EFI’s Ernest Moniz and Melanie Kenderdine Speak at Siemens Energy’s North America Energy Week
On September 15th and 16th, EFI CEO and 13th U.S. Secretary of Energy Ernest Moniz and EFI Principal Melanie Kenderdine spoke at Siemens Energy’s first North America Energy Week. The event convened leading experts from government, energy producers, and original equipment manufacturers (OEMs) to discuss the transforming energy industry and North America’s future in this space.
The week kicked off with a fireside chat between Moniz and Christian Bruch, President and CEO of Siemens Energy. The two discussed energy access, innovation, global supply chains, and the importance of decarbonization across multiple sectors. Moniz emphasized a system view that incorporates seasonality and the importance of innovation to affordable energy storage.
An absolutely critical question is how to shape government policy and regulation in ways that unleash a whole new level of private capital in the energy transition.
— Ernest Moniz
Moniz also discussed the importance of the private sector’s role in decarbonization. “An absolutely critical question,” Moniz said, is “how to shape government policy and regulation in ways that unleash a whole new level of private capital in the energy transition.” Large pools of capital measured in the trillions of dollars do want to move in this direction, he believes. However, policy structures do not reflect the different risk-reward structures and fiduciary responsibilities of these pools, such as that of a private equity fund versus a pension fund.
Day two of the Energy Week featured EFI Principal Melanie Kenderdine in a panel discussion on cybersecurity. Kenderdine discussed why security may be the most important challenge currently facing energy companies with Adrienne Lotto, Vice President and Chief Risk and Resilience Officer at the New York Power Authority, and Randy Bell, Director of the Atlantic Council’s Global Energy Center. The discussion was moderated by Leo Simonovich, Vice President and Global Head of Industrial Cyber and Digital Security at Siemens Energy.
Calling cybersecurity the new energy future’s “glaring Achilles heel,” Simonovich introduced the challenges facing the energy industry. We need to be very thoughtful about the mantra, “electrify everything” because of the cybersecurity concerns associated with the electricity sector, Kenderdine warned. However, it is not too late to tackle this issue, she said, emphasizing that responses to threats require constant updating.
A recording of the full program can be viewed here.