The era of smart grids is set to deliver real improvements on many fronts. A range of technological innovations are expected to make possible a step change in grid efficiency, enable the integrated use of distributed and renewable generation, promote interaction between supply and demand technologies, between the consumer and the utility. This future comes at a cost and with immense challenges along the way. It requires substantial capital investment. Companies face tough dilemmas on the timing of investment, choice of technology partners, how to maximise the cost-benefit to their company as well as the wider grid and society and, last but not least, the key challenge of delivering the necessary upgrades efficiently and on time.

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