Utilities deliver and dispose of the vital needs and functions of society. As such, they are prized by investors for their stable, non-cyclical attributes. But now, more of Europe’s energy utilities are slipping towards lower, riskier ratings. Market liberalisation is driving the change, and the leaders have responded with aggressive cross-border, multi-utility consolidation strategies. Quentin Carruthers reports on how the capital markets are funding this increasingly competitive industry
September 28, 2001