Globalization of the Electricity Industry

globalization of the electricity market

Globalization is driving change across the energy industry. With the advent of Liquefied Natural Gas and High-Voltage Direct Current, it is easier than ever to transport power for sale in international markets. But globalization is enabling more than just the distribution of raw power and resources, it is also facilitating the centralization of logistics expertise and parts management for servicing utilities and power producers around the world.

Global energy production and consumption has increased dramatically over the last decade, led in large part by the growth in economic activity in Asia. China and India have been at the forefront of this movement, with China predominantly investing in coal-fired capacity for their generation needs. In a turnaround driven by deteriorating air quality levels in Beijing the world’s second biggest economy has announced a $375 billion plan to drive energy-saving and emission-reduction measures. Meanwhile, India’s nuclear deal with the US in 2005 paved the way for the expansion of their nuclear power generation capacity, assisted with an exchange of nuclear know-how.

Russia meanwhile has overtaken Germany’s GDP based on purchasing power parity in a report released by the World Bank, to become the world’s fifth largest economy, and the largest economy in Europe, predominantly as a result of its vast trove of energy reserves. Russian gas now warms most of Europe, with pipelines extending from the Caspian Sea through Eastern Europe and onto energy-hungry markets in Germany, France and even as far as the UK.

In Canada, Alberta continues to grow into a global energy powerhouse, with exports to the United States and Asia fueling a boom in the resource market. Planned pipelines to take advantage of additional refining capacity in the US and export markets to the west via British Columbia will continue to drive growth in supply from the Alberta oilsands. Major shifts are also occurring within the renewables sector, with companies such as Solar City in the US increasing the volume of photovolactic-based electricity feeding into the grid and countries such as Scotland taking advantage of its offshore wind to supply industry and homes with clean energy.

All of this expansion and diversification within the energy sector has driven demand for equipment and parts that facilitate the transmission of electricity from generation facilities to the end user. Rather than attempt to research and develop an acceptable level of knowledge of the myriad suppliers and components available, energy producer and suppliers can fall back on the expertise of a turnkey distributor that has developed extensive relationships with manufacturers and has a deep appreciation of the needs of their customers and the range of options available.

Domino Highvoltage brings expert knowledge of the turnkey distribution industry, coupled with established relationships with suppliers in the field to each of their customers. With a distribution network that will get the components you need to the site where they are required, Domino can be relied upon to service all of your equipment needs, including exports. To find out how Domino can help your company respond rapidly to new challenges and changing market conditions call 1-866-887-8617 to discuss your needs with one of our representatives.

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