanding grids and renewables

Europe's Energy Transition

• Current Challenge: Infrastructure for electrification of mobility, heat, and renewables
• Emphasis on distribution grids
  • Distribution grids crucial for low to high voltage integration
  • Need to double investment in distribution grids

Euroelectric's Reports

1. Grids for Speed

• Investment need: Doubling required, from 35 billion to 67 billion euros per year
• Anticipatory investments could save costs
• Necessary regulatory changes to encourage smart grids

2. Digitization

• Every process needs digitization
• Different maturity levels across utilities
• Challenges in changing systems and training personnel

Impact of AI and Machine Learning

• AI increases electricity demand, challenges existing infrastructure
• Increasing energy efficiency in tech (NVIDIA example)
• AI is a tool to aid human decision-making

Global Energy Transition

• Decarbonization critical in India and Africa
• Leapfrogging to modern technologies essential
• E.ON’s focus remains within Europe

Europe's Challenges

• Competition with US and China
• Need for focus on opportunities, not only risks
• Importance of European integration, especially in capital markets

Political Engagement

• Encouraging voter turnout for pro-European policies
• Importance of Europe for global competitiveness

Closing Thoughts

• Europe’s energy future lies in cooperative investment and smart regulation
• Personal reflections on Europe’s place in global energy transition

Additional Resources

• Euroelectric and E.ON websites
• Conference reports and related podcasts

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Follow-up Actions:

• Review Euroelectric's reports on grid investments and digitization
• Explore implications of AI on energy demand
• Consider Europe's role and strategies in global energy markets.