Well, even though I'm pretty sure the word has different meaning over there I will say this much.
If my electric company had a name like that, I'd make sure to pay the bill on time because I'd hate to find out what their method of collection might be.
And besides, the Italian company is not a "power company" as the thread title (and the urban legend) indicates. It is a battery manufacturer. They should probably add a hyphen, but they also should probably retain the URL and have it redirected to powergen-italia so that people who are guessing what the URL is will still hit their site.