Window of opportunity for sustainable energy

Abstract

The article considers the ways of increasing the sustainability of the energy sector in an unstable environment and technology modernization that implies radical structural transformations in the configuration of energy systems. The authors show that power engineering should be given a special emphasis in this context because it is the most stable branch of the energy sector in terms of its vulnerability to crisis. The article suggests that the processes of electrification that further technological progress and increase the innovative potential of a region's economy should be viewed as a driver forging a 'smart partnership' of power engineering and manufacturing. The authors analyze positive effects and price risks that emerge in the course of the implementation of electrification programs and use the analysis as a basis for their recommendations for developing regional electric power systems and effective relationships between utilities and consumers.