WEBVTT

NOTE duration:"00:02:00.0850000"

NOTE recognizability:0.891

NOTE language:en-us

NOTE Confidence: 0.8911564

d97e803e-0aca-4867-af59-52b4b9b5d4f9
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The electricity sector is

NOTE Confidence: 0.8911564

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00:00:01.640 --> 00:00:03.280
 at an inflection point.

NOTE Confidence: 0.8911564

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And the challenges ahead have created 

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an unprecedented investment opportunity.

NOTE Confidence: 0.8911564

fd3abbce-8321-45b0-814c-c9058ecc4b12
00:00:06.790 --> 00:00:09.394
Global demand on the electric grid is

NOTE Confidence: 0.8911564

a15fd814-ff6e-46d1-a0de-c8427bdcc540
00:00:09.394 --> 00:00:11.882
primed to outpace demand for all other types of energy 

NOTE Confidence: 0.8911564

74ce4ad1-039a-454e-8a8e-e09e42429cb1
00:00:11.882 --> 00:00:14.509
in the next 25 years. And that demand

NOTE Confidence: 0.8911564

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00:00:14.510 --> 00:00:16.265
isn't for traditional electricity– 

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00:00:16.265 --> 00:00:16.967
It's for smart,

NOTE Confidence: 0.8911564

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00:00:16.970 --> 00:00:18.020
sustainable, 

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cf47956c-c81d-42e6-b9ed-3317360126a6
00:00:18.020 --> 00:00:19.420
climate-proof electricity.

NOTE Confidence: 0.8911564

4a983585-daad-4b9d-a0e3-d147be2e2b76
00:00:19.420 --> 00:00:21.295
Today's aging grid needs

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3ff7ce92-50c8-4b04-a343-9875ff132a1c
00:00:21.295 --> 00:00:22.795
strategic
investment and careful stewardship 

NOTE Confidence: 0.8911564

1c95fe28-6a1d-4708-bca2-66c0f3a8df31
00:00:22.795 --> 00:00:24.814
in order to modernize and meet

NOTE Confidence: 0.8911564

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00:00:24.814 --> 00:00:26.086
the challenges of tomorrow.

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a1641d7c-b9e4-4048-9453-0e72cbd193ae
00:00:26.090 --> 00:00:28.610
 But what will it really take to ‘modernize’ 

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00:00:28.610 --> 00:00:30.410
the grid?

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00:00:30.410 --> 00:00:31.830
It
takes climate-proofing.

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00:00:31.830 --> 00:00:33.960
Tomorrow’s
grid will need to withstand more frequent 

NOTE Confidence: 0.8911564

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00:00:34.014 --> 00:00:35.659
and
extreme weather events, 

NOTE Confidence: 0.8911564

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00:00:35.659 --> 00:00:37.304
from
storm surges to severe snowfall,

NOTE Confidence: 0.8911564

f94560a4-f9d9-44a2-ba22-835abdd3c0dd
00:00:37.310 --> 00:00:39.272
all while accounting for the upward

NOTE Confidence: 0.8911564

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00:00:39.272 --> 00:00:41.800
pressure on demand that such weather creates.

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9ac56716-7d48-41d9-8ff0-eb96f31f949d
00:00:41.800 --> 00:00:44.089
 We need to make the grid smarter,

NOTE Confidence: 0.8911564

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00:00:44.089 --> 00:00:45.590
by deploying smart meters,

NOTE Confidence: 0.8911564

941bb978-8fde-4f7d-aa29-cb2ec68e74f3
00:00:45.590 --> 00:00:47.250
enabling
two-way communication between

NOTE Confidence: 0.8911564

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00:00:47.250 --> 00:00:48.910
operators
and customers,

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00:00:48.962 --> 00:00:50.767
 to help optimize both supply 

NOTE Confidence: 0.8911564

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00:00:50.770 --> 00:00:52.870
and consumption.

