Since the FSB Task Force on Climate-related Financial Disclosures (FSB TCFD) published its recommendations, there has been a greater emphasis on scenario analysis to assess the opportunities and risks from measures taken to limit global warming. Building on our Investor primer to scenario analysis, this report has two climate scenarios for the utilities sector, and specifically for Engie, ENEL, and EDF. We demonstrate the implications for these companies’ valuations in using two examplary strategic choices. We provide insights in company engagement and financial performance with their regional and technology contributors as well as sensitivities. You can read the report here.