Energy transition is transforming the existing energy system by making it more decentralized with network connection points multiplying and energy feed-in further fragmenting and becoming variable and decarbonised. In this context, the operation, investment, business model, governance and regulation of the energy networks infrastructure are expected to evolve. The key issues for network companies (both carriers of electrons and molecules) are revenue sufficiency and long-term sustainability. For policy makers the challenge is to incentivize cost efficiency, innovation, service reliability, equitable access to network by users and an operational behaviour that is line with wider decarbonisation objectives. These however require rethinking the traditional approaches for energy networks’ regulation and their business models. (Research Leader: Rahmat Poudineh).