On the horns of a trilemma

For close to two years now, energy sector commentators have spoken of a ‘trilemma’: a struggle to balance the three competing imperatives of energy transition, security, and affordability. Of these three, energy transition arguably looms largest. For John Dewar, project, energy and infrastructure finance partner at Milbank and Legal 500 Hall of Famer for power: ‘The push to the energy transition has been the most disruptive change in the energy market in decades.’