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E.ON headquarters in Düsseldorf
|Type||Societas Europaea (SE)|
|Traded as||FWB: EOAN
|Key people||Johannes Teyssen (CEO and Chairman of the executive board)
Werner Wenning (Chairman of the supervisory board)
|Services||Electricity generation and distribution
natural gas exploration, production, transportation and distribution
|Revenue||€112.954 billion (2011)|
|Operating income||€5.438 billion (2011)|
|Profit||−€1.861 billion (2011)|
|Total assets||€152.872 billion (2011)|
|Total equity||€39.613 billion (end 2011)|
|Employees||78,889 (end 2011)|
E.ON SE (formerly E.ON AG), marketed with an interpunct as E·ON, is a European holding company based in Düsseldorf, North Rhine-Westphalia, Germany. It runs one of the world's largest investor-owned electric utility service providers. The name comes from the Greek word aeon which means eternity.
It operates in over 30 countries and serves over 26 million customers. It 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 Johannes Teyssen.
The company came into existence in 2000 through the merger of energy companies VEBA and VIAG. In the United Kingdom, Powergen was acquired by E.ON in January 2002. 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.
E.ON also acquired Sydkraft in Sweden and OGK-4 in Russia. Sydkraft and Powergen were rebranded to E.ON Sverige and E.ON UK respectively. In the United States, E.ON inherited Louisville, Kentucky-based LG&E Energy, via the acquisition of Powergen, and operated it as E.ON US, until 2010, when E.ON US was sold to Pennsylvania-based PPL for $7.625 billion. The sale was closed on 1 November 2010, with E-ON US becoming LG&E and KU Energy.
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 acquired about €10 billion of assets that the enlarged Enel was required to divest under EU competition rulings.
Its trading arm E.ON Energy Trading SE was founded in 2008.
In July 2009, the European Commission fined GDF Suez and E.ON €553 million both over arrangements on the MEGAL pipeline. It was the second biggest fines imposed by the European Commission and first one on the energy sector. 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.
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 at the Wylfa and Oldbury sites. However in March 2012 E.ON and RWE announced they were pulling out of the project due to difficult financial conditions.
In August 2011, the company has announced that a possibility jobs cut of 10,000 of its 85,600 employees due to the German decision to close all the country's nuclear power stations by 2022, instead of in 2036 as originally planned.
As a result E.ON developed an enhancement program to reorganize the company. The company made progress in implementing its strategy and will increase its activities in growth markets outside Europe. The next step is to enter the Brazilian market.
In May 2014 the UK energy sector regular Ofgem ordered the company to pay 330,000 of its customers a total sum of £12 million due to poor sales practices the company engaged in between June 2010 and December 2013. At the time it was the largest penalty levied against a UK energy supplier.
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 controls the generation company OGK-4. E.ON is present in most of Scandinavia.
E.ON is organized into the following business areas:
- Power generation
- Exploration and production
- Gas supply and production
- Gas storage and transport
- Brokdorf Nuclear Power Plant (Vattenfall Europe Nuclear Energy GmbH owns 20% and E.ON 80%).
- Emsland Nuclear Power Plant
- Krümmel Nuclear Power Plant
- Brunsbüttel Nuclear Power Plant
- Stade Nuclear Power Plant
- Unterweser Nuclear Power Plant
- Grohnde Nuclear Power Plant
It also owns one third of the Brunsbüttel nuclear power plant which was shut down in 2007 because of a long history of malfunctions and as part of a nuclear power phase-out, the plant has since not been used.
E.ON UK, owns 30% of the London Array project, which is a very large wind generation scheme that will be built in the Thames estuary. E.ON opened a windfarm off the coast of Cornwall in 2008 and ran, during autumn and summer 2007, "Wind of Change" adverts on British TV networks; the main advert was filmed in the English seaside town of Broadstairs.
|Year||Production (TWh)||Emission (Gt CO2)||kg CO2/MWh|
E.ON Business Services (previously E.ON IT (until 30 September 2013), and is:energy) is the IT service provider of the energy company E.ON. It bundles business services for finance and HR as well as IT under a single roof and employs around 3,400 people.
