EMEA Utilities Industry Quarterly Update: October-December 2023

Executive Snapshot

• Figure: Executive Snapshot: Utilities Industry Quarterly Update, October–December 2023

New Market Developments and Dynamics

• Situation Overview

• Clean Energy and Sustainability

• Hydrogen

• Energy Efficiency

• Business Environment, 4Q23

• Figure: Worldwide Real GDP Growth Forecasts by Region, 2023

• Demand and Prices

• Oil Prices

• Figure: Brent Oil Price and WTI Crude Oil Price Trends 12-Month Hindsight, January–December 2023

• Electricity Prices

• Figure: Electricity Prices in Major European Power Exchanges, January–December 2023

• Figure: U.S. Average Actual Residential Electricity Prices, January–December 2023

• Indicators of Renewable Performances on Financial Markets

• Figure: NASDAQ Clean Edge Green Energy Total Return, January-December 2023

• Listed Utilities Performance

• Figure: Dow Jones Indexes, January-December 2023

• Utilities and GenAI

New Market Developments and Dynamics

• M&As, Agreements, Reorganizations, and Major Business Developments, 4Q23

• Octopus Energy Completes Purchase of Shell Energy Retail in the U.K. and Germany

• U.K.'s Octopus Energy Launches $3.7 Billion Offshore Wind Fund With Tokyo Gas

• Galicia Launches Clean Power Utility

• Iberdrola's New York Utilities Win Approval for Reliable Energy Plan

• ENGIE Reaches Deal on Extension of Tihange 3, Doel 4 Nuclear Reactors

• New Financing Deals, 4Q23

• Greece's HEDNO to Deploy 3.1 Million Smart Meters

• EU to Boost Gabreta Smart Grids Project With $107.6 Million

• EBRD Lends $87.5 Million to Delgaz Grid in Romania

• Major Renewables Infrastructure Projects, 4Q23

• South America's Floating Solar Farm Launched in Colombia

• Washington Utility PSE to Build 248MW Wind Farm in Montana

• Octopus Energy to Build Sierra Leone's First Wind Farm With Sherbro Alliance Partners

• Ilmatar to Build 186MW Onshore Wind in Finland

• Suzlon Wins 100.8MW Wind Turbine Order in Gujarat in India

• Statkraft Starts Building 42.2MW Solar Farm in Southern Spain

• Neoen Starts Construction of Solar Farm in Australia

• Taesa Chooses Hitachi Energy for High-Voltage Direct Current Transmission System

• CPC Finland Selects Hitachi Energy's Technology for Finland's Solar PV Power Plant

• Major Green Hydrogen Projects, 4Q23

• Canadian Firm to Build $2.9 Billion Green Hydrogen Project in Quebec

• ACWA Power Signs Deal for $1 Billion Green Hydrogen Project in Indonesia

• Australia Funds New Hydrogen Hub Project at Port Bonython

• EDF Renewables UK, Hynamics Get Funding for Green Hydrogen Project

• Smart Meter and Smart Grid Initiatives, 4Q23

• Puerto Rico's 1.5 Million Smart Meter Replacement Gets Go-Ahead

• Serbian DSO Selects Suppliers for 470,000 Smart Meters

• 373,000 Smart Meter Program Launched by Snohomish PUD in the U.S.

• EMASESA to Deploy 77,300 Smart Water Meters in Seville

• New Jersey's TWW Launches Smart Water Meters Program

• Smart Water Metering Pilots in Western Australia

• German TSOs to Cooperate on Four Grid Expansion Projects

• National Grid Refurbishes 170km of U.K. Transmission Network

• UK Power Networks Invest $7.6 Million in Substation Communications

• Enel Unveils Plan for Grid Investment

• Italgas, Tokyo Gas Network Agree to Develop Future Gas Distribution Networks

• Aspern Smart City Grid to Be Modelled With Digital Twin

• Microgrid Initiatives and Agreements, 4Q23

• Canadian Government Invests in First Nation Microgrid Project

• Cuyahoga County to Launch Nation's First Microgrid Utility

• Reon Energy to Build Microgrid for Arabian Yemen Cement

• Major Flexibility, EV, and Battery Energy Storage Projects, 4Q23

• Quebec City Chooses Hitachi Energy for Centralized EV Bus Charging System

• Italy Selects Hitachi Energy to Deploy Ultrafast Charging eMobility Solution

• Turkey Chooses Siemens for 200 EV Fast Chargers and Digital Services

• Ford Buys EV Energy Company AMP to Improve Charging and Battery Management

• Spain's Naturgy to Study Reusing Old EV Batteries for Stationary BESS

• Kaluza, OVO Energy Tap Volvo for Vehicle to Everything Tech

• SDG&E, Toyota to Collaborate on Vehicle to Grid Technology

• GreenV Makes Electric Vehicle Chargers Smart With IoT Technology

• Honeywell to Provide U.S. Virgin Islands With BESS

• Major IT Ecosystem Acquisitions and Agreements, 4Q23

• Uplight to Acquire DERMS Provider AutoGrid

• Cognizant Buying Thirdera in Move to Build ServiceNow Business

• Vector, AWS Extend Renewable Energy Data Platform Partnership

• Siemens Acquires BuntPlanet to Strengthen AI Portfolio in the Water Sector

• Siemens, ServiceNow Enable Cloud-Based Management of OT Assets

• Itron Joins the Green Button Alliance to Help Green Button Standard

• Goodwill Launches Major Green Jobs Program in Partnership With Accenture

• Subeca Launches Amazon Sidewalk-Based Solution for Water Metering

• IT and OT Contract Wins, 4Q23

• National Grid UK to Develop Digital Twin for Regional Energy Planning

• UK Power Networks' Smart Metering Data Moved to Microsoft Azure Cloud Storage

• OVO Completes Migration of SSE Customers

• Varberg Energi Selects Hansen to Power Intraday Trading

• Nordic Energy Retailer Goes Live With Hansen CIS in Sweden

• Genesis Selects Gentrack g2.0 for New Customer Experience

• Tokyo Gas Licenses Kraken to Digitalize Operations

• TAQA Selects Kraken Technology's Platform for Pilot Project

• GE Vernova Awarded Service Agreement for New CCPP in Senegal

• Alectra to Deploy Itron's Distributed Intelligence Technology

• Italgas Monitors 8 Million Smart Meters With New Assurance Solution

• IT Product Announcement, 4Q23

• OpenADR 3.0 Launched for Distributed Energy Resource Management

• Utilities and GenAI, 4Q23

• E.ON Launches GenAI Assistant

• Microsoft Launches Security Copilot Early Access Program

• Microsoft Launches Two New Copilots for Service, Sales

• IBM Continues AI Push With $500 Million Enterprise AI Venture Fund

• Accenture Collaborates With SAP to Help Organizations Adopt GenAI

• Deloitte, ServiceNow Extend Partnership With GenAI Integration

• CGI, Google to Drive Innovation in the Responsible Use of GenAI

• Siemens, Microsoft Partner to Drive Cross-Industry AI Adoption

• Schneider Electric Drives GenAI by Integrating Microsoft Azure OpenAI

• C3 AI Expands Strategic Collaboration Agreement With AWS

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• Synopsis