The global electricity leaders are headquartered in Europe: France’s EDF, Italy’s Enel, Germany’s E.ON, and Spain’s Iberdrola are among the 10
. Their presence in the international electricity market and their involvement in the energy transition reinforce their status quo in the global energy landscape. With a growing clean energy mix, European energy companies are committed to renewable energy development in the region and the globe.
Multinational electricity companies in Europe
Although the headquarters of EDF, Enel, E.ON, and Iberdrola are located in Paris (France), Rome (Italy), Essen (Germany), and Bilbao (Spain), respectively, these multinational firms also operate outside the borders of their countries. In 2023,
EDF’s regional revenue figures showed that 60 percent was generated in France, while the remaining share came from the production and supply of electricity in the rest of the world. In Europe for instance, EDF owns EDF Energy in the United Kingdom (since 2009, previously called British Energy), Edison S.p.A. (one of the
main electricity providers in Italy, acquired by EDF in 2012), roughly 65 percent of the Belgian Luminus (bought by EDF between 2009 and 2011), and 70 percent of the French Electricité de Strasbourg and Dalkia. EDF also has branches in Germany, Spain, and Portugal. Another European electricity company with a worldwide presence is Enel. Its subsidiaries include one of the largest electric utilities in Spain, Endesa, majority-owned by Enel since 2009. EDF and Enel are also present in South America, Asia, and Africa.
Liberalization of the electricity market in the European Union
The EU has been working towards the liberalization of the energy market since the late 1990s, removing state-regulated country-based monopolies and trade barriers to increase competition. In a free European market, customers will purchase energy at market-regulated prices after freely choosing their supplier. Germany was one of the first countries to liberalize its energy market before 2000. In contrast, the
share of electricity supply at regulated tariffs in France was 60 percent in 2023. EDF is the main provider of electricity within the regulated market. In Italy, the
volume of electricity sold at regulated tariffs has decreased exponentially over the past few years, and the Italian government plans to achieve a complete liberalization of the electricity market by 2024.
Renewable energy transition
Following the EU’s energy and climate policy, the region’s major power players are investing in renewable technology. Iberdrola and Vestas were Europe’s
leading renewable energy companies based on revenue as of 2023, both at the forefront of wind energy production. In recent years,
expenditure on low-carbon technologies by power companies has been increasing worldwide, an indication of a reconversion of major energy utilities from conventional to renewable energy sources.
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