EU utilities under pressure to change business models.

FT: “Faced with a grim present and an even grimmer future, Europe’s utilities are being forced to reinvent themselves – and adapt to a technological revolution in home energy services.”
“For the utilities to survive, a fundamental change in approach is needed, Citi’s Ms Savvantidou says. “They need to focus on services, look at renewables, smart grids and new technologies like battery storage, rather than clinging to thermal generation, which will really struggle to get back to the high returns of 2006-08.”