Abstract
The European power and gas industry is in the midst of an unprecedented
transformation; several factors are driving fundamental change in the industry
such as liberalisation and increased competition, strategic mergers and
acquisitions, the Emissions Trading System, convergence of gas and electricity
and concerns about climate change and energy security. 'The Top 10 European
Utility Companies' is a new management report that comprehensively analyses
each of the forces that are shaping the industry's future as well as the
underlying long-term trends in the demand, supply and prices of power and gas
in Europe. This report provides detailed profiles of the top ten power and gas
firms including their strengths, growth strategies, the challenges they face
and business models for the top 20 companies. This new report will enable you
to identify the critical success factors of the leading players, enhance your
competitive strategies and exploit growth opportunities.
Table of Contents
Executive Summary
- Market context
- Eni SpA
- E.ON AG
- Electricite de France SA
- RWE AG
- SUEZ SA
- Enel S.p.A.
- Gaz de France
- Centrica plc
- ENDESA, S.A.
- Gasunie Trade & Supply B.V.
Chapter 1 Introduction
- What is this report about?
- Methodology
Chapter 2 Market context
- Overview
- Global Electricity Consumption
- Global Supply and Fuel Sources
- Electricity Consumption in Europe
- Electricity Supply in Europe
- Electricity Prices in Europe
- Outlook for electricity prices
- Gas Consumption in Europe
- Gas Production and Supply in Europe
- Gas Prices
- The State of Deregulation
- Mergers & Acquisitions and Key Players
- The European Emission Trading System
Chapter 3 Eni SpA
- Summary
- Company Information
- Current Business and Strategy
- Power Generation
- Power Supply
- Gas Supply and Transmission
- Other Gas Related Businesses
- SWOT Analysis
- Strengths
- High level of diversification
- Consistent financial growth
- Weaknesses
- Declining margins of gas and power division
- Opportunities
- Demand for natural gas in Italy
- Fast growing LNG markets
- Threats
- Changes in the system of transmission network access
- Increased political risk
- Mergers & Acquisitions
- Future Outlook
Chapter 4 E.ON AG
- Summary
- Company Information
- Current Business and Strategy
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- SWOT Analysis
- Strengths
- Dominant business position
- Streamlined operations
- Sound financial condition
- Weaknesses
- Significant exposure to German regulatory changes
- Opportunities
- Strategic alliance
- Heavy Investments
- Italian Market
- Threats
- Uncertainty of Russian Gas Supplies
- Unfavorable weather conditions
- Mergers & Acquisitions
- Future Outlook
Chapter 5 Electricite de France SA
- Summary
- Company Information
- Current Business and Strategy
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- SWOT Analysis
- Strengths
- Leadership position
- Global Coverage
- Increased profitability
- Weaknesses
- Latin American operations
- Large unionized workforce
- Opportunities
- Renewal of nuclear generation infrastructure
- Potential growth in renewable energy
- Focus on growth in China
- Threats
- Deregulation of the French markets
- Sensitivity to weather
- Government regulations
- Mergers & Acquisitions
- Future Outlook
Chapter 6 RWE AG
- Summary
- Company Information
- Current Business and Strategy
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- SWOT Analysis
- Strengths
- Diverse range of services
- Strong market position
- Weaknesses
- Decline in electricity sales volume and power generation
- Opportunities
- Concession agreement in Egypt
- New discoveries of oil and gas
- Expansion of wind power capacity
- Increased cash flow from divestment of water business
- Threats
- Environmental regulations
- Saturation of resources in North Sea
- Unfavorable weather conditions
- German regulatory changes
- Mergers & Acquisitions
- Future Outlook
Chapter 7 SUEZ SA
- Summary
- Company Information
- Current Business and Strategy
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- SWOT Analysis
- Strengths
- Market leader in Benelux
- Diversified operations
- Financial strength
- Environment-friendly generating facilities
- Weaknesses
- Dependence on mature market
- Rising fuel costs
- Opportunities
- Proposed merger with GDF
- Expansion in Italy
- Development of renewable energy sources
- Research opportunities
- Threats
- Deregulation of electricity and gas markets
- Increased competition
- Execution risks related to large acquisitions/mergers
- Mergers & Acquisitions
- Future Outlook
Chapter 8 Enel S.p.A.
