Smart power grids - a perfect solution, or just a fashion?

The increase in electric power demand is now at the 2-3% per year level, and in some regions of the world may become much higher. At the same time, the infrastructure of power systems is developing much more slowly. Smart grid technology uses modern telecommunications and informatics to bridge the gap. The aim is to integrate generation, transmission, distribution and consumption of the electrical energy to supply the power in a reliable, safe, economic way with consideration of the environmental requirements. The technology consists of four main parts: (1) management of demand; (2) operational control of generation, transmission and distribution; (3) new-generation (adaptive and wide-area) protective devices; and (4) self-healing and fast restoration after system breakdowns.