Will liberalisation in Europe put an end to the municipal owned sector?

With over 2,500 utilities preparing themselves for the liberalisation of the energy markets across Europe, there is a great expectation that this will lead to a significant amount of consolidation over the next few years. Many small and medium size players are expected to merge or sell out to a bigger domestic or foreign player. Whilst many of the larger players have announced cost cutting programs, the smaller utilities, in particular the municipal owned sector, face an uncertain future. Simon Allen, Mats Edvinsson, Jorma Kurra & Ivar Sagemo PricewaterhouseCoopers