E.ON
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| Type | Public (FWB: EOAN) |
|---|---|
| Founded | 2000 |
| Headquarters | Düsseldorf, Germany |
| Area served | Europe, United States |
| Key people | Wulf H. Bernotat (CEO and Chairman of the executive board), Ulrich Hartmann (Chairman of the supervisory board), Johannes Teyssen (CEO designate (from 1st May 2010)) |
| Industry | Utilities, energy |
| Products | Electricity generation and distribution, renewable energy, natural gas exploration, production, transportation and distribution |
| Revenue | €86.75 billion (2008)[1] |
| Operating income | ▲ €4.946 billion (2008)[1] |
| Profit | ▲ €1.266 billion (2008)[1] |
| Total assets | ▲ € 157.05 billion (2008)[1] |
| Total equity | ▼ € 34.47 billion (2008)[1] |
| Employees | 93,540 (2008)[1] |
| Website | www.eon.com |
E.ON AG (FWB: EOAN), an energy corporation based in Düsseldorf, Germany, is one of the 30 members of the DAX stock index of major German companies and a member of the Global Titans 50 index. Its chief executive officer (Vorstandsvorsitzender) is Dr. Wulf H. Bernotat. The name comes from the Greek word aeon.[2]
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[edit] History
The Company came into existence in 2000 through the merger of energy companies VEBA and VIAG. In the UK, Powergen was eventually taken over itself by E.ON, an acquisition which was completed in January 2002.[3] In 2003 E.ON entered the gas market through the acquisition of Ruhrgas (now E.ON Ruhrgas). E.ON Ruhrgas is represented in more than 20 countries in Europe.[4]
E.ON has acquired Sydkraft in Sweden, OGK-4 in Russia and Powergen in the United Kingdom. Sydkraft and Powergen have now been rebranded to E.ON Sverige and E.ON UK respectively. In the United States, E.ON has renamed LG&E Energy, which it inherited via the acquisition of Powergen, to E.ON US, and is headquartered in Louisville, Kentucky.
E.ON attempted to acquire Endesa in 2006, however this acquisition was overtaken by a joint bid from Italian utility Enel in conjunction with Spanish company Acciona. E.ON did however acquire about €10 billion of assets that the enlarged Enel was required to divest under EU competition rulings.[5]
In July 2009, the European Commission fined GDF Suez and E.ON €553 million both over arrangements on the MEGAL pipeline.[6][7] It was the second biggest fines imposed by the European Commission and first one on the energy sector.[6][8] In 1975, Ruhrgas and Gaz de France concluded a deal according to which they agreed not to sell gas in each other's home market. The deal was abandoned in 2005.[6]
In 2009, E.ON and RWE established an equally owned joint venture Horizon Nuclear Power to develop around 6,000 MWe of new nuclear capacity in the United Kingdom by 2025. Horizon Nuclear Power is headquartered near Gloucester, and it operates since 16 November 2009.[9]
[edit] Operations
E.ON is one of the major public utility companies in Europe and the world's largest investor-owned energy service provider. As result of mergers, E.ON inherited the subsidiaries of VEBA, VIAG and Ruhrgas in Central and Eastern Europe. It is also present in Russia, where it has a stake in the natural gas company Gazprom (6.4%) and control of the generation company OGK-4. E.ON is present in most of Scandinavia.
[edit] Market units
Currently, E.ON is organized in ten market units:
- Central Europe Market Unit led by Munich-based E.ON Energie AG
- Pan-European Gas Market Unit led by Essen-based E.ON Ruhrgas
- Spain Market Unit led by Madrid-based E.ON España
- Nordic Market Unit led by Malmö-based E.ON Sverige, which supplies power in Scandinavia
- U.K. Market Unit led by Coventry-based E.ON UK
- Italy Market Unit led by Milan-based E.ON Italia
- Russia Market Unit led by Moscow-based E.ON Russia Power
- U.S. Midwest Market Unitled by Louisville-based E.ON US
- Climate & Renewables Market Unit led by Düsseldorf-based E.ON Climate & Renewables
- Energy Trading Market Unit by Düsseldorf-based E.ON Energy Trading
[edit] Environmental projects
E.ON's UK arm, E.ON UK, owns 50% of the London Array project, which is a very large wind generation scheme that will be built in the Thames estuary. E.ON open a windfarm off the coast of Cornwall in 2008 and had, during Autumn and Summer 2007, been running "Wind of Change" adverts on British TV networks; the main advert was filmed in the English seaside town of Broadstairs.
