Risk Aversion Hinders UK's Energy Transition Amidst Regulatory Changes
The UK utilities sector is facing significant challenges in its energy transition due to a deeply ingrained culture of risk aversion. As the sector prepares for Ofgem's RIIO-3 price control framework, which introduces tighter performance incentives, there is a growing need for innovation to meet net-zero commitments and adapt to disruptive technologies. However, the industry's traditional focus on reliability and safety is creating barriers to experimentation and operational capability at scale. This cultural inertia, coupled with a skills gap in areas like AI and cybersecurity, is hindering the sector's ability to embrace necessary changes. 
