EMEA Utilities Industry Quarterly Update: July-September 2024
This IDC Market Perspective provides an overview of the utilities industry in 3Q24, covering M&As, agreements, reorganizations, and major business developments; new financing deals; major renewables infrastructure projects; major green hydrogen projects; smart metering and smart grid initiatives; energy-efficiency initiatives; major flexibility, EV, and battery energy storage projects; IT ecosystem major acquisitions and agreements; major IT and OT contract wins; IT product announcements; utilities; and GenAI."Unpredictability has become the name of the game among utilities, and the events of the past two years have been game-changers. While more immediate matters such as supply security, demand efficiency, and tariff impacts on energy consumers are drawing attention from long-term initiatives, contingent factors such as extreme drought and catastrophic weather events are vivid reminders that climate is a non-linear process that must be addressed with extreme urgency. Utilities will continue to prioritize their net-zero journeys and sustainability efforts, with affordability being of paramount importance," said Gaia Gallotti, associate research director, IDC Energy Insights.
Executive Snapshot
New Market Developments and Dynamics
Situation Overview
Renewables
Hydrogen
Business Environment, 3Q24
Demand and Prices
Oil Prices
Electricity Prices
Indicators of Renewable Performances on Financial Markets
Listed Utilities Performance
M&As, Agreements, Reorganizations, and Major Business Developments, 3Q24
Iberdrola Acquires British Network Operator ENW
GIP, Stonepeak bid for Singapore Power's 40% Stake in Jemena
Centrica Acquires ENSEK and its Digital Platform, Ignition
Grid Orchestration Alliance Launched in North America
TSOs Build, Maintain, and Operate Extra HV Power Lines
Scatec Secures PPA for Egypt's First Hybrid Solar, Battery Project
EDF, Octopus Energy Launch Electrify Britain
Octopus Energy to Deliver 100,000 "Zero Bills" Homes
U.K.'s Last Coal Power Plant Shuts Down
New Financing Deals, 3Q24
California Receives Federal Funds to Improve Power Grid
EIB Provides €450 Million to Prysmian
EIB, EU Fund Cabo Verde Energy System Modernization
Slovenia's Elektro Ljubljana Secures $55.3 Million for Distribution Grid Upgrades
CEFC Makes Loan Commitment to Intellihub for Smart Meters
SPEN Gets Funding for Three Critical Projects
Major Renewables Infrastructure Projects, 3Q24
EDF Renewables, Repsol Sign an Agreement for Offshore Wind in Spain and Portugal
Ørsted Launches Heavy-Lift Cargo Drone at Offshore Wind Farm
China's CRRC Reveals First Order for Floating Wind Turbine
Vestas Bags 134MW Turbine Order in Japan From Invenergy
Voltalia Wins Contract for a Solar Power Plant in Ireland
China Energy Engineering Signs Solar Deal With Saudi Partners
Botswana Signs Contract for 100MW Solar Plant
Hitachi Energy to Deliver Dead Tank Breaker to SGCC
Major Green Hydrogen Projects, 3Q24
U.K.'s Wales & West Leads Green Hydrogen Development
BP Joins Consortium Developing Egypt Green Hydrogen Projects
Boson Energy, Siemens Collaborate on Hydrogen for EV Charging
Smart Meter and Smart Grid Initiatives, 3Q24
Croatia's HEP to Install Smart Meters
Indian Smart Metering Contract for Communication Modules Awarded
Polish Enea to Install 273,000 Smart Meters in 2025
500,000 Smart Meters for Kuwait's Phase 2 Rollout
Mitsubishi Electric Delivers Head-End System to Taipower
AES Ohio Set for Second Phase of Smart Grid Deployment
Siemens Signs Deal to Modernize Nigerian Power Infrastructure
Yorkshire Water Awards 1.3 Million Smart-Meter Rollout
Australia's South East Water Deploys Smart Water Meters
Genus Ships Smart Ultrasonic Water Meters to Australia
LoRaWAN for Water Submetering in 27,000 Swedish Apartments
Trilliant, Sense Partner on Edge Intelligence for AMI
Major Flexibility, EV, and Battery Energy Storage Projects, 3Q24
ENGIE Starts Construction of Battery Parks in Belgium
Harmony Energy to Build BESS in France
Australian Datacenter Project Taps GE Vernova for BESS
chargEV Unveils BESS for EV Charging Infrastructure
Vattenfall InCharge Wins Tender in the Netherlands
Siemens, E.ON Collaborate on Fast-Charging Systems
EDF Trials Bidirectional Charging for Solar Panels in the U.K.
Kaluza, Mitsubishi Corporation Launch JV in Japan
Energy-Efficiency and Water Conservation Initiatives and Sustainability Projects (Including Smart Cities), 3Q24
Residential PG&E Customers to Access Electricity Usage Data from Apple Home App
Customers Reduce Energy Use During Heat Wave
British Gas, Mixergy "Pay Homeowners to Switch on"
TRENDE Launches Commercial P2P Energy Trading Service
Schneider Electric Launches AI-Powered HEM Feature
Major IT Ecosystem Acquisitions and Agreements, 3Q24
Kraken Technologies Acquires Energetiq
Kraken Technologies Opens Clean Tech Superhub
Southern Company Services to Lead Digital Twin for Cyber-Resilience Project
Accenture Acquires True North Solutions
Accenture Acquires Boslan
Cognizant Completes Acquisition of Belcan
ENSEK Acquires Zoa to Expand Tech Offering to Utilities
Siemens Xcelerator Partner Ecosystem Adds IFS
Oracle, AWS Join for Strategic Partnership
Beebop.ai Secures $5.5 Million for VPP Technology
Geoelectric Map of U.S. to Protect Power Grid From Space Weather
Banyan Software to Fund Solar Asset Mapper Project
IT and OT Contract Wins, 3Q24
Capgemini Signs With TenneT for its Cloud Transformation
Kraken Signs Champion Energy as First U.S. Client for its Customer Solution
EWE, powercloud Extend Cooperation by Five Years
Solstice Energy Expands Partnership With Gentrack
E.ON Next Partners With Amber to Revolutionize Energy Consumption
Essent uses the Eliq Energy Insights Platform
Water Authority of Fiji Deploys Gentrack on AWS to Drive Business Transformation
Yu Energy Extends Partnership With Gentrack
IT Product Announcement, 3Q24
Emerson Updates Ovation Automation Platform
Siemens' EnergyIP Renamed to Gridscale X Meter Data Management
Utilities and GenAI, 3Q24
DEWA Adopts Microsoft Copilot
Deloitte, AWS Work on GenAI, Quantum Computing
Accenture Launches Custom LLM Models on Nvidia AI Foundry
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