The European power sector is at a critical juncture. The European Union’s 20-20-20 policy targets are driving a revolution in power technology and there are an abundance of old and polluting utilities that are in dire need of repair. Europe has therefore agreed a forward-looking political agenda to achieve its core energy objectives of sustainability, competitiveness and security of supply 2009 will see substantial investment into new nuclear, new renewables, the emerging carbon capture and storage technologies and a range of innovative T&D projects.
In today’s troubled climate, the utilities sector is in the midst of unprecedented transformation. Several factors are driving fundamental change: liberalization and increased competition, strategic mergers and acquisitions, regulatory pressure around climate change, systems reliability, convergence, electricity and renewable concerns. Today, utilities do business with a highly educated customer base, demanding sophisticated service offerings and competitive pricing.