Journal
ENERGY POLICY
Volume 92, Issue -, Pages 286-298Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.enpol.2016.02.019
Keywords
Local electricity supply; Business models; System Regulation; Market innovation
Funding
- RCUK grant centres with equal weight
- Economic and Social Sciences Research Council (ESRC) [EP/K012398/1]
- EPSRC 'Realising Transition Pathways Whole Systems Analysis for a UK More Electric Low Carbon Energy Future' project [EP/K005316/1]
- Engineering and Physical Sciences Research Council [EP/K005316/1, EP/K012398/1] Funding Source: researchfish
- EPSRC [EP/K012398/1, EP/K005316/1] Funding Source: UKRI
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This research investigates the new opportunities that business model innovations are creating in electricity supply markets at the sub-national scale. These local supply business models can offer significant benefits to the electricity system, but also generate economic, social, and environmental values that are not well accounted for in current policy or regulation. This paper uses the UK electricity supply market to investigate new business models which rely on more complex value propositions than the incumbent utility model. Nine archetypal local supply business models are identified and their value propositions, value capture methods, and barriers to market entry are analysed. This analysis defines 'complex value' as a key concept in understanding business model innovation in the energy sector. The process of complex value identification poses a challenge to energy researchers, commercial firms and policy makers in liberalised markets; to investigate the opportunities for system efficiency and diverse outcomes that new supplier business models can offer to the electricity system. (C) 2016 The Authors. Published by Elsevier Ltd.
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