An ”intelligent electricity network” brings all players in the electricity market together into a comprehensive system optimized for all market participants through coordinated interaction of generation, storage, grid management and consumption. Smart Grid technologies form the basis for the increased integration of decentralized electricity generation, in particular from renewable energy sources. They help to provide security of supply as well as flexibility of generation and consumption. Together with European partners Austrian researchers are developing pioneering strategies with the aim of creating a sustainable energy system supported by smart technologies.