In 2022, the energy crisis has strongly questioned the security of European and national energy supplies. The geopolitical crisis, generated by the Russian-Ukrainian conflict and with the consequent weakening of relations between Europe and Russia, has led to a reduction in Russian gas supplies of more than 51% in the first 11 months of 2022 compared to the same period of 2021. This contributed to the sharp increase in commodity prices, already recorded at the end of 2021 in the post-Covid period, with strong impacts on the accounts of energy groups with lower liquidity reserves and small and medium-sized energy producers. However, the effect on the main Italian and European energy companies was not critical, with particular reference to utility, thanks to the vertical integration between production and sales, and groups renewable, by virtue of the limited exposure to merchant risk and a cost structure not influenced by the dynamics of commodities. In response to the turbulence of the energy market, measures have been adopted, both at European and national level, adding to the concept of sustainability that of energy security.
In this extraordinary market context, the M&A Utilities 2023 study, realized by act in collaboration with Accenture, analyzed the impact generated by the energy crisis on the financials and investments of 2022 and the prospects of the main Italian and European utilities. In particular, during the workshop, the following will be explored, including: the trend of investments and the role of the PNRR in their acceleration, the evolution of turnover, profitability and debt, the contribution of operators to national tax revenues, the financial strategies to facing the expensive energy. The study will be presented tomorrow, Thursday February 16.
At the conclusion of the workshop, a qualified round table will be held in which the top managers of the sector will participate in order to discuss the economic-financial trend of the Utilities in the year that has just ended and think about the prospects for the next three years.
Annual Report 2023
The study “Utilities facing the energy crisis: investments and economic-financial performance” aims to analyze the impact of the energy crisis on the utility sector. In particular, the Report focuses on the analysis of the following topics:
- Gas&Power market in Italy and Europe, with a focus on energy policies and countermeasures to the cost of energy, and on the trend of energy production and consumption and the prices of gas, electricity and CO2.
- Investments made and strategic trends of the main utilities and network operators in Italy and Europe.
- Economic-financial health of the main Italian and European utilities in the period 2020-2025.
- Analysis of public support initiatives for energy operators, with in-depth analysis of the most significant European business cases.
