The Big Names in European Utility Scene

By firmly expanding their presence in the renewable energy sector, most of the top utility companies aim to be the world’s largest energy producers (outside of China). And it seems to work. Here are the top utility companies in Europe, their value and what they are up to.


The Italian company ranks number one in its country and in Europe in terms of market size and revenue. Raking in annual revenue of 73,775 Million USD and a net income of 2,544 Million USD. It saw one of its highest increases in the market at 14.8% year-over-year. IN terms of customer bases, it is the largest in Europe as of date, with 70 million customers worldwide (64 million consuming its electricity, and 6 million in the gas market). With its pledge to triple renewable capacity by 2030, Enel might keep its top spot for years to come.


With a market cap of 65 billion USD, Iberdrola is the second largest company in Europe. As of 2021, it has an annual revenue of 42,987 Million USD and an income of 3,978 Million USD. its market cap grew by 33% within the past year. The Spanish utility company plans to boost its renewable energy hold in the coming years to increase its customer base of 43.8 billion to 70 million by 2030.

Ørsted A/S

The Danish company formerly DONG Energy records annual revenue of 9,584 Million USD and a net income of 1,040 Million USD. The company is the world’s largest developer of offshore wind power accounting is valued at $49.3 billion. One of its Dutch wind farms, popularly known as Borssele 1&2, with over 94 turbines, supplies renewable energy to one million Dutch households. And this is just one of their 40+ wind farms in the US, Europe, and Taiwan.


Accumulating an annual Revenue of 84,154 Million USD and an income of 5,342 Million USD, the EDF or Électricité de France S.A. has big plans in store for its European market. EDF Renewables recently signed their ninth renewable power purchase agreement (in three years) with OVHcloud, a cloud service provider. Residential accounts alone cross 4.8 million customers, according to EDF’s 2020 results. The French multinational company is currently valued at $45 billion.

National Grid

The UK-based National Grid tallied an annual revenue of 20,065 Million USD and a net income of 1,733 Million USD. The National Grid counts for 20 million customers in the US and approximately 11 million customers in the UK. They recently showed a surge in profit with a market cap of $50.11 Billion. They had significantly higher revenues too coming in from sub-sea cables and with the acquisition of Western Power Distribution.


The French multinational company has an annual revenue of 60,050 Million USD and rings in a net income of 820 Million USD. As per their plan to be Net Zero Carbon company by 2045, they will amp up their renewable annual growth to 4 GW in 2022-25 and 6 GW by 2030. All these have given them a slight market edge, ending December 2021 at a market cap of $35.22 Billion.

Verbund AG

Probably the largest year-over-year increase in this list, the Austrian utility VERBUND AG saw a 81.3% by the end of 2019 at 16.82 billion USD (€14.86 billion). The company’s power generation capacity is mostly hydroelectric and plentiful water supplies and higher prices in both the spot and futures wholesale power markets did the trick. Currently, they are ranked 11th in market cap and have a market capitalisation of €m 30,468.


Energie Baden-Württemberg AG, saw its year-over-year market cap increase 20.6% to 9.69 billion USD (€8.56 billion). They rake in annual revenue of 22,143 million USD and an income of 859 Million USD. Following the plan of Germany’s renewable power transition by 2038, EnBW has gained solar and wind developer Groupe VALECO and their overall market value is at $23.66 Billion.

Fortum Oyj

The Finnish state-owned energy company has recorded positive growth during the pandemic and their income statement stands at 55 million USD (€49.01 million) with a market cap of €23.58billion. Currently, there are 2.3 lakh direct customers, which they plan to increase in the coming years. With their subsidiary Uniper, they have become the third-largest producer of CO2-free electricity in Europe.

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