PWC’s Jeroen van Hoof thinks the utilities space will look very different over the coming years
Majors see opportunity in utility fragmentation
PWC sees value for IOCs as the traditional utility model becomes less relevant
International oil companies (IOCs) returning to the utility business has been a clearly observable trend over several years, with the European headquartered majors at the forefront. Shell's installed generating capacity in North America is now above 10GW, of which one-third is from renewable sources, and it has also invested in Dutch offshore wind. In the UK, its acquisition of supplier First Utility sees it supplying 100pc renewable power, as well as gas and energy services, to domestic consumers, while, through MP2 Energy, it has also entered the US supply market. Shell has also bought into US and Asian solar, while it has made three investments in electric vehicle (EV) charging firms and
Also in this section
11 March 2026
De la Rey Venter, CEO of LNG player MidOcean Energy, discusses strategy, project developments and the prospects for the LNG market
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
