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
19 February 2026
Awais Ali Butt, manager for sales and business development at Pakistan LNG Ltd, discusses LNG’s role in energy security across developing, price-sensitive economies, as well as examining trade-offs between buying strategies and the impact of lower prices and policy on import behaviour
19 February 2026
LNG’s technical maturity, availability and price, as well as regulation, have driven its rapid adoption as a marine fuel, yet its future in shipping will depend on transition policies and progress in cutting methane emissions and scaling bio- and synthetic LNG, according to Carlos Guerrero at Bureau Veritas
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
