Capital efficiency

Capital Management: The Missing Performance Driver

Does your company measure up?

Few companies achieve sustainable high performance. Markets change but companies fail to adapt, and investors are unforgiving. Utilities, and new entrants, learned this lesson during the first competitive market cycle of the late 1990s and early 2000s, when few companies sustained a high-performance leadership.

Vertical Integration: Necessity or Distraction?

An analysis of the latest wave of unbundling, re-bundling, and convergence plays in the gas-power industries.

In any industry, companies must choose a portfolio of assets and businesses to own along a value chain. In doing so, they make an implicit trade-off between the benefits of focus and vertical integration.