Switched On

Europe’s energy shocks have exposed the cost of energy dependence. The loss of Russian gas accelerated investment in renewables and liquefied natural gas, but high prices, infrastructure bottlenecks and new import dependencies remain. Greater electrification could improve resilience by making better use of domestic power and flexible technologies. But high costs still weigh on industry. So can Europe turn energy resilience into a competitive advantage?
At the BloombergNEF Summit London, Oliver Metcalfe, BNEF’s head of European research, moderated a panel titled “Reshaping Europe’s Strategic Future.” This episode brings listeners that panel, which featured BASF’s Matthias Dohrn, Octopus Energy Group’s Greg Jackson, JP Morgan’s Hannes Kofler, and SSE’s Deepa Venkateswaran.
Today’s episode was recorded live at the BNEF Summit London. To learn more about our Summits and to listen to more interviews, please visit https://about.bnef.com/summit/
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The economics of heating your home are shifting. Whether a heat pump saves money increasingly depends on what heats your home, where you live and when you use electricity. Heating oil prices have surged to a two-decade high in the US, EU and UK, dramatically improving the economics of switching for some households, while changes to electricity tariffs can make heat pumps cheaper to run. With fossil-fuel prices volatile and power systems changing, electric heating is becoming more competitive. So where do heat pumps now make financial sense, and what could make them more attractive? On today’s show, Kamala Schelling is joined by Yara van Ingen, an associate from BloombergNEF’s tech, industry & innovation team, to discuss some of her notes, including “Heating Oil Spike Opens Market for More Heat Pumps,” and “French Heat Pump Owners Gain From Cheaper Midday Power.”
Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com
Links to research notes from this episode:
Heating Oil Spike Opens Market for More Heat Pumps - https://www.bnef.com/shorts/tmxz2dt96osp00
French Heat Pump Owners Gain From Cheaper Midday Power - https://www.bnef.com/shorts/tmxxyvkk3nye00
Gas Price Spike Still Too Mild to Drive Heat Pump Surge - https://www.bnef.com/shorts/texo3ukk3ny900
Heat Pump Market Outlook 2026: Blip, Not Bust - https://www.bnef.com/insights/39389
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Gas turbines are a hot topic. Orders for this critical piece of infrastructure are surging alongside rising power demand and the need to refurbish aging power plants. Data centers are adding urgency, particularly in the US, and scarce delivery slots are pushing prices higher. Manufacturers are expanding production, but past overcapacity is keeping them cautious about chasing today’s demand too aggressively. So how long can the boom last? And can manufacturers capitalize on the gas turbine boom without overplaying their hand? On today’s show, Tom Rowlands-Rees is joined by BNEF global gas specialist Atin Jain to discuss findings from some of his research, including “Global Gas Turbine Order Trends 1H 2026: Records Shattered” and “Global Gas Turbine Manufacturing Outlook: Crunch, for Now.”
Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com
Links to research notes from this episode:
Global Gas Turbine Order Trends 1H 2026: Records Shattered - https://www.bnef.com/insights/40519
US Data Center Gas Demand Outlook 2026-2035 - https://www.bnef.com/insights/40383
Global Gas Turbine Manufacturing Outlook: Crunch, for Now - https://www.bnef.com/insights/40247
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Europe’s power mix is changing fast. Ample output from wind, solar and nuclear means that northwest Europe could require significantly less power from fossil fuels this winter than last. At the same time, rising electricity demand from EVs and data centers is shifting market dynamics across Europe, creating new opportunities for technologies like solar and batteries. So how are Europe’s power markets evolving, and what does that mean for prices and investment? On today’s show, Tom Rowlands-Rees is joined by Arhnue Tan from BNEF’s European power team to discuss findings from some of her team’s notes, including “European Power Monthly October 2026: Renewables Retreat,” “European Power Winter Outlook: Cleaner Mix,” and a series of outlooks covering individual power markets across Europe, which we’ve hyperlinked below.
Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com
Links to research notes from this episode:
European Power Monthly October 2026: Renewables Retreat - https://www.bnef.com/insights/40545
European Power Winter Outlook: Cleaner Mix - https://www.bnef.com/insights/40431
Germany Power Market Outlook 2026: Batteries Versus Gas - https://www.bnef.com/insights/40407
Italy Power Market Outlook 2026: Renewables Edge Out Gas - https://www.bnef.com/insights/40373
Nordic Power Markets: Demand Outlook - https://www.bnef.com/insights/39425
France Power Market Outlook 2026: Price High, Supply Ample - https://www.bnef.com/insights/39197
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The energy transition is reshaping how companies make money. BNEF’s new Transition Risk and Opportunities Outlook models revenues for more than 70,000 companies as demand shifts across energy, transport and commodities. Businesses exposed to renewables, grids, EVs and transition metals could benefit, while others may face shrinking markets and rising carbon costs. So which companies are positioned to capture new opportunities, and which are most exposed to the transition? On today’s show, Kamala Schelling is joined by BloombergNEF finance policy and transition risk specialist Maia Mesanger and transition risk and alignment analyst Estella Agyepong to discuss their note “Transition Risk and Opportunity Outlook 2026.”
Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com
Links to research notes from this episode:
Transition Risk and Opportunity Outlook 2026 - https://www.bnef.com/insights/40403
See omnystudio.com/listener for privacy information.