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Utilities Line Up to Profit From ‘Slowest Trainwreck’ in History

Sept. 18, 2017, 5:41 PM

The unrelenting plunge of power prices will benefit companies that can withstand new challenges from upstart wind and solar newcomers, according to two of Europe’s biggest utilities.

Only large companies with diverse portfolios and resources will have the weight to compete against renewable projects that sell subsidy-free power to markets, Enel SpA’s Chief Executive Officer Francesco Starace said at the Bloomberg New Energy Finance conference Sept. 18 in London.

“You need to have a diversified portfolio, you need to be able to say, ‘No I don’t like this project, I have another three coming,”’ he said. “If you only have ...