Our economy, and in particular the energy economy is evolving fast. The day of the large international energy provider capturing and exporting local value is coming to an end, in future energy 'systems' are local, with the value of energy consumption created and retained locally through the use of emerging technologies and open markets with energy delivered to users through new consumer offering and business models, empowering all participants in the energy economy to get their fair share of the value creation.

REWIRE-NW takes a revolutionary mission-oriented approach to the Smart Local Energy System (SLES) proposition through its combination of the SLES framework and its focus on community and local benefit and value retention, its core objective being the creation of an energy system that is not only optimised and balanced at the local level in energy terms, but also in terms of welfare and benefit of all of its stakeholders.

Through the SLES framework REWIRE-NW will propose new market arrangements that pave the way for change. New structures and procedures in the form of the intelligent 5G enhanced Mission-Oriented Local Energy Market (MOEM) and data-centric Intelligent Local Energy Architect (ILEA) operated under a new entity, the Smart Local Energy Company (SLEC) will drive the system towards a lower cost and lower carbon outcome. The definition of these new entities will be established, but their objective will be locally focussed and impact driven from the start.

Change will require an evolution in regulation and a revolution in approaches to finance and ownership. Local is at the heart of REWIRE-NW and the benefits of an increased role for the public and community sector alongside commercial ownership will be realised. REWIRE-NW sees this future as a key opportunity to redefine the role of community in energy and design a system that priorities local social and economic objectives. If value is created locally it should be distributed locally.