NOTE Confidence: 0.8911564

59a4709c-6943-4203-9a9a-56142487b674
00:00:52.870 --> 00:00:54.897
 We need to account for the rise of the ‘Prosumer’.

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00:00:54.897 --> 00:00:57.009
Consumers who are active players in the grid, 

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00:00:57.009 --> 00:00:58.957
using
real-time pricing to optimize their use, 

NOTE Confidence: 0.8911564

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00:00:58.957 --> 00:01:00.872
 or even generating additional power

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00:01:00.880 --> 00:01:01.972
themselves. 

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00:01:01.972 --> 00:01:02.700
And finally?  

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00:01:02.700 --> 00:01:04.968
All
of the above needs to be renewable,

NOTE Confidence: 0.8911564

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00:01:04.968 --> 00:01:06.700
 to slash emissions. 

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00:01:06.700 --> 00:01:09.220
Almost
two-thirds of the world’s electricity 

NOTE Confidence: 0.8911564

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00:01:09.220 --> 00:01:11.070
is
currently generated using fossil fuels. 

NOTE Confidence: 0.8911564

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00:01:11.070 --> 00:01:13.919
And
the IEA has stated that emissions from 

NOTE Confidence: 0.8911564

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00:01:13.919 --> 00:01:16.003
electricity will need to fall by 55% 

NOTE Confidence: 0.8911564

efd57891-088d-42a4-bfd1-b0daf37360b0
00:01:16.003 --> 00:01:18.720
this
decade in order to hit 

NOTE Confidence: 0.8911564

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00:01:18.720 --> 00:01:20.172
net-zero
by 2050.

NOTE Confidence: 0.8911564

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00:01:20.172 --> 00:01:21.624
These
changes aren’t optional–

NOTE Confidence: 0.8911564

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00:01:21.630 --> 00:01:23.450
they’re a requirement of doing business 

NOTE Confidence: 0.8911564

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00:01:23.450 --> 00:01:25.270
in tomorrow’s global reality. 

NOTE Confidence: 0.8911564

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00:01:25.324 --> 00:01:27.089
And
modernization won’t be cheap–

NOTE Confidence: 0.8911564

29d74f0a-41f1-42ad-9bfb-ae65d200f039
00:01:27.090 --> 00:01:28.900
that’s
why electricity investment will 

NOTE Confidence: 0.8911564

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00:01:28.900 --> 00:01:31.529
need
to at least triple from current levels. 

NOTE Confidence: 0.8911564

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00:01:31.530 --> 00:01:31.888


NOTE Confidence: 0.8911564

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But
that investment is primed for

NOTE Confidence: 0.8911564

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00:01:33.678 --> 00:01:35.110
long-term
rewards.

NOTE Confidence: 0.8911564

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00:01:35.110 --> 00:01:37.392
 OTPP has already invested in a number of 

NOTE Confidence: 0.8911564

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00:01:37.392 --> 00:01:39.161
grid modernization projects around the world, 

NOTE Confidence: 0.8911564

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00:01:39.161 --> 00:01:41.351
with even more future-proofing projects 

NOTE Confidence: 0.8911564

49072800-8b5e-402b-b9a3-93f2ec54ad20
00:01:41.351 --> 00:01:43.263
still
to come.

NOTE Confidence: 0.8911564

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00:01:43.263 --> 00:01:45.123
Because
whether it’s electric vehicles, 

NOTE Confidence: 0.8911564

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00:01:45.130 --> 00:01:45.846
Smart
heating, ventilation, 

NOTE Confidence: 0.8911564

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00:01:45.846 --> 00:01:47.278
and air-conditioning (HVAC), 

NOTE Confidence: 0.8911564

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00:01:47.280 --> 00:01:49.068
or
the very screen you’re watching this video on, 

NOTE Confidence: 0.8911564

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00:01:49.068 --> 00:01:51.195
the
electricity demands of tomorrow, 

NOTE Confidence: 0.8911564

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00:01:51.195 --> 00:01:53.370
have
already arrived.