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This paper aims to examine the impact and the link between some key strategic choices and financial performance of energy companies. In fact, in the light of the European energy directives and the related ransformations, it is interesting to analyze how much the financial performance of electricity and gas companies affects some choices related to some main characteristics of companies, and thus their active role.

This study uses data collected from Amadeus, a database from Bureau Van Dyck, to create a sample consisting of an unbalanced panel of annual period series from 2009 to 2017. The sample includes all the electricity and gas limited retailer companies registred in two countries, Italy and the UK. The used method and post-estimations include probit models and as post-estimation marginal effects and matrices of correlation.

Results identify asset turnover (sales revenue/total assets), efficiency of invested capital, as the key drivers of the strategic decisions analyzed (that is being part of a group of companies, the business chosen, the type of country and if they are companies operating in more than one phase). Age, size and headquarter of company are also significant when they are included in a larger model as control variables.

The combination of the analysis of two of the largest European electricity and gas retail markets and inclusion of financial values as performance measures are key contributions of this paper.

This chapter from a brief review of the relevant literature on the energy markets points out the changes in the relationships between energy companies and customers through the Web. The objective is to highlight the changes of the energy markets thanks to the web demonstrating that it is able to ensure the raising of the switching rates and hence the competition, goal of the liberalization of public services. To this end, the authors will use secondary data from Accenture researches about the perceptions of customers and energy companies around the relations established via the web, and the CUAC for the switching mode performed in the State of Victoria in Australia.