EMEA Utilities Industry Quarterly Update: July–September 2023

Executive Snapshot

• Figure: Executive Snapshot: Utilities Industry Quarterly Update, July–September 2023

New Market Developments and Dynamics

• Situation Overview

• Clean Energy and Sustainability

• Hydrogen

• Smart Metering

• Business Environment, 3Q23

• Demand and Prices

• Oil Prices

• Figure: Brent Oil Price and WTI Crude Oil Price Trends 12-Month Hindsight, October 2022–September 2023

• Electricity Prices

• Figure: Electricity Prices in Major European Power Exchanges, October 2022–September 2023

• Figure: U.S. Average Actual Residential Electricity Prices, October 2022–September 2023

• Indicators of Renewable Performances on Financial Markets

• Figure: NASDAQ Clean Edge Green Energy Total Return, October 2022–September 2023

• Listed Utilities Performance

• Figure: Dow Jones Indexes, October 2022-September 2023

• Utilities and GenAI

• M&As, Agreements, Reorganizations, and Major Business Developments, 3Q23

• Greek TSO Acquires 25% Share in EuroAsia Interconnector

• Shell to Sell Home Energy Business in the U.K. and Germany to Octopus Energy

• Enel Signs Agreement to Supply Eaton Facility with Texas Wind Energy

• Germany Forms Second Energy Efficiency Network for Network Operators

• Global Energy Companies Launch Interoperability Alliance

• New York Greenlights Con Edison's $11.8B Clean Energy Investment Plan

• New York Creates Battery Storage Fire Safety Working Group

• New York Announces $11M in Funding to Address Grid Challenges

• UK Power Networks, Octopus Energy in Program to "Turn Up" Demand

• New Financing Deals, 3Q23

• EIB Increases REPowerEU Support to $50.2B

• IFC Invests Record $11.5B for Africa's Green Transition

• EIB Invests $42M in Climate Infrastructure Through Acre

• AfDB, AMEA Power, IFC, SEFA Launch Privately Financed Solar Project

• New ARENA Funding Announced for Renewable Energy in First Nations Communities

• Enel X Awarded Grant to Unlock Flexible Demand in the Commercial Refrigeration Sector

• Major Renewables Infrastructure Projects, 3Q23

• Egypt Signs Deal for 3GW Wind Farm Project in West Sohag

• RWE, Stanwell Sign MOU for Two Renewable Energy Projects in Australia

• bp Begins Construction on New Texas Solar Project

• New Solar Plant to Power the European Operations of adidas

• 50Hertz, ENERTRAG Test Reactive Renewable Power for the Grid

• DTE Energy Utility Accelerates Its Transition to Renewables

• Major Green Hydrogen Projects, 3Q23

• SGN Approves 100%-Hydrogen Pipeline Testing in Scotland

• Cleanergy Solutions Namibia Begins Work on Green Hydrogen Refueling Station

• Dubai-Based AMEA Power Plans to Build Green Hydrogen Plant in Kenya

• Smart Meter and Smart Grid Initiatives, 3Q23

• JEPCO Selects Itron for 1.5M Meter Rollout

• ESB Networks Implements 1.3M Smart Meters in Ireland

• PSE&G Hits Key Milestone, Installing 1M Smart Meters

• Vodafone, DCC to Upgrade Britain's Smart Meter System

• Hong Kong's CLP Power Reaches 2M Smart Meters Milestone

• India Marks 3.6M Smart Meters Milestone

• Indian GSEDPL to Install 7.6M Prepaid Smart Meters

• CSPDCL Selects Tata Power for 1.9M Smart Meters in India

• Honduras Issues Smart Grid Call as Part of Loss Reduction Push

• Indian West Bengal Company Gets 200,000 Smart Meters

• Israel Electric Corporation Taps Landis+Gyr for Nationwide Smart Meter Rollout

• Finland's Elenia to Install Next-Generation Smart Meters

• Xcel Energy to Install 260,000 Smart Meters in Wisconsin

• Sindcon to Retrofit 50,000 Smart Meters in Indonesia

• Moldova Launches Smart Meter Pilot

• Bangladesh to Install 1.2M Prepaid Gas Meters

• Spain's Canal de Isabel II Awards 315,000 Smart Water Meters Contract

• Latvia's AST to Invest $571.4M Into Grid Modernization

• Schneider Electric Tapped to Modernize Serbia's Entire MV Electrical Distribution Network

• Xcel Energy to Deploy Private LTE Network to Support Grid Modernisation

• Ohio-Based One Energy Begins Operation of Fully Digital Substation

• Endesa Launches Distribution Network Digital Twin Project

• Microgrid Initiatives and Agreements, 3Q23

• Australian Endeavour Energy Introduces First NSW Community Microgrid

• Ghana Opens Bidding for 35 Minigrid, Solar Net-Metering Projects

• Energy-Efficiency and Water Conservation Initiatives and Sustainability Projects (Including Smart Cities), 3Q23

• U.K. Invests $55.5M to Lower Business Energy Costs

• Kamstrup Partners with Emicool on Cooling Meter Innovation

• Smart Home App Gamifies Grid-Reactive Air Con for Consumers

• Major Flexibility, EV, and Battery Energy Storage Projects, 3Q23

• Piclo to Deliver Italy's First Local Flexibility Market with E-Distribuzione

• Northern Powergrid Procures Flexibility Services from Piclo

• BT Group to Launch Electric Vehicle Charging Pilots in the U.K.

• ENGIE Acquires Broad Reach Power in the U.S.

• EDF to Develop 114MW Battery Asset Near Norwich

• Carlton Power Secures Planning Consent for 2,080MWh BESS in UK

• Major IT Ecosystem Acquisitions and Agreements, 3Q23

• Kaluza Expanding Global Footprint to Australia and New Zealand

• GE Vernova Acquires Greenbird to Accelerate GridOS Innovation

• GE Digital, EPEX SPOT Partner on Flexibility Markets for System Operators

• Bidgely Partners with GridX on Energy Cost Control for Energy Customers

• IT and OT Contract Wins, 3Q23

• Kansai Using Oracle Customer Care and Billing

• BKW Selects Hansen Technologies for SaaS Meter Data Management

• adesso to Migrate SAP S/4HANA Utilities to the Cloud for TEAG Thüringer Energie AG

• ENGIE Chooses Ferranti's MECOMS 365

• BC Hydro Selects Powerley for Home Energy Management

• Lumme Energia Chooses Eliq for Smart Monitoring Feature

• OAP Chooses Eliq to Launch nybo Energy Platform

• isMobile to Support Israel's Smart Meter Rollout

• Swedish TSO Contracts Sweco for Grid Modernization

• Dorper Wind Farm Selects BaxEnergy to Monitor and Control Their Wind Portfolio

• EDF Awards Eviden, Schneider Electric to Equip 6 Planned EPR2 Nuclear Power Plants

• Xenn Energy Management App Launched in Belgium

• Subeca Launches Water AMI Innovation with Amazon Sidewalk

• Utilities and GenAI, 3Q23

• Deloitte Launches Strategic Co-Innovation Initiative with Google Cloud

• Deloitte Expands Alliance with NVIDIA to Unlock Value of GenAI

• Hitachi Energy, Google Cloud Partner on AI Data Analytics

• ABB to Co-Develop Edge Computing for Decentralized Networks

Advice for Technology Suppliers and Service Providers

Learn More

• Related Research

• Synopsis