Publisher Summary This chapter explores patterns of strategic configuration and performance in European energy companies based on a statistical analysis of fifty firms; taking the strategic options and theoretical perspectives on drivers of strategic configuration as a point of departure. One of the remarkable features of the structural configuration of European Energy industry is the pluralism of forms and engagements, which seems to contradict the strongly formulated universal production and transaction cost hypothesis. The chapter reviews at the largest electricity and gas companies in selected North and West European countries with significant presence in their national market. Vertical integration for electricity firms is calculated as the ratio of generation to supply or of supply to generation. For gas firms, the vertical integration ratio includes the ratio for generation to supply and control over transport and wholesale. Finally, the chapter highlights that nation and industry-specific factors continue to play a major role supplemented by strategic moves towards oligopoly positions as well as probably a considerable portion of capability-driven economic organization.