EMEA Utilities Industry Quarterly Update: April-June 2024

Executive Snapshot

• Figure: Executive Snapshot: Utilities Industry Quarterly Update, April–June 2024

New Market Developments and Dynamics

• Situation Overview

• Renewables

• Hydrogen

• Electric Vehicles

• Business Environment, 2Q24

• Figure: Worldwide Real GDP Growth Forecasts by Region, 2024

• Demand and Prices

• Oil Prices

• Figure: Brent Oil Price and WTI Crude Oil Price Trends 12-Month Hindsight, July 2023–June 2024

• Electricity Prices

• Figure: Electricity Prices in Major European Power Exchanges, July 2023–June 2024

• Figure: U.S. Average Actual Residential Electricity Prices, July 2023–June 2024

• Indicators of Renewable Performances on Financial Markets

• Figure: NASDAQ Clean Edge Green Energy Total Return, July 2023-June 2024

• Listed Utilities Performance

• Figure: Dow Jones Indexes, July 2023-June 2024

New Market Developments and Dynamics

• M&As, Agreements, Reorganizations, and Major Business Developments, 2Q24

• Octopus Energy Group, Energisa to Empower Brazil's Energy Clients

• Enel Sells 49% of Italian Storage Business to Sostoneo

• Ørsted to Divest its French Onshore Business to ENGIE

• South Africa's Decoupled Transmission Company Starts Trading

• U.K. Innovation Project Assesses Thames-to-Grid Tech

• EDF Unveils Decentralized Quantum Datacenter in Canada

• Brookfield, Microsoft to Deliver Over 10.5GW of New Renewable Power Capacity Globally

• AWS Acquires Datacenter Campus From Talen Energy

• Estonia's Enefit to Develop New Power Forecasting Model

• New Financing Deals, 2Q24

• EU Modernization Fund Disburses $3.2 Billion for Grid Upgrades, Renewables

• EIB, Snam Sign Financial Agreement for Energy Efficiency

• EBRD Supports Italy to Tunisia Interconnector With $49 Million Package

• World Bank Supports Armenia With $40 Million for Transmission Modernization

• U.K. Awards $108 Million for Offshore Wind Testing Facility

• CEC Selects EnergyHub to Expand Virtual Power Plants in California

• Major Renewables Infrastructure Projects, 2Q24

• New York's Offshore Wind Farm Gets the Green Light

• Ørsted to Develop Offshore Wind Projects in Australia

• Ørsted Installs Siemens Gamesa Turbine at Borkum Riffgrund 3 in Germany

• Ørsted Constructs Combined Wind and Solar Project in Texas

• GE Vernova Invests in Xlinks Morocco – UK Power Project

• India's NHPC to Implement Floating Solar Technology

• SP Energy Networks Selects Hitachi Energy to Boost Renewable Energy Flow

• Sweetch Energy, Rockwell Optimize Electricity Generation Technology

• Major Green Hydrogen Projects, 2Q24

• Origin, Orica Win Permit for 55MW Electrolyzer Project in NSW

• Green Hydrogen Plant Opens at Reichenau Hydropower Station

• Smart Meter and Smart Grid Initiatives, 2Q24

• DTEK Partners With Schneider Electric on Ukrainian Grid Modernization

• South Africa's Cape Town Plans $213 Million Grid Upgrades

• Three Ohio Utilities Set for Additional 1.4 Million Smart Meters

• 500,000 Smart Prepayment Meters for Bangladesh

• E.ON Installing 165,000 Smart Meters in Hungary

• PVVNL, MVVNL Joins RMC Switchgears for Smart Metering

• Puerto Rico Gets 1.4 Million Smart Water Meters

• South Africa Chooses Sigfox for Smart Water Meter Support

• Tantalus Systems to Modernize Grids across Three U.S. States

• SUEZ, Vodafone to Implement 2 Million NB-IoT Smart Water Meters by 2030

• Major Flexibility, EV, and Battery Energy Storage Projects, 2Q24

• Ørsted Plans Tesla Battery for Hornsea 3 Offshore Wind Farm

• Octopus Energy Group, Gresham House Sign Battery-Leasing Deal

• Schneider Electric, AVEVA Partner With IN-CORE Systèmes for EV Batteries

• RPC, Altea Green Power Partner on 1GW Battery Storage Pipeline

• TotalEnergies to Develop Second Flexible Battery Project in Belgium

• Nuveen, Exus to Develop 800MW Italian Battery Projects Portfolio

• Enel X, Digital Realty to Support Ireland's Renewable Energy Transition

• ORLEN Invests in Ultra-Fast Charging Stations

• Megawatt Charging System From Siemens Delivers 1MW Charge

• Ostrom to Establish VVP in Germany With be.storaged

• GridBeyond Battery, EMS to Prop U.K. Glass Facility for Grid Support

• Energy-Efficiency and Water Conservation Initiatives and Sustainability Projects (Including Smart Cities), 2Q24

• Norlys Energi, Eliq Launch New App for Danish Households

• Energia Launches Energy Insights for its Customers

• Ikea Adds Energy Monitoring to its Home Smart App

• Honeywell Helps Buildings Address Energy Waste and Protect Critical Assets

• Major IT Ecosystem Acquisitions and Agreements, 2Q24

• IFS Acquires Copperleaf Technologies

• Capgemini to Acquire D+I in Australia

• Cognizant to Acquire Belcan for $1.3 Billion

• Capgemini, Schneider Electric Collaborate to Help Companies Achieve Energy Optimization

• Equigy, Capgemini to Develop Efficient Energy System Across Europe

• SMS, Eliq Join for Untapped SME Energy App Market

• Kaluza Strengthens Relationship With AWS

• Gorilla Raises $25 Million to Help Energy Companies Navigate the Energy Transition

• ABB, Cleanwatts to Accelerate Intelligent Energy Management in Communities, Buildings

• Hong Kong PolyU Establishes Grid Modernization Research Centre

• IT and OT Contract Wins, 2Q24

• EDF, Accenture, Kraken Technologies to Accelerate Customer Transformation

• U.K. npower Business Solutions Extends Strategic Partnership With Gentrack

• Gasunie Improves the Dutch Energy Sector With Microsoft Intelligent Data Platform

• ScottishPower Selects Gorilla

• AGL Selects Kaluza

• National Grid Partners With Electron to Maximize Flexibility Participation

• Vattenfall Chooses Sabio for Genesys Cloud and Support Services

• New Mexico Gas Company Upgrades to the Latest Version of Hansen CIS

• Ghana Water Limited Selected Microsoft for Digital Transformation

• DEWA Launches Smart App on Apple Vision Pro AR/VR Headset

• IT Product Announcement, 2Q24

• Siemens Smart Infrastructure Launches Electrification X

• Honeywell Introduces Honeywell Forge Performance+ for Utilities

• Xylem Introduces New Mobile Technology to Meet Drinking Water Filtering Demands

• Utilities and GenAI, 2Q24

• TotalEnergies to Deploy Generative Artificial Intelligence for its Employees

• Uniper Launches Microsoft AI Assistant Copilot for All Employees

• Cognizant, Microsoft Partner to Expand Adoption of Generative AI in the Enterprise

• TCS Launches WisdomNext GenAI Aggregation Platform

• Enerjisa Üretim Unleashes Employees' True Potential With Microsoft Copilot

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