This paper explains the development of business opportunities of the industry at the turn of the century as seen by a leading management consulting firm. There is a fundamental basic change the electricity industry is going through: deregulation and liberalization spreading all over Europe at a breathtaking speed. They change market structures and the behaviour of companies in these markets. They will affect market shares and company earnings. To be added are external shocks which will fundamentally change this industrial branch. This change offers great possibilities, but also involves considerable risks. On the whole, financial markets expect a negative influence.
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