As per the International Energy Agency (IEA), global electricity consumption is set to rise rapidly in the coming years due to an acceleration of electrification of transport, growing industrial production and proliferation of AI data centres. These consume a lot of electricity and require a reliable, uninterruptible, continuously available and stable source of electricity. In  response to this demand, interest in cheaper and more climate-considerate sources of energies (wind, solar and nuclear) is increasing.

The global Utilities sector is one of the sectors most impacted by this structural increase in electricity demand. Note too the superior long-term performance of this defensive sector over time: over the last 25 years, the US and EU Utilities sectors have both outperformed the broader S&P 500 and STOXX Europe indices respectively.