SSE PLC

SSE: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 4,942.00	Xjb	Pwqjpjqr

European Utilities Edged Up in Q2 on Soaring Power Prices, High Interest Rates Still a Drag

Tancrede Fulop

Jun 13, 2024

Utilities have reversed part of their first quarter’s fall, thanks to a strong rebound in power prices. Moreover, the deep undervaluation of renewables developers has driven takeovers by big investment firms at very high multiples. Neoen’s main shareholders accepted an offer at 18 times the EBITDA. The sector is still significantly lagging the market in 2024 because of high interest rates. Should they fall, it would boost the sector.

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