Digitalization of the power business: How to make this work?

Open Access. Link to publishers version: https://www.taylorfrancis.com/books/e/9781351174657/chapters/10.1201%2F9781351174664-316As a result of the digitalization of the power business in Norway and Europa, a lot of new possibilities and challenges arise. In 2014 an expert committee one outlined a proposal for the future grid company structure in Norway (Reiten, 2014). In addition, new technologies are being implemented in the system. Wind power, solar power, un-regulated small hydro power production, battery storage domestic and industrial and electrification of transport. Transmission System Operators (TSOs) have a responsibility to supply industry and communities with reliable electric power. However, the operators have been virtually blind to slowly occurring changes in the load profile that reduce the expected regularity of the power supply. This paper will focus on the possibilities and challenges the power business are facing. The paper will describe what technologies is needed i.e Real time probabilistic risk calculations, artificial intelligence, machine learning and smart grid technology. The main question is: can the power business and the introduction of new system tools manage without probabilistic risk calculation for making use of the digitalization and the corresponding big data