By reducing demand, energy efficiency allows us to run power plants less frequently and burn less fuel. In the view of Dr. Ralph Izzo, energy efficiency offers all the clean air benefits of renewables, but at a fraction of the cost. Dr. Izzo will discuss (1) his conclusion that, while renewables are critical to achieving long-term decarbonization goals, energy efficiency should be our immediate priority, and (2) ways to incentivize utilities to care more about energy efficiency. Dr. Peter Fox-Penner will present on the most important trends expected in electric utilities over the next 20 years. Both will then have a conversation on the future of utilities, moderated by a leader of the MIT Energy Initiative.