Phil Hirschhorn is a Managing Director and Senior Partner based in BCG’s Sydney office. Phil was named a BHI Fellow in 2020, and has focused his research on the Future of Energy Markets.
Over the next three decades, a massive increase in the deployment of variable renewable energy (VRE) will be required to meet our global decarbonisation ambitions. Phil’s research explores the profound changes to our electricity and broader energy systems, markets and technologies impled by that shift. His work uncovers the implications for energy markets (Will electricity be free? Not when you really need it?); energy intensive companies (Why your company needs to be an energy trader); and governments. Much of his work distils the lessons from markets which are at the forefront of adopting VRE, such as Australia, and what other countries can learn from that experience.
Phil speaks regularly on these topics at industry conferences including the Energy Networks Association, Australian Gas and Pipeline Association and the Energy Transition Forum. He has advised the boards and executives of a number of leading energy companies and regulatory bodies on the energy transition.
Phil maintains two series of articles capturing different aspects of the energy transition: Why your company needs to be an energy trader covering the direct work of the Fellowship and The bionic energy network which covers the digital transformation that energy utilities will need to undertake in parallel.
Outside of work, Phil enjoys travelling with his family and maintains an ageing and slowing presence in his community football team.
As electricity markets become more volatile, the value of using energy flexibly is increasing. Companies can take four practical actions to create advantage.
By causing gas plants to close, renewable energy could disrupt the pricing of electricity, impairing investment signals. What comes next will depend on which of three technologies emerges to support the rise of renewables.
As governments decarbonize their economies through renewable energy generation, volatility in electricity prices will surge. Players can use multiple levers to mitigate it—but they must act carefully to avoid damaging industrial competitiveness and increasing costs.
This week, Twitter cofounder Jack Dorsey and Tesla CEO Elon Musk tweeted criticisms of Web3, the supposed “next evolution” of the internet that’s got (almost) everyone excited.
Variable renewable energy generation will transform electricity systems and increase price volatility. To navigate these changes, companies need to be more flexible in the way they consume electricity.
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