E.ON: Difference between revisions
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{{Infobox company |
{{Infobox company |
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| name = E |
| name = E.ON SE |
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| logo = [[File:Logo E |
| logo = [[File:Logo E.ON.svg|225px]] |
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| image = [[File:EON-Ruhrgas-Zentrale Essen.jpg|250px]] |
| image = [[File:EON-Ruhrgas-Zentrale Essen.jpg|250px]] |
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| image_caption = E |
| image_caption = E.ON headquarters in [[Essen]] |
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| type = ‘’[[Societas Europaea]]’’ |
| type = ‘’[[Societas Europaea]]’’ |
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| traded_as = {{FWB|EOAN}} |
| traded_as = {{FWB|EOAN}} |
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| predecessor = {{unbulleted list|[[VEBA]]|VIAG|[[PreussenElektra]]|E |
| predecessor = {{unbulleted list|[[VEBA]]|VIAG|[[PreussenElektra]]|E.ON AG}} |
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| successor = |
| successor = |
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| founder = |
| founder = |
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| products = electrical power<br />natural gas |
| products = electrical power<br />natural gas |
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| services = [[Electricity generation]] and [[electricity distribution|distribution]]<br />natural gas [[hydrocarbon exploration|exploration]], [[energy production|production]], transportation and distribution |
| services = [[Electricity generation]] and [[electricity distribution|distribution]]<br />natural gas [[hydrocarbon exploration|exploration]], [[energy production|production]], transportation and distribution |
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| revenue ={{increase}}€116.56 billion <small>(2015)</small><ref>{{cite web|url=http://www.eon.com/en/about-us/publications/annual-report.html|title=Annual Report - E |
| revenue ={{increase}}€116.56 billion <small>(2015)</small><ref>{{cite web|url=http://www.eon.com/en/about-us/publications/annual-report.html|title=Annual Report - E.ON SE|publisher=eon.com}}</ref> |
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| net_income ={{decrease}} −€6.377 billion <small>(2015)</small> |
| net_income ={{decrease}} −€6.377 billion <small>(2015)</small> |
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| assets ={{decrease}} €113.369 billion <small>(2015)</small> |
| assets ={{decrease}} €113.369 billion <small>(2015)</small> |
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| num_employees = 56,490 <small>(end 2015)</small> |
| num_employees = 56,490 <small>(end 2015)</small> |
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| divisions = |
| divisions = |
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| subsid = E |
| subsid = E.ON Ruhrgas<br />[[E.ON UK]]<br />[[E.ON Sverige]] |
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| footnotes = |
| footnotes = |
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| intl = yes |
| intl = yes |
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| location_country = Germany |
| location_country = Germany |
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| locations = |
| locations = |
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|title=E |
|title=E.ON SE – Key Figures |
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|publisher=Eon.com |
|publisher=Eon.com |
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|date=12 March 2015 |
|date=12 March 2015 |
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| homepage = {{URL|www.eon.com}} |
| homepage = {{URL|www.eon.com}} |
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}} |
}} |
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‘’’E |
‘’’E.ON [[Societas Europaea|SE]]’’’<ref>{{cite web|url=http://www.eon.com/en/about-us/structure.html|title=Structure|accessdate=20 November 2012}}</ref> (marketed with an [[interpunct]] as ‘’’E·ON’’’) is a European holding company based in [[Essen]], North Rhine-Westphalia, Germany. It runs one of the world’s [[List of largest companies by revenue|largest]] investor-owned [[electric utility]] service providers. The name comes from the [[Greek language|Greek]] word ‘’[[aeon]]’’ which means ‘’an age’’.<ref>{{cite web|url=http://www.eon.com/en/infoservice/32944.jsp|title=Questions and Answers about E.ON Group – What does E.ON mean?|accessdate=22 December 2011|deadurl=yes|archiveurl=https://web.archive.org/web/20120104000930/http://www.eon.com/en/infoservice/32944.jsp|archivedate=4 January 2012|df=dmy-all}}</ref> The company is a component of the [[Euro Stoxx 50]] [[stock market index]].<ref>{{cite web|url=http://www.boerse-frankfurt.de/en/equities/indices/euro+stoxx+50+EU0009658145/constituents |title=#NAME# Liste - #NAME# Werte - boerse-frankfurt.de |website=Boerse-frankfurt.de |accessdate=2016-02-03 |deadurl=yes |archiveurl=https://web.archive.org/web/20151119171222/http://www.boerse-frankfurt.de/en/equities/indices/euro+stoxx+50+EU0009658145/constituents |archivedate=19 November 2015 |df=dmy }}</ref> |
