Traditionally, electricity systems have been concerned with three core principles- to adequately meet demand, to
improve the reliability of the electricity supply, and to provide electricity service. These systems today have
evolved from these mandates. A shift in the design principles across the electricity value chain is observed, to
incorporate an expanded set of societal and ecological values. Considerations of economic development that are
mindful of climate change concerns, and carbon mitigation, have set the tone for the electricity landscape. The
electricity value chain is advancing by keeping three core values at its centre- Interconnectedness; Bidirectionality;
Data Analytics.

The electricity systems have broadly been segregated into three parts – Generation, Transmission, and Distribution. With a shift towards multidirectional value exchange where consumers have transformed into prosumers and influx of various private players in electricity generation, the presence of an astute power market becomes critical. Further, the integration of intermittent renewable energy sources, and call for energy efficiency interventions to achieve peak demand management, necessitates energy storage. Developments in digital technologies have pioneered smarter ways of grid management and have sealed their importance as a critical entity in the electricity value chain.