Power prices to skyrocket without smart grid
By: SGN Staff
Quick Take: We've said periodically we need to talk about smart grid in ways consumers can relate to. The comments on the critical need for smart grid investment made by Global Smart Grid Federation Chairman Guido Bartels is a prime example of how to do that. - By Jesse Berst
Electricity prices in Western countries will climb 400% by 2050 if adequate investment in smart grid isn't made now. That's the assessment from Guido Bartels, chairman of the Global Smart Grid Federation and general manager of IBM's Global Energy and Utilities Industry.
Bartels delivered his remarks at the Israel Smart Grid Consortium held last month. His comments were reported by Globes, an Israeli financial newspaper. Israel is embarking on a pilot smart grid program to make power consumption more efficient and plans eventually to deploy 2.5 million smart meters to replace existing meters.