Remizova T.S.Financial Research Institute of Ministry of Finance of Russian Federation (FRI), Moscow, Russian Federation tttatia@yandex.ru ORCID id: not available
Subject. A growth in decentralized power engineering and renewable sources of energy, the changing consumption model and the transition to active power consumption are key drivers of the power engineering sector worldwide and in Russia. Digital technologies underlie the transformations in the industry. Objectives. We determine the way the power engineering sector mainly transforms worldwide and in Russia, and what can be done to make the transformation process smooth. Methods. The study employs methods of summarizing normative, empirical and theoretical data. In November 2019, we surveyed representatives of the power engineering sector so as to find the conceptual meaning of Digitalization and view the main lines of digital transformation in the industry. Results. The article proves a range of definitions Digitalization and, inter alia, the concept of digitalization in power engineering. We also pinpoint the course of digital transformation, such as a spread of renewable energy sources, distributed generation, digital services, the modification of the consumption model per se with a keel towards active consumers, transport electrification as an attempt to lower the carbon footprint. The article indicates possible effects and beneficiaries of digital technologies from perspectives of companies, the industry and the country. Conclusions and Relevance. The digitalization of the power engineering sector induces more complicated power systems, helps manage them and contributed to the adoption of new technology. It also reduces the dependence on conventional sources of energy, ensuring the reliability of power engineering, energy saving, lower costs and use of renewable energy sources, lower carbon emissions and environmental protection. Challenges brought by the 2020 pandemic urge to advance and use digital technologies in the industry.
Keywords: digitalization, digital technology, digital transformation, power engineering, decentralization
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