PWC’s Jeroen van Hoof thinks the utilities space will look very different over the coming years
Majors see opportunity in utility fragmentation
PWC sees value for IOCs as the traditional utility model becomes less relevant
International oil companies (IOCs) returning to the utility business has been a clearly observable trend over several years, with the European headquartered majors at the forefront. Shell's installed generating capacity in North America is now above 10GW, of which one-third is from renewable sources, and it has also invested in Dutch offshore wind. In the UK, its acquisition of supplier First Utility sees it supplying 100pc renewable power, as well as gas and energy services, to domestic consumers, while, through MP2 Energy, it has also entered the US supply market. Shell has also bought into US and Asian solar, while it has made three investments in electric vehicle (EV) charging firms and
Also in this section
2 June 2025
More than anything else, weak Chinese gas demand is providing relief to EU consumers, but it is uncertain how long this relief will last
30 May 2025
Energy majors argue transition debate has started to factor in the complexities of demand shifts and the wider role for gas
29 May 2025
Sovereignty is the watchword for the new government, but there are still upstream opportunities for those willing to work closely with the state
29 May 2025
A cautious approach to coal-to-gas switching offers lessons to others who are looking to balance cost with cleaner energy
