With 67 countries and eight US states now having set net-zero carbon ambitions, the pressure is on for electric utilities companies to turn down the heat on producing power. These companies face transition risks from such incoming policies, as well as from legal, technological and market changes, including consumer appetite for clean electricity.
With electricity demand predicted to increase by 79% by 2050, decarbonisation of the electric utilities sector is crucial for the transition to a low-carbon economy. More than two thirds of electric power is currently generated from combustible fuels. However, resource availability, changing policies and falling technology costs are predicted to drive solar energy’s share of power generation in the coming decades. WBA believes that there is momentum for climate action within the electric utilities sector.
This report presents the scope, industry, methodology and companies for inclusion in our first electric utilities benchmark.