[edit] Financial data
| Années | 2002 | 2003 | 2004 | 2005 | 2006 |
|---|---|---|---|---|---|
| Sales | 37 059 | 46 363 | 49 103 | 56 399 | 67 759 |
| EBITDA | 7 680 | 9 458 | 10 520 | 10 272 | 11 353 |
| Net results | 2 777 | 4 647 | 4 339 | 7 407 | 5 057 |
| Net debt | 13 979 | 7 855 | 5 483 | -3 863 | -268 |
| Staff | 107 856 | 66 549 | 69 710 | 79 947 | 80 612 |
- Source: OpesC
[edit] Sponsorship
In February 2006 it was announced that E.ON UK would sponsor the FA Cup. The four-year deal which included the FA Women's Cup and the FA Youth Cup is worth around £40 million. E.ON are also the official energy partner of The Football League and now also sponsor a collection of home programmes on Channel Five in the UK. E.ON have previously sponsored ITV Weather, the Ipswich Town football club and the Rugby Cup.
Between 2000 and 2006, E.ON were the main kit sponsor of German Bundesliga club Borussia Dortmund.
E.ON Ruhrgas are the main sponsors of the IBU biathlon[when?] World Cup and are the main sponsors of the Ski jumping World Cup[when?].
E.ON Sverige has sponsored the home arena of Swedish ice hockey team Timrå IK since 2003.
E.ON were one of the main sponsors of 2007-2008 Dutch Eredivisie Champions PSV Eindhoven.
[edit] Criticism
The company has come up against heavy criticism for its plans to build a new coal power station to replace its current facility at Kingsnorth, Kent in the UK. This would be the first new coal power station in the UK in 30 years.[10]
According to a report published by Carbon Market Data [11], E.ON was in 2008 the second biggest emitter of CO2 in Europe (with about 108 million tCO2 emitted).
[edit] Facilities
- Elbe Crossing 1
- Elbe Crossing 2
- GKK Etzenricht
- Baltic-Cable ( operated in cooperation with Baltic-Cable AB)
[edit] See also
[edit] References
- ^ a b c d e f "Annual Report 2008". E.ON. http://www.eon.com/en/downloads/Financial_Report_2008_EN.pdf. Retrieved 2009-03-14.
- ^ E.ON: Many Companies, One Brand
- ^ E.ON to buy Powergen
- ^ German utility E.ON buys Ruhrgas
- ^ E.ON drops out of Endesa fight
- ^ a b c Nikki Tait (2009-07-08). "Brussels fines GDF and Eon €1.1bn". Financial Times. http://www.ft.com/cms/s/0/3bc0a53c-6b9f-11de-9320-00144feabdc0.html. Retrieved 2009-07-08.
- ^ Adam Mitchell (2009-07-08). "GDF Suez: To Appeal EU Antitrust Decision On Pipeline". The Wall Street Journal. http://online.wsj.com/article/BT-CO-20090708-703945.html. Retrieved 2009-07-08.
- ^ Ian Traynor (2009-07-08). "Brussels levies €1.1bn fine on gas pact pair". The Guardian. http://www.guardian.co.uk/business/2009/jul/08/gas-company-fines-european-commission. Retrieved 2009-07-08.
- ^ "Horizon clear for EOn, RWE joint venture". World Nuclear News. 2009-11-06. http://www.world-nuclear-news.org/C-Horizon_clear_for_EOn_RWE_joint_venture-0611094.html. Retrieved 2009-11-08.
- ^ No new coal
- ^ EU ETS Company Rankings
[edit] External links
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Wikimedia Commons has media related to: E.ON |
- E.ON Global site (in German and English)
- E.ON Energie (Market Unit Central Europe) (in German and English)
- Anti-nuclear activists needle German power giant's annual general meeting
- e.on f.off
- nonewcoal.org
- Nasa expert meets Kingsnorth duo
- Al Gore encourages civil disobedience against Coal Fired Power Stations
[edit] Video clips
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