Powerful new players enter the utilities sector
Oil and gas companies are entering the utilities market—aiming to take advantage of rapid market transformation
In the last few years, an increasing number of International Oil Companies (IOCs) have entered the utilities sector—especially those with headquarters in Europe. Shell, for example, has taken a series of strategic decisions to grab a share of this market. The company has now installed more than 10GW of generating capacity in North America, of which one-third is from renewable resources. It has also invested in offshore wind near the Netherlands, acquired First Utility in the UK to supply gas and energy services to domestic consumers, and entered the US supply market through MP2 Energy, while also buying into US and Asian solar power generation through EV vehicle charging and battery technol
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