EMEA Utilities Industry Quarterly Update: October-December 2022

Executive Snapshot

• Figure: Executive Snapshot: Utilities Industry Quarterly Update

New Market Developments and Dynamics

• Situation Overview

• Business Environment, 4Q22

• Figure: Worldwide Real GDP Growth Forecasts by Region, 2022

• Figure: Personal/Private Consumption for Select Geographies, 1Q22–4Q22

• Demand and Prices

• Oil Prices

• Figure: Brent Oil Price and WTI Crude Oil Price Trends 12-Month Hindsight, January 2022–December 2022

• Electricity Prices

• Figure: Electricity Prices in Major European Power Exchanges, January-December 2022

• Figure: U.S. Average Actual Residential Electricity Prices, January–December 2022

• Clean Energy and Sustainability

• Indicators of Renewable Performances on Financial Markets

• Figure: NASDAQ Clean Edge Green Energy Total Return, January–December 2022

• Listed Utilities Performance

• Figure: Dow Jones Indexes, January-December 2022

• M&As, Agreements, Reorganizations, and Major Business Developments, 4Q22

• BP to Buy U.S. Biogas Producer Archaea for $4.1 Billion

• Shell to Buy Danish Firm Nature Energy for Nearly $2 Billion

• Octopus Energy Acquires Bulb

• Iberdrola Spurs 11 Million Customers to Reduce Energy Use

• U.K.'s National Grid to Pay Smart Meter Homes to Reduce Their Energy Use

• Octopus Energy Flexibility Scheme Pays Prosumers to Support the Grid

• Google, C40 Cities Launch Carbon-Free Energy Pilot

• Nigerian REA Signs MOU to Develop Rural Solar Energy Projects

• Scala Data Centers Inks Deal With Enel for Power Supply in Latin America

• New Financing Deals, 4Q22

• EIB's $29.9 Billion Equity Supercharge for REPowerEU

• Iberdrola Taps EIB for $215 Million Smart Grid Development

• Endesa Planning to Invest Nearly $1 Billion to Digitalize Catalonia's Grid

• Latvian TSO to Invest Over $516.8 Million in Digital Grid Solutions

• Engie Energía Builds Wind Farm in Peru With IDB Invest Support

• CABEI Approves $100 Million for El Salvador's CEL

• GreenSwitch Smart Grid Project to Receive $77 Million

• Major Traditional Infrastructure Projects, 4Q22

• New Gas-Fired Plant Will Nearly Double Guyana's Power Generation

• NET Power's Allam Cycle 300MW Gas-Fired Project Will Be Built in Texas

• ESB Gives Contract to Build Gas-Fired Power Plant in Ireland

• Switzerland Secures 250MW GE Gas Power Plant for Winter Reserve

• Thailand Starts Up First of Two Natural Gas-Fired CCP Plants

• Major Renewables Infrastructure Projects, 4Q22

• Kazakhstan Advances 40GW Renewables to Power Green Hydrogen for EU

• Engie Signs Vestas to Implement Wind Project in Latin America

• Saudi Arabia's ACWA Signs PPA in Uzbekistan

• Japan's First Large Offshore Wind Farm Starts Operations

• GreenYellow Signs Its First Major Solar PPA With 2W Energia in Brazil

• First Virtual Power Plant Inaugurated in Greek Energy Market

• Major Green Hydrogen Projects, 4Q22

• SoCalGas Produces First Green Hydrogen in a Home Microgrid

• Everfuel Starts Producing Green Hydrogen at Europe's Largest Electrolyzer

• Water: New Developments, 4Q22

• Tetra Tech Wins Contract for Climate-Resilient Water and Sanitation Services

• Singapore to Connect 300,000 Itron Smart Water Meters

• Schneider Electric Upgrades Digital Twin Tools for Water and District Energy Utilities

• U.S. Tech Partnership to Advance Utility Water Loss Detection and Metering

• Smart Meter and Smart Grid Initiatives, 4Q22

• New York Approves Revelo Advanced Meter

• PNM Proposes $344 Million Grid Modernization Plan in New Mexico

• Egyptian NDEDC Awards Grid Control, AMI Contracts to Siemens

• Finland's Vaasa Electricity Network to Install 65,000 Smart Meters

• Minnesota Utility Installs Smart Grid AMI for Enhanced EV Load Management

• Romania Secures $411.8 Million for Massive Grid Overhaul

• FirstEnergy Concludes Three-Year U.S. Smart Grid Automation Project

• Red Eléctrica, EnerAgen Collaborate on Smart Meter Analysis Hub

• Duke Energy, AWS Partner on Smart Grid Solutions

• Equinor, Hitachi Energy to Develop High-Tech HVDC/AC Grid Connectors

• Microgrid Initiatives and Agreements, 4Q22

• Minnesota Utility Wants to Expand Work on Community Microgrids

• Financing for Rural Electrification in Togo Through Minigrid Deployment

• Minigrid Powers 930 Homes in Rwanda

• ORPC, Schneider Electric Join Forces for Marine Energy Microgrids

• Energy-Efficiency Initiatives and Sustainability Projects (Including Smart Cities), 4Q22

• Smart Meters, Heat Pumps to Drive Belgian Domestic Flexibility

• Bidgely Partners With U.S. Coop NISC

• SCP Partners With Recurve for VPPs in Sonoma and Mendocino Counties

• KBC Uses Eliq to Give Mobile Banking Customers Insight Into Home Energy Consumption

• Hoosier Energy Member Co-op Launches "Connect to Save" Program

• TenneT Launches Flexibility Monetization Tool

• ARENA, Shell Energy to Demonstrate Commercial Flexibility in Australia

• Major Hybrid and Battery Energy Storage Projects, 4Q22

• Tesla Battery Installed Near Dogger Bank Offshore Wind Power

• Zenobē Kicks Off Grid Stability Battery Projects in Scotland

• Vicinity Centres, Enel X Partner on Battery Storage Projects

• NHOA to Supply Energy Storage System in Latin America

• GM Launches Energy Storage Business

• InoBat Inks Declaration for EV Battery Gigafactory in Serbia

• Major eMobility Agreements, 4Q22

• East Bay Community Energy Launched EV Charging Program

• Hertz, bp Collaborate on EV Charging in North America

• Volkswagen Steps Up EV Battery Development and Production

• Pay-as-You-Drive Electric Motorcycles Hit the Roads in Rwanda

• Major IT Ecosystem Acquisitions and Agreements, 4Q22

• PwC Acquires Data-Focused Consulting Firm Sagence

• Schneider Electric Partners With Eliq

• Propeye Integrates Semtech's LoRa Devices for U.S. Launch

• Cognizant Acquires Energy and Utility Specialist Utegration

• IT and OT Contract Wins, 4Q22

• DEWA Launches DEWAVerse Platform on Metaverse

• Eletrobras Digitalizes With Google Cloud

• Centrica Extends Relationship With Cognizant

• FirstEnergy Implements Oracle Advanced Distribution Management System

• Naturgy's Field Technicians Empowered by OverIT's Augmented Reality

• National Grid Installs LineVision's Dynamic Line Rating Sensors

• IT Product Announcement, 4Q22

• Reactive Technologies Launches Tradenergy for Short-Term Energy Traders

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