The utilities sector is complex and changing rapidly as companies pursue new models of value creation. Some strategies fiercely reinforce the traditional integrated utility strength of owning production, distribution and the customers. Others seek competitive advantage (or have it thrust upon them by regulators) by concentrating on particular parts of the energy chain. Previously sacrosanct national boundaries are falling as cross border investment progresses. Energy trading is becoming a risky essential. But the trend to liberalisation, convergence and competition for end customers is by no means uniform across territories. National differences abound.
Recent postings
A world of difference: 2008 Utilities global survey
This survey marks the tenth anniversary of PwC annual utilities global survey of 118 senior executives in 37 countries and reveals a sector that is anticipating wide scale transformation in the decade ahead.
Financial reporting in the utilities industry*
National standards in other countries are being converged with IFRS. The global trend towards IFRS has gained significant further momentum with the US Securities and Exchange Commission's (SEC) commitment to the standards, beginning with its decision to drop the requirement for foreignlisted companies in the US to reconcile to US GAAP.
Need to know* The future of IFRS for the extractive industries
The IASB is undertaking a project that could change the face of accounting for extractive activities.
Power deals 2007 annual review: Mergers and acquisitions activity within the global electricity and gas market
The year 2007 saw a continued remarkable expansion in the total number and value of deals in the power utilities sector (electricity and gas) worldwide. A 25 percent increase put the total power deal value of US$372.5bn nearly nine times above the US$43bn recorded just four years earlier in 2003.
Energy and efficiency: The changing power climate: Utilities global survey 2007
In 2007 we see a power utilities sector that appears much more ready to make the changes that arise from the threat of climate change. In
Energy and efficiency: The changing power climate we report on a sea change in the sector’s thinking.
Value and growth in the liquefied natural gas market
The future development of LNG as one of the fastest growing areas of the energy market worldwide will also require the development of new technologies and will depend on the pace in which they are put into practice. These challenges for the engineering sector and the shipbuilding industry will have a considerable influence on the investment programmes of governments, infrastructure and transportation companies as well as of private investors. Our report also covers these possible or, even, probable consequences.
Power deals: 2006 annual review
2006 was another record-breaking year in the electricity and gas utilities sector. Total deal values shot through the record level set in 2005 to reach a dizzying US$298.8 billion. This is nearly seven times the US$43 billion level of transactions recorded in the sector only three years earlier in 2003.
Getting the data right: A survey of information technology solutions to meet EU emissions trading scheme requirements
For the first time, the most relevant information technology solutions to meet EU emissions trading scheme requirements were listed and assessed for your convenience.
LNG: A glossary of terms
With LNG playing an increasingly important part in the world's energy mix, familiarity with LNG terminology is needed by a growing number of professionals
Global utilities capability statement
The utilities industry is central to economic activity. Global economic growth is dependent on water and power. Delivering sustainable expansion of water and energy provision is a critical challenge to the utilities industry. Massive investment is needed. At the same time, the market, regulatory and customer context of the sector is evolving continually
Carbon market services in China
The Clean Development Mechanism (CDM) presents new business opportunities for many of China's industries such as energy and mining, industrial products and waste management.
Real time. Delivering IFRS in the oil and gas and utilities industries
With many companies at the end of their first full IFRS reporting period, we publish
Real time, which examines the reality of reporting under the new standards for companies in the oil & gas and utilities sectors.
The big leap: Utilities global survey 2006
Once again we go to the heart of boardroom thinking with our comprehensive annual global survey of power utility company leaders around the world.
Under pressure: Utilities global survey 2005
When we conducted our survey last year, security of supply was the number one concern identified by utility companies. That worry is increasing and, with world energy demand rising inexorably, the need to raise capital is pressing. So this year, for the first time ever, we have expanded our utilities global survey to include investors.
Sustainable from the start
Sustainable from the start is a discussion paper that has been developed out of a series of client roundtables we have conducted during FY05 in Europe on the topic of Sarbanes-Oxley 404 compliance by the oil & gas and utility companies.
Utility companies and the domestic manufacturing deductionby Robert Hriszko, Craig F. King, Woody Sharpe and Diana Steele
On January 19 2005, the Treasury Department and the Internal Revenue Service (“IRS”) issued Notice 2005-14 (the “Notice”) and a related Fact Sheet, which provided much anticipated interim guidance under new section 199 of the Internal Revenue Code of 1986 (the “Code”), enacted by the American Jobs Creation Act of 2004 (the “Act”). The IRS and the Treasury Department expect that the regulations will incorporate the rules set forth in the Notice and will be effective for taxable years beginning after December 31 2004, the effective date of section 199.
We are enclosing our analysis of the key provisions of the Notice that will be of special interest to utilities.
Taxation of emissions trading within the EU This publication is of specific relevance for all companies that will have to take part in the European emission trading scheme as of 1 January 2005.
