EMEA Utilities Industry Quarterly Update: April-June 2023
This IDC Market Perspective provides an overview of the utilities industry in 2Q23, covering M&As, agreements, reorganizations, and major business developments; new financing deals; major renewables infrastructure projects; major green hydrogen projects; smart metering and smart grid initiatives; microgrid agreements; energy-efficiency initiatives; major flexibility, EV, and battery energy storage projects; IT ecosystem major acquisitions and agreements; major IT and OT contract wins; IT product announcements; utilities; and GenAI."Unpredictability has become the name of the game among utilities, and the events of the past two years have been game-changers. While more immediate matters such as supply security, demand efficiency, and tariff impacts on energy consumers are drawing attention from long-term initiatives, contingent factors such as extreme drought and catastrophic weather events are vivid reminders that climate is a non-linear process that must be addressed with extreme urgency. Utilities will continue to prioritize their net-zero journeys and sustainability efforts, with affordability being of paramount importance," said Gaia Gallotti, associate research director, IDC Energy Insights.
Please Note: Extended description available upon request.
Executive Snapshot
New Market Developments and Dynamics
Situation Overview
Business Environment, 2Q23
Demand and Prices
Oil Prices
Electricity Prices
Clean Energy and Sustainability
Smart Metering
Hydrogen
Indicators of Renewable Performances on Financial Markets
Listed Utilities Performance
Utilities and GenAI
M&As, Agreements, Reorganizations, and Major Business Developments, 2Q23
Ardian Signs Agreement to Sell ASR Wind to Naturgy
Iberdrola, Spirax-Sarco Invest in Norway's Kyoto Group
Northern Ireland's NIE Invests $3.7 Billion in Network Resilience
EDP Investment Brings Mixergy to Portugal
New Financing Deals, 2Q23
World Bank Finances Europe-Tunisia Undersea Cables to Connect Grids
EXIM Approves $900 Million Loan for Angola's Solar Power Projects
Ofgem Funds Eight National Grid-Led Energy Innovation Projects
UK Infrastructure Bank Marks First Energy Storage Investment
Delhi Distribution Upgrade Delivers Smart Meters, BESS Pilot
USTDA Grants Funding to Bangladesh for Smart Grids
SEQUINS Project to Coordinate Smart Grid in the U.S. Pacific Northwest
Hydro-Powered Smart Water Meter to be Developed in the U.K.
Major Renewables Infrastructure Projects, 2Q23
SSEN Transmission to Invest $13 Billion in Scottish Electric Networks
Egypt, UAE Sign Agreement to Build $10 Billion Wind Farm in Egypt
PGE, Orsted Award Subsea Infrastructure Project for Baltica 2 Wind Farm
U.K.'s First Transmission-Connected Solar Farm Goes Live
500MW Gulf of Suez 2 Wind Farm Being Developed by Consortium
Cape Town to Commission $66 Million Solar Power Plant
Savannah Energy Inks 200MW Solar Development Deal in Niger
Kenya, Djibouti Sign Geothermal MOU
Major Green Hydrogen Projects, 2Q23
Sinopec's First Green Hydrogen Plant Starts Production in Xinjiang
Agreement for Green Hydrogen Geothermal Project Signed in Dominica
20MW Green Hydrogen Project in the Netherlands
Smart Meter and Smart Grid Initiatives, 2Q23
PVVNL Chooses IntelliSmart to Install 6.7 Million Smart Meters in India
Airtel, Secure Meters to Deploy 1.3 Million NB-IoT Smart Meters in India
Tauron Invests in 600,000 Smart Meters, Grid Modernization