LONDON, Feb. 28, 2013 /PRNewswire/ -- More than 100 power utility companies and consultancies in Europe identified regulatory risk and weak wholesale power prices as the greatest challenges facing the industry, according to a recent survey conducted by Platts, a leading global energy, petrochemical and metals information provider.
Insufficient network development and fuel price risk were also noted as need-to-resolve challenges to the electric utility companies, many of which will attend the fourth annual Platts European Power Generation Conference in Dusseldorf, Germany on April 22-23.
"The survey reveals a wide spectrum of opinion in a sector struggling on several fronts," said Henry Edwardes-Evans, editor, Platts Power in Europe. "Some respondents believe the industry is adequately equipped to meet power needs, while others believe West Europe is heading for a perfect storm driven by ageing infrastructure, supply volatility of renewables and accelerated nuclear closures."
Nearly half of those surveyed said that new conventional power plants are needed in the next three years, particularly in the U.K., Germany and Belgium. Respondents also called for new plants to be built in France within the next five years and in Italy, Ireland and Switzerland within the next 10 years.
"When we asked how these plants might be financed, most of those surveyed thought some form of central, regulated support would be needed," said Edwardes-Evans, who will chair the upcoming Platts European Power Generation Conference. "Hardly anyone thought wholesale markets alone would provide sufficient revenue for the infrastructure build."
These and other topics will be discussed in depth at the two-day Platts European Power Generation Conference, with the focus theme "European Power: Timing the Tipping Point." Speakers from RWE, E.ON, Vattenfall, Enel, DONG Energy, ESBI and Brightsource Energy, among others, will address the latest trends and developments across varying types of power generation – from conventional, to renewables and biomass, to large scale low-carbon generation – as well as market design and issues around infrastructure investment. See the full conference agenda for details.
Corporate and industry executives may register to attend the Platts European Power Generation Conference at the general registration link. Accredited media may attend the conference as guests of Platts by pre-registering at this link.
About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets. A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.
About The McGraw-Hill Companies: The McGraw-Hill Companies (NYSE: MHP), a financial intelligence and education company, signed an agreement to sell its McGraw-Hill Education business to investment funds affiliated with Apollo Global Management, LLC in November 2012. Following the sale closing, expected in early 2013, the Company will be renamed McGraw Hill Financial (subject to shareholder approval) and will be a powerhouse in benchmarks, content and analytics for the global capital and commodity markets. The Company's leading brands will include: Standard & Poor's, S&P Capital IQ, S&P Dow Jones Indices, Platts, Crisil, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Company will have approximately 17,000 employees in more than 30 countries. Additional information is available at www.mcgraw-hill.com.