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Power producers’ shares rose, though they lagged the broader market as traders shifted back toward higher-risk sectors. Third-quarter earnings updates also pointed to continued confidence among major utilities in demand from large artificial-intelligence projects, according to a longtime sector analyst.
Alex Kania said several companies raised earnings-growth expectations or extended their outlooks, suggesting that anticipated growth was beginning to materialize. The industry is still in the early stages, he said, and companies must now deliver on those expectations.
Separately, investment firm KKR and German renewable energy producer RWE plan to invest about $16 billion jointly in U.K. offshore wind projects.
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