IMechE -Energy Security - The True Cost of Energy?

26th September 2022 12:00 pm

Global energy supply is undergoing the most significant change since the commercialisation of hydrocarbons, and a series of events are planned by the Process Industries Division of the IMechE to help our membership navigate through this complex transition, taking in to account the continued use of hydrocarbons for security of supply, low carbon energy sources and an understanding of the financial and environmental costs involved.

The most recent fuel and cost of living increases have focused everyone’s mind on energy costs, but do we have the right information to make a logical decision on the correct source of energy for any specific need?

What do we mean by cost? Do we mean financial or environmental cost? Can we take both of these into account when ensuring energy security?

What is the most efficient way of harnessing energy for our needs? How much is lost in energy conversion and transmission?

Do we know the form and the source of energy and do we know the ‘energy pathway’ and efficiency losses it has taken?

Do we know the effects of legislation, carbon credits and levies on the costs?

It is clear that without a logical approach to the most complex issue of our time, wrong decisions could be made, In terms of finance and / or the environment and / or energy security.

This presentation will not attempt to solve these issues, as the correct answer is always very specific to the location, available energy sources, and environmental factors etc.

On the other hand the event will attempt to clarify a number of factors that should be considered when looking at energy cost, and provide the attendees with the correct questions to ask.

The presentation will be followed by a panel discussion where there will be an opportunity for questions to be taken from the audience

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