Goldman Sachs urges Europe to boost power investments
Goldman Sachs forecasts that Europe will need investments ranging from 2.2 trillion euros to 3.5 trillion euros over the next decade in electricity grids and systems to keep up with the demand driven by the spread of electric vehicles, artificial intelligence applications, and the expanded use of renewable energy. These investments are expected to lead to an increase in electricity bills of about 2% annually under the main scenario, while the rise could reach 4% if the adoption of energy technology accelerates. However, the impact on inflation is expected to be limited, and some of the costs will be offset through electricity charges. Additionally, projections indicate that countries like Germany and the United Kingdom may see annual increases in electricity bills ranging from 5% to 8%, with utility companies benefiting from a strong profit cycle and an annual profit growth of nearly 14% until 2030.
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