The transition towards a low-carbon economy will change both the way power is produced and the way it is consumed. Smart grids are an essential element to facilitate the transformation.

Smart grids can help reduce transmission and distribution losses, optimize the use of existing infrastructure by helping to regulate power flows and meet peak demand, accommodate significant volumes of decentralized and renewable energy into the grid, and improve energy efficiency by managing the consumption patterns of new and existing users connected to the grid. Smart grids are essential for achieving energy security, affordable energy and climate change mitigation- the three elements of the “energy trilemma”.