Abstract
Overview
Introduction
Global market liberalisation in gas and power continues apace, as investment
activity is set to peak in the US and EU. Several large markets are set for
retail market opening in 2007 while liberalisation continues in most
developing markets, even if only in the gas and power generation sectors. The
EU will re-emerge as the world's utility M&A hotspot.
Scope
- A projection of key M&A trends in 2007, the factors driving deals, and M&A
hotspots.
- A projection of the challenges and the opportunities in certain
liberalizing jurisdictions.
- A review of global market openings.
Highlights
Federal states such as the U.S., Canada and Australia have left the decision
to open up full retail competition to the state / provincial level of
government. Developing nations such as Brazil and India have restarted
liberalization measures, though reforms are stalling.
In India, investment in 2007 may be open at all levels of the value chain.
High levels of debt by state electricity boards (mandated power purchasers)
may be resolved, to facilitate IPPs. State
generation/transmission/distribution companies may finally be unbundled in
accordance with 2003 legislation.
Legislative changes in the U.S. will begin to boost M&A and investment in
energy networks in 2007. Partly in response to the August 2003 blackout, the
Environmental Policy Act 2005 removed onerous approval and reporting
conditions imposed on foreign and non-utility companies investing in U.S.
energy businesses.
Reasons to Purchase
- Understand how energy sector liberalization is progressing in different
markets, including the challenging faced in some jurisdictions.
- Understand key factors influencing M&A deals in 2007.
- Project the intensity of M&A activity in major markets.
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