- Summary
- Company Information
- Current Business and Strategy
- Power Generation
- Power Supply
- Gas Supply
- SWOT Analysis
- Strengths
- Strong market position
- Strong financial performance
- Significantly high residual asset life
- Varied fuel mix
- Weaknesses
- Cartel probe against Enel
- Opportunities
- Increase in Coal plants
- Foreign operations expansion
- Demand for natural gas in Italy
- Threats
- Volatile fuel prices and supplies in future
- Regulation in the generation segment
- Large number of legal proceedings
- Mergers & Acquisitions
- Future Outlook
Chapter 9 Gaz de France
- Summary
- Company Information
- Current Business and Strategy
- Power Generation and Supply
- Gas Transmission and Storage
- Gas Distribution and Supply
- Other Businesses
- SWOT Analysis
- Strengths
- Leading market position in Europe
- Strong growth of energy supply and services segment
- Strong cash position
- Weaknesses
- Opportunities
- Proposed merger with SUEZ
- Growth of electricity business
- Acquisition of Distrigaz Sud
- Threats
- Liberalization of French gas markets
- Growing demand for energy from renewable resources
- Saturation of resources
- Mergers & Acquisitions
- Future Outlook
Chapter 10 Centrica plc
- Summary
- Company Information
- Current Business and Strategy
- Power Generation
- Power Supply
- Gas Supply
- SWOT Analysis
- Strengths
- Major UK gas supplier
- Diversified business interests
- Largest gas storage reservoir
- Weaknesses
- Customer losses
- Declining profits of the UK businesses
- Low electricity generating capacity
- Opportunities
- Strong demand for gas storage capacity
- Rising UK gas demand
- Rising gas demand in North America
- Threats
- Regulatory threats
- Slowing deregulation opportunities
- No regulated assets
- Weather risk
- Mergers & Acquisitions
- Future Outlook
Chapter 11 ENDESA, S.A.
- Summary
- Company Information
- Current Business and Strategy
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- SWOT Analysis
- Strengths
- Large scale of operations
- Diversified operations
- Sound financial condition
- Weaknesses
- Unfavorable generation portfolio
- Decline in hydroelectric production
- Opportunities
- High growth in the Spanish market
- Growth in Italian retail market
- Growth in renewable energy
- Threats
- Increasing oil prices
- Liberalization of the European electricity industry
- Regulatory changes
- Increased Latin American operations
- Mergers & Acquisitions
- Future Outlook
Chapter 12 Gasunie Trade & Supply B.V.
- Summary
- Company Information
- Current Business and Strategy
- Gas Sales
- Other Businesses
- SWOT Analysis
- Strengths
- Part of a strong business group
- Weaknesses
- Limited geographical exposure
- Decline in sales volume
- Opportunities
- Good outlook for gas sales
- High potential of the export market
- Threats
- Liberalization of gas markets in the EU
- Stringent environmental norms
- Pressure from the EU
- Future Outlook
Chapter 13 Companies ranked 11 to 20
- Vattenfall AB
- Company Information
- Power Generation
- Power Supply
- Other Businesses
- Iberdrola S.A.
- Company Information
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- Energie Baden-Wurttemberg AG
- Company Information
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- Wintershall AG
- Company Information
- Gas Supply
- Other Businesses
- Scottish Power plc
- Company Information
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- EWE AG
- Company Information
- Power Supply
- Gas Supply
- Other Businesses
- Edison S.p.A.
- Company Information
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- Essent N.V.
- Company Information
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- Union Fenosa S.A.
- Company Information
- Power Generation
- Power Supply
- Gas Supply
- Other Businesses
- N.V. Nuon
- Company Information
- Power Generation
- Power, Gas and Heat Supply
- Other Businesses
Chapter 14 Future Outlook for European
- Utilities
- Outlook
- SWOT Analysis
- Strengths
- Improved financial performance
- Focused business strategy, reduced risks
- M&A activity will result in additional synergies
- Weakness
- Lack of integration in the European market
- Low secular growth in Europe
- High capital expenditure requirements
- Opportunities
- Full competition from July 2007
- Return of nuclear power
- Threats
- Uncertainty in regulation
- Fuel security and prices
- Mergers & Acquisitions
- Increased competition
- Abbreviations
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