Exclusive extracts from this 67-page-long report:
- Who are the key players?
The European energy sector is dominated by large, transnational players such as EDF, Engie, Enel, RWE and E.ON, who are active throughout the entire energy value chain both within and outside Europe. These companies have traditionally competed mainly with regional players, such as Gas Natural Fenosa, SSE and Vattenfall, and, to a lesser extent, with smaller national or even municipal players. [...]
Groups analysed in this report include: EDF, Enel, Engie, RWE, E.ON, SSE, Iberdrola, Gas Natural Fenosa, EDP and Vattenfall.
- What are the players' strategies?
Recent years' energy market fluctuations and a structural shift towards renewable energies have pushed energy companies to restructure their asset portfolios to strengthen their financial performance and adapt their business models. France's EDF for instance is pursuing a €10bn asset disposal programme over the 2015-2020 period, while simultaneously raising investments in low-carbon energy sources (mostly nuclear). Likewise, Engie has been accelerating its international expansion, mostly through acquisitions, to tap fast-rising demand for clean energy in emerging markets. Meanwhile, Italy's Enel in 2017 established E-Solutions, a dedicated business entity that will drive its digital strategy by overseeing the expansion of smart home solutions, fiber optic, lighting and security solutions, as well as recharging infrastructure for electric vehicles. […]
- What are the players' key growth and profitability drivers?
RWE continues to feel the brunt of Germany's decision to completely halt nuclear power generation by 2022, while other German energy companies were also hit by the country's ambitious transition towards renewables and recent price falls. At the other end of the spectrum, Sweden's Vattenfall saw profitability improve markedly thanks to higher earnings in wind and distribution operations. [...]