Smart grid abstract: “What are the benefits of smart grid?”

Industry around the world is spending large amounts of money developing the infrastructure required for smart grids. However, smart meters and other smart grid technology is a tool and needs to have a purpose. This presentation asks whether we have fully made the business case for smart grids. Having a full understanding of the benefits that we hope to achieve can help prevent "scope creep" and allow us to define and measure success. Once we understand the benefits we hope to deliver, it becomes clear that infrastructure is only a first step. To realise the benefits of smart grid we need a radical overhaul of the sector to create an enabling framework. Markets and regulation may be restrictive. We need to incentivise utilities, generators, consumers and new entrants to develop new and innovative ideas.