Can Decentralized Energy Prevent The Next Crisis?
After International Energy Agency executive director Fatih Birol labeled the ongoing global energy turmoil the “biggest energy security threat in history” in April, events over the summer vindicated his warning. The United States authorized the grid operator Southwest Power Pool, Inc. to use backup generation resources in 17 states it serves amid growing demand and extreme heat in late July, while droughts forced European nuclear plants to reduce or halt operations in August. EU gas stocks reached a record low during the last week of August, and Bangladesh further tightened restrictions on business operating hours as its gas shortage worsened.