Published on 27 Mar 2023 on Insider Monkey via Yahoo Finance

20 Biggest Power Generation Companies in the World

In this article, we will be taking a look at the 20 biggest power generation companies in the world. To skip our detailed analysis, you can go directly to see the 5 biggest power generation companies in the world.

Consistent generation and supply of power is absolutely integral to the development of any economy, and is one of the primary factors behind industrialization and the growth of Western economies. While just the 20 biggest power generation companies in the world earn annual revenues exceeding $2 trillion, their indirect contribution is even more significant as power supply is the backbone for the vast majority of industries across all sectors, across the world.

Despite its importance, 2022 was not a very good year for the power and utility sector generally, but in the U.S., sales still continued to increase as demand jumped with the country mostly recovering from the Covid-19 pandemic. However, even though revenues increased significantly because of the aforementioned demand, costs increased even more as a result of the Russian invasion of Ukraine, which led to energy supplies being depleted and prices more than doubling. Meanwhile, grid resilience is continuing to be tested from catastrophic climate events, one of the biggest global risks for 2023. To combat this issue, the biggest players in the industry, including some of the biggest power generation companies in the world, improved their reserves, deployed microgrids and worked on improving their infrastructure as well.