Electricity demand is rising once again as the world recovers from the worst economic slowdown in decades.
A return to levels of demand unseen since early 2008 spells problems for many countries that failed to make adequate preparations for the predictable follow-up to the sharpest decline in energy consumption on record.
Large swathes of the developing world and, more surprisingly, several advanced economies are suffering.
"The recession and now, hopefully, the recovery, has taught us how interlinked the world really is," Tony Hayward, the chief executive of BP, said last month, introducing the latest edition of the company's benchmark Statistical Review of World Energy.
In the developed world, many problems stem from ageing metropolitan power grids that for decades have been jerry-built to handle rising electricity demand. A recent power cut affecting several major cities in the eastern US and central Canada is the latest example.
Others power problems in advanced economies relate to uncertainties over how mandated reductions in carbon emissions will be handled.
The ISO-RTO Council, a group of US and Canadian power-grid operators that manage most of North America's bulk electric grid, is working on a plan to deal with the one million plug-in vehicles that could be deployed on the continent within 10 years.
Grid operators will need to work with new types of organisations such as car makers and retailers "with little or no experience in interfacing with the bulk power grid", the group predicted, requiring investment in "increased communications capacity". It also called for more research on the behaviour of consumers faced with higher power prices as their plug-in cars raise electricity demand.
This is an example of the emerging complexities facing electricity providers in countries with changing patterns of energy consumption.
The question of how developing nations will cope with simple increases in power demand is older but still has no easy answers. This is dramatically demonstrated in some of the wealthiest developing economies.
The reasons for a rich country to run short of power are always complex. In the case of most Gulf states, they include insufficient planning for infrastructure to support industrial development, poor communication between state-owned utilities and their customers, and generous energy subsidies. The last two have contributed to poor energy conservation.
In addition, political rivalries have impaired co-operation and led to the patchwork development of electricity infrastructure with limited power-sharing capacity.
With the financial resources of advanced economies strained while economic growth rebounds in the developing world, global power problems are likely to intensify.
Unfortunately, our world electricity survey suggests this is already happening.
tcarlisle@thenational.ae
On the menu
First course
▶ Emirati sea bass tartare Yuzu and labneh mayo, avocado, green herbs, fermented tomato water
▶ The Tale of the Oyster Oyster tartare, Bahraini gum berry pickle
Second course
▶ Local mackerel Sourdough crouton, baharat oil, red radish, zaatar mayo
▶ One Flew Over the Cuckoo’s Nest Quail, smoked freekeh, cinnamon cocoa
Third course
▶ Bahraini bouillabaisse Venus clams, local prawns, fishfarm seabream, farro
▶ Lamb 2 ways Braised lamb, crispy lamb chop, bulgur, physalis
Dessert
▶ Lumi Black lemon ice cream, pistachio, pomegranate
▶ Black chocolate bar Dark chocolate, dates, caramel, camel milk ice cream
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
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A Prayer Before Dawn
Director: Jean-Stephane Sauvaire
Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai
Three stars
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Porsche Taycan Turbo specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 1050Nm
Range: 450km
Price: Dh601,800
On sale: now
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
Killing of Qassem Suleimani
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
COMPANY PROFILE
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TO A LAND UNKNOWN
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Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.