European utilities face 'perfect storm', says Engie's Cirelli
Utility giants already in deep trouble, warns former CEO of Gaz de France
European utilities face a "perfect storm" amid the continent's economic woes, a surge in renewable generation and advances in technology, warned Jean-François Cirelli, the former chairman and chief executive of Gaz de France (GDF), speaking at Energy Risk Summit Europe on June 24.
At the London conference, Cirelli – who now serves as special adviser to the presidency at GDF's successor company Engie – offered a downbeat assessment of the European utility sector. "Let's admit: it has taken energy
More on Energy transition
Energy Risk Debates: Ercot’s RTC+B market design
Six months into this significant structural reform, the panellists talk about experiences so far
Deal of the year: ENGIE and Return’s virtual FPA
Energy Risk Awards 2026: Virtual battery portfolio deal provides a template for scaling battery storage across Europe
Environmental products house of the year: Marex
Energy Risk Awards 2026: Marex sees opportunity for environmental commodities in the latest energy crisis
Electricity house of the year: ENGIE
Energy Risk Awards 2026: ENGIE is doubling down on the energy transition, with a push into batteries and 24/7 carbon-free electricity
Newcomer of the year: Abaxx Exchange
Energy Risk Awards 2026: New exchange sets out to modernise commodity derivatives by aligning them to physical markets
Abaxx: meeting the need for new commodity derivatives
Abaxx revamps commodity hedging with a suite of modern contracts
Energy Risk Debates: risk management in the clean energy space
Panellists discuss the unique issues facing firms in renewables, clean energy and carbon markets
ENGIE’s Daronnat: pricing flexibility in the German battery market
Head of flexibility and structured origination in Germany discusses the role of FPAs and what risk teams must consider
