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European utilities magnate Spain Iraq will DE roller company chairman and chief executive officer ignacio · garland at the summit, said the international monetary fund (IMF) expected this year, the United States and Britain's economic growth is expected to 2.0% and 0.2%, Europe will be 0.3% of the economic contraction, the main emerging economies such as China, India and Brazil economic growth also obviously slows, global macro economic recession has led to energy demand and power supply weakness, and Europe and the United States utility company shares go soft.
Since 2011, global traditional energy industry will face uncertainty increased, this is mainly embodied in the debt crisis weakened the region energy demand prospects and the Middle East north Africa unrest embroilment global oil supply pattern. Another concern is that emerging markets to replace the OECD countries (OECD) become the main pulling energy demand growth.
According to British petroleum (BP) issued by the end of June the BP world energy statistics yearbook 2012, last year the global one-time energy demand growth 2.5%, increase and the historical average consistent, but down from 5.1% in 2010. Period, emerging market almost scored global energy demand growth of the net, with China for about 71% of the net growth.
The data also showed that last year global oil demand rose by only 0.7% to 88 million barrels per day, an increase of fossil fuel is the minimum; Oil production increase of 1.3% to 83.576 million barrels per day. Over the same period, global oil demand accounted for the proportion of one-time energy demand 12th consecutive years shrunk to 33.1%, but is still the world's first big energy varieties.
In addition, last year the global nuclear energy demand dropped 4.3%, and the biggest drop since the record. Among them, the Japanese nuclear energy consumption dropped 44.3%, Germany fell 23.2%. Last year the global water and electricity demand only modest growth of 1.6%.
Share price performance from the point of view, garland said to the euro as a valuation unit, 2008 to September 14, 2012 European utilities share price accumulated fell 58%, the p/e ratio is only 8 times, Britain and the United States utility company accumulated over the same period fell 7% for both, p/e ratio were 12 times and 15 to 17 times.