欧州のエネルギーセクターのパフォーマンス – その要因は？

Could it be that the 'transition' itself requires a lot of traditional energy infrastructure to support it in the interim? We still need power for manufacturing renewables.

Good question. I'm leaning more towards a short-term geopolitical bounce. The long-term trend away from fossil fuels hasn't fundamentally changed, just paused or diverted slightly.

I think it's a mix of both. The geopolitical premium is definitely a factor, but don't underestimate the pricing power many of these utilities still hold, even with the transition.