European utilities have entered a period of renewed investor interest, supported by structural tailwinds from electrification, grid expansion, and rapidly growing data centre demand. The sector has seen a sharp rerating since mid-September, as the market increasingly prices in long-term electricity demand growth linked to AI and hyperscale computing. Yet Ørsted has remained on the sidelines, constrained by its offshore wind focus and recent sector-specific challenges. In our view, the company co ....
