European P&U Report 2Q & 3Q 2021

During 9M21 (9 Months of 2021), electricity prices in Europe skyrocketed, driven by a surge in wholesale gas and power prices globally. Further, lower gas supplies, a longer heating season in 2020–21 and unfavorable weather conditions for producing renewable energy resulted in an undersupply. This will likely result in inflated electricity bills in the upcoming winter months. In 3Q21, European coal-fired generation became more economical than gas-fired, as clean dark spread was above clean spark spread. Gas-fired generation decreased and coal-fired generation increased, both q-o-q and y-o-y.

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Windmill in ocean

European P&U Report 1Q 2021

In 1Q21, most companies in KPMG P&U 20 experienced a growth in revenue and EBITDA values, supported by favourable market fundamentals and increased focus on renewable energy.

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White windmill in blue sky

European P&U Report 4Q 2020

In 3Q20, most companies in KPMG P&U 20 experienced an improvement in revenue and EBITDA values, driven by the improving energy market environment.

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Electric pole and blue sky

European P&U Report 3Q 2020

The COVID-19 outbreak has illuminated the global power and utility industry’s resilience and presented unique opportunities to fast forward renewables.

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Electric pole and blue sky

European P&U Report 2Q 2020

The effect of COVID-19 was immediately felt in the first quarter of 2020 as European P&U companies’ financial results indicate.

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Power electric pole

European P&U Report 1Q 2020

European P&U players started the year consistent with 2019. Similar to a lot of other sectors, the unexpected disruptions due to the covid-19 pandemic had hit the P&U industry by the end of the first quarter.

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European P&U Report 4Q 2019

Electricity prices in Germany and Spain continued to increase till the last week of October, primarily due to higher than expected colder weather and low wind generation, however, prices declined in the first week of November on account of higher renewable energy generation. Electricity prices for the UK, France, Germany and Spain peaked to 10 month high in the second and third week of November due to unstable renewable energy production and lower temperatures forecast. Prices declined in December resulting from high renewable output and low demand.

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European P&U Report 2Q & 3Q 2019

Electricity prices in France, Germany, Spain and the UK remained below average in April and continued to decline till the first week of May, primarily due to mild weather conditions, high renewable output and low demand. Peak and base load prices remained fairly stable with occasional peaks observed through the second and third quarter, attributed to the rise in gas prices, rally of carbon contracts, bullish movement of coal contracts and concerns around French nuclear plants. Prices declined in the first week of September due to weaker coal, carbon and gas market accompanied by low demand.

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