The True Cost of Resilient and Carbon-Neutral Electricity Systems

Earlier today (5 December 2025), the United Nations Economic Commission for Europe (UNECE) held a ‘by-invitation’ only workshop in London, United Kingdom, on the Full System Cost Approach for Resilient and Carbon-Neutral Electricity Systems.

Achieving carbon neutrality by 2050 requires a transformative overhaul of global electricity systems, with deep electrification driving electricity demand to more than double its current levels. This transition will also need to   address the flexibility and resilience required in future electricity systems increasingly penetrated by intermittent renewables.

With invited contributions from the World Nuclear Association, Bloomberg NEF, Lazard, Clean Air Taskforce, The Electric Power Research Institute, International Energy Agency, Catapult Energy Systems, North America Electric Reliability, European Commission’s DGEner, HSBC, UK’s National Energy System Operator, the Green Finance Institute as well as from the International Gas Union (IGU),  the outcomes of this Workshop will inform a revised technical report on and set the foundation for future sessions and further regional collaboration on this topic.

IGU was represented by Mr Mark McCrory, Strategy and Advocacy Director, whose intervention during the “Metrics & Solution” debate sought to address several of the key questions raised, including market frameworks needed to support consistency, transparency, and a comprehensive consideration of full system costs.

In his intervention during the Workshop, Mr McCrory argued that “Gas-to-power stands out for its maturity, responsiveness and suitability for integration into existing electricity systems, and is particularly well-suited to meeting the growing challenge of intermittent renewables. However, as Gas-fired power increasingly operates in a flexible and peaking role, supportive market reforms will be needed to ensure sufficient future natural gas capacity will be available to deliver secure, resilient and affordable electricity supplies.”