Before the VEBA and VIAG merged to become E.ON, these companies were provided with IT services by synergis GmbH and GEDOS mbH. After the merger in 2001, these two companies became is:energy. The new company was a partnership of E.ON Energie AG (74.78%) and Cap Gemini Ernst & Young AG (25.22%). In 2005 Cap Gemini Ernst & Young relinquished its minority stake to E.ON's regional suppliers. This created is:energy, which as a result of the change of partners became E.ON IS, a direct subsidiary of E.ON. In 2006, E.ON IS extended its product range to include telecommunications services. At the same time, the company's international expansion continued.
|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
E.ON UK sponsored the FA Cup for four years, from 2006 to the end of the 2009/10 football season. The four-year deal which included the FA Women's Cup and the FA Youth Cup was worth around £40 million. E.ON is the official energy partner of The Football League and sponsors a collection of home programmes on Channel Five in the UK. E.ON has previously sponsored ITV Weather, the Ipswich Town football club and the Rugby Cup.
In 2014, E.ON decided to sell Jackson Pollock's Number 5 (Elegant Lady) (1951), a painting the company has owned since 1980, at Christie's auction to keep funding the Museum Kunstpalast. Pollock had swapped it in 1954 with New York gallery owner Martha Jackson for the convertible in which he had a fatal accident two years later. In 1980, Ulrich Hartmann, head of VEBA's corporate board office, pushed for the purchase from art dealer Alfred Schmela. The acquisition was considered the foundation for E.ON's art collection of more than 1,800 works.
- Elbe Crossing 1
- Elbe Crossing 2
- GKK Etzenricht
- Baltic-Cable ( operated in cooperation with Baltic-Cable AB)
- European Transmission System Operators
- Gesellschaft für Nuklear Service
- Power to gas
- Scroby Sands wind farm
- "E.ON SE – Key Figures". Eon.com. 31 December 2012. Retrieved 8 July 2013.
- "Structure". Retrieved 20 November 2012.
- "Questions and Answers about E.ON Group – What does E.ON mean?". Retrieved 22 December 2011.
- "Who we are. An overview". Retrieved 18 January 2011.
- E.ON: Many Companies, One Brand
- E.ON to buy Powergen
- German utility E.ON buys Ruhrgas
- PPL press release: "PPL Completes Acquisition of Two Kentucky Utility Companies", November 1, 2010.
- E.ON drops out of Endesa fight
- Nikki Tait (8 July 2009). "Brussels fines GDF and Eon €1.1bn". Financial Times. Retrieved 8 July 2009.
- Adam Mitchell (8 July 2009). "GDF Suez: To Appeal EU Antitrust Decision On Pipeline". The Wall Street Journal. Retrieved 8 July 2009.[dead link]
- Ian Traynor (8 July 2009). "Brussels levies €1.1bn fine on gas pact pair". The Guardian. Retrieved 8 July 2009.
- "RWE, EOn pull plug on UK nuclear plans". World Nuclear News. 29 March 2012. Retrieved 7 April 2012.
- EON may detail jobs cut
- E.ON making progress with restructuring
- "E.On to reimburse 12mn pounds to customers for mis-selling power". The UK News. Retrieved 17 May 2014.
- http://www.eon-kernkraft.com/pages/ekk_de/Unternehmen/Portraet/Uebersicht/index.htm , Apr 28, 2011.
- http://www.energieverbraucherportal.de/themen_detail.html?&cHash=727095b239&tx_ttnews%5BbackPid%5D=188&tx_ttnews%5Btt_news%5D=1098 , Apr 28. 2011.
- eon.com/ebs: E.ON Business Services Company Profile
- E.On not to renew FA Cup backing
- Tino Andresen (March 21, 2014), Pollock's 'Elegant Lady' for Sale as EON Raids Art Hoard Bloomberg News.
- Kelly Crow (March 20, 2014), Pollock With a Dark Side Wall Street Journal.
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