IT WAS Intel founder Gordon E. Moore who observed in 1965 that there was a doubling in the power of computer chips every two years.

Moore predicted this trend would persist for another 10 years and his prognostications have proven eerily correct.

Even extrapolating Moore’s Law, as it became known, beyond the realms of semiconductors into digital technology and elsewhere, technology tends to double in power every couple of years.

And as the performance increases, the price drops in sync.

It is to this phenomenon that electricity consumers can pin their hopes in coming years as they grapple with rising power bills. The technology to deliver cheaper energy is here.