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It operates in over 30 countries and serves over 33 million customers.<ref>{{cite web|url=http://www.eon.com/en/corporate/2035.jsp |title=Who we are. An overview|accessdate=18 January 2011}}</ref> It is one of the 30 members of the [[DAX]] [[stock index]] of major German companies and a member of the [[Dow Jones Global Titans 50|Global Titans 50]] index. Its chief executive officer (‘’Vorstandsvorsitzender’’) is Dr. Johannes Teyssen.<ref>{{cite web|url=http://www.eon.com/en/unternehmen/6355.jsp|title=Energieversorger, Erneuerbare Energien, Strom, Gas - E |
It operates in over 30 countries and serves over 33 million customers.<ref>{{cite web|url=http://www.eon.com/en/corporate/2035.jsp |title=Who we are. An overview|accessdate=18 January 2011}}</ref> It is one of the 30 members of the [[DAX]] [[stock index]] of major German companies and a member of the [[Dow Jones Global Titans 50|Global Titans 50]] index. Its chief executive officer (‘’Vorstandsvorsitzender’’) is Dr. Johannes Teyssen.<ref>{{cite web|url=http://www.eon.com/en/unternehmen/6355.jsp|title=Energieversorger, Erneuerbare Energien, Strom, Gas - E.ON SE|website=Eon.com|accessdate=2016-02-03}}</ref> |
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E |
E.ON separated its conventional power generation and energy trading operations into a new company, [[Uniper]], on 1 January 2016, retaining its retail, distribution and nuclear operations.<ref name=DW>{{cite news|title=E.ON ditches nuclear spin-off plan|url=http://www.dw.com/en/eon-ditches-nuclear-spin-off-plan/a-18707865|accessdate=16 November 2016|work=DW|date=10 September 2016}}</ref> E.ON sold a majority stake in Uniper in September 2016.<ref>{{cite news|last1=Andresen|first1=Tino|title=EON Loosens Ties to Old Energy as Uniper Starts Trading|url=https://www.bloomberg.com/news/articles/2016-09-12/eon-loosens-grip-on-old-power-plants-as-uniper-starts-trading|accessdate=16 November 2016|publisher=Bloomberg|date=12 September 2016}}</ref> |
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==History== |
==History== |
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E |
E.ON came into existence in 2000 through the merger of energy companies [[VEBA]] and VIAG (Vereinigte Industrieunternehmungen AG; United Industrial Enterprises Corporation). In the United Kingdom, [[Powergen]] was acquired by E.ON in January 2002.<ref>{{cite news|url=https://query.nytimes.com/gst/fullpage.html?res=9406E7DA1F3EF933A25757C0A9679C8B63|title=WORLD BUSINESS BRIEFING - EUROPE - E.ON TO BUY POWERGEN - NYTimes.com|date=10 April 2001|website=Query.nytimes.com|accessdate=2016-02-03}}</ref> 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. |
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E |
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 (utility)|PPL]] for $7.625 billion. The sale was closed on 1 November 2010, with E-ON US becoming [[LG&E and KU Energy]].<ref>{{cite web|url=http://pplweb.mediaroom.com/index.php?s=12270&item=17850|title=PPL Completes Acquisition of Two Kentucky Utility Companies|website=Pplweb.mediaroom.com|accessdate=2016-02-03}}</ref> |
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E |
E.ON attempted to acquire [[Endesa (Spain)|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 [[divestment|divest]] under [[European Commissioner for Competition|EU competition rulings]].<ref>{{cite web|url=https://www.theguardian.com/business/2007/apr/03/spain|title=Eon drops out of Endesa fight|author=Mark Milner|work=the Guardian}}</ref> |
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In July 2009, the [[European Commission]] fined [[GDF Suez]] and E |
In July 2009, the [[European Commission]] fined [[GDF Suez]] and E.ON €553 million each over arrangements on the [[MEGAL pipeline]].<ref name=ft080709> |
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{{cite news |
{{cite news |
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| url= http://www.ft.com/cms/s/0/3bc0a53c-6b9f-11de-9320-00144feabdc0.html |
| url= http://www.ft.com/cms/s/0/3bc0a53c-6b9f-11de-9320-00144feabdc0.html |
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</ref> 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.<ref name=ft080709/> |
</ref> 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.<ref name=ft080709/> |
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In 2009, E |
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.<ref name=wnn290312> |
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{{cite news |
{{cite news |
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| url = http://www.world-nuclear-news.org/NN-RWE_EOn_pull_plug_on_UK_nuclear_plans-2903124.html |
| url = http://www.world-nuclear-news.org/NN-RWE_EOn_pull_plug_on_UK_nuclear_plans-2903124.html |
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In August 2011, the company announced a possible loss 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 by 2036 as the Bundestag had decided on 28 October 2010.<ref>{{cite web|url=http://www.ft.com/intl/cms/s/0/31477630-c0fc-11e0-b8c2-00144feabdc0.html#axzz1URgqVGcT|title=Eon may detail job cuts|work=Financial Times}}</ref><ref>[[Bundestag]]: [http://www.bundestag.de/dokumente/textarchiv/2010/32009392_kw43_de_atompolitik/index.html „Laufzeitverlängerung von Atomkraftwerken zugestimmt“]. </ref> |
