target audience: TECH SUPPLIER  Publication date: Nov 2023 - Document type: Market Perspective - Doc  Document number: # EUR150084223

EMEA Utilities Industry Quarterly Update: July–September 2023

By:  Gaia Gallotti Loading

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Table of Contents


  • 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