Energetyka/ przedsiębiorstwa użyteczności publicznej

Since energy supply is a fundamental issue to a country, utility companies are subject to governmental supervision through cartel offices. A movement of separation, unbundling the monopoly parts of the utilities sector including energy generation and distribution, is currently shaking the industry in Europe.

Recently, high energy prices coupled with divestments in non-core activities have led to excess cash which is for the most part used in the form of increased mergers and acquisition activity. Various major business combinations in the European utilities sector have put the issue of national champions back on the agenda, creating a pent-up situation of conflict between free markets and protectionism, which includes state-sponsored merger activity.

In this situation of change, cross-border transactions in the utilities sector have gained in importance for both German and foreign corporations. This leads to an internationalization of the European utilities industry with further merger potential. The privatization and liberalization programs within the power markets in Central & Eastern Europe largely contribute to increased merger activity, as well.

Furthermore, the renewable energy sector is met with increasing interest due to concerns regarding climate change and future energy security. At the early stage of this subsector, addition to capacity and tapping new markets through mergers and acquisition is strategically very prudent.

In this fast-paced environment, a competent and prudent valuation and consulting partner is necessary. American Appraisal has successfully established itself as a main player for valuation services and transaction consulting in the large-scale utilities sector.