In September, former European Central Bank (ECB) president Mario Draghi proposed an €800 bn-a-year investment plan targeting, amongst others, clean energy and electric mobility. The report on EU competitiveness demands “radical change” amid growing concern over a massive productivity gap with the United States, where energy costs are significantly lower.

Goldman Sachs Research sees the plan as bullish for utilities while highlighting electrification’s potential to boost European manufacturing competitiveness by stabilising energy costs through a liquid market for renewable power purchase agreements.

Read the full insight here.