Isn concentration inevitable in a market that needs large capital investments?
It does not necessarily take very large companies to make investments in this sector. In fact, it is not the largest companies that have invested the most in new generation facilities in the past few years. For instance, for gas-fired plants, much of the capacity has been created by more mid-size companies, such as the various generators in the U.K. and the competitors of the incumbent in Italy. And in the nuclear sector, the only build-out currently under way is made by the one of the smallest operators of nuclear plants, not by the larger operators.