In August 2011, the company announced a possible loss 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 by 2036 as the Bundestag had decided on 28 October 2010.<ref>{{cite web|url=http://www.ft.com/intl/cms/s/0/31477630-c0fc-11e0-b8c2-00144feabdc0.html#axzz1URgqVGcT|title=Eon may detail job cuts|work=Financial Times}}</ref><ref>[[Bundestag]]: [http://www.bundestag.de/dokumente/textarchiv/2010/32009392_kw43_de_atompolitik/index.html „Laufzeitverlängerung von Atomkraftwerken zugestimmt“]. </ref> |
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As a result, E |
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.<ref>{{cite web|url=http://www.industrial-newsroom.com/news-detail/t/eon-making-progress-with-restructuring-confirms-forecast/|title=E.ON making progress with restructuring, confirms forecast|website=Industrial-newsroom.com|accessdate=2016-02-03}}</ref> |
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In May 2014 the UK energy sector regular [[Office of Gas and Electricity Markets|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.<ref name=”OfgemPenalty”>{{cite news|title=E |
In May 2014 the UK energy sector regular [[Office of Gas and Electricity Markets|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.<ref name=”OfgemPenalty”>{{cite news|title=E.On to reimburse 12mn pounds to customers for mis-selling power|url=http://www.theuknews.com/index.php/sid/222063701/scat/0f440bf3fff89f01/ht/EOn-to-reimburse-12mn-pounds-to-customers-for-mis-selling-power|accessdate=17 May 2014|publisher=’’The UK News}}</ref> |
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In November 2014, E |
In November 2014, E.ON announced to abstain from fossil energy in the future. The company planned to transfer its business segments around fossil energy and nuclear power into a new company and to go public in 2016 <ref>{{Cite news|url=http://www.sueddeutsche.de/politik/energiekonzern-eon-gibt-atomenergie-kohle-und-gas-auf-1.2246336|title=Energiekonzern: Eon gibt Atomenergie, Kohle und Gas auf|last=Berlin|first=Markus Balser|newspaper=sueddeutsche.de|language=de|issn=0174-4917|access-date=2016-12-28}}</ref> |
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==Operations== |
==Operations== |
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E |
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 Europe|Central and Eastern Europe]]. E.ON is present in most of [[Scandinavia]]. |
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E |
E.ON is organized into the following business areas: |
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* Customer Solutions |
* Customer Solutions |
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* Energy Networks |
* Energy Networks |
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===Nuclear energy=== |
===Nuclear energy=== |
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[[File:Kernkraftwerk Brunsbüttel - Landseite.jpg|thumb|right | Brunsbüttel nuclear power plant]] |
[[File:Kernkraftwerk Brunsbüttel - Landseite.jpg|thumb|right | Brunsbüttel nuclear power plant]] |
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E |
E.ON operates seven [[nuclear power plants in Germany]] through its subsidiary E.ON Kernkraft GmbH, employing about 2600 workers.<ref>{{cite web|author= |url=http://www.eon-kernkraft.com/pages/ekk_de/Unternehmen/Portraet/Uebersicht/index.htm |title=E.ON Kernkraft GmbH - E.ON SE |website=Eon-kernkraft.com |date= |accessdate=2016-02-03}}</ref> It owns the following nuclear power plants: |
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* [[Brokdorf Nuclear Power Plant]] ([[Vattenfall Europe Nuclear Energy GmbH]] owns 20% and E |
* [[Brokdorf Nuclear Power Plant]] ([[Vattenfall Europe Nuclear Energy GmbH]] owns 20% and E.ON 80%). |
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* [[Emsland Nuclear Power Plant]] |
* [[Emsland Nuclear Power Plant]] |
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* [[Krümmel Nuclear Power Plant]] |
* [[Krümmel Nuclear Power Plant]] |
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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.<ref>{{cite web|url=http://www.energieverbraucherportal.de/themen_detail.html?&cHash=727095b239&tx_ttnews%5BbackPid%5D=188&tx_ttnews%5Btt_news%5D=1098 |title=Aktuelle Meldungen rund um das Thema Energie | Energieverbraucherportal |website=Energieverbraucherportal.de |date= |accessdate=2016-02-03}}</ref> |
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.<ref>{{cite web|url=http://www.energieverbraucherportal.de/themen_detail.html?&cHash=727095b239&tx_ttnews%5BbackPid%5D=188&tx_ttnews%5Btt_news%5D=1098 |title=Aktuelle Meldungen rund um das Thema Energie | Energieverbraucherportal |website=Energieverbraucherportal.de |date= |accessdate=2016-02-03}}</ref> |
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On September 10, 2015 E |
On September 10, 2015 E.ON announced that the nuclear power division would not be spun off as part of the future [[Uniper]] due to political pressure from the [[Politics of Germany|German government]].<ref>{{cite news|last1=Vasagar|first1=Jeevan|title=Eon scraps plans to spin off its nuclear business|url=http://www.ft.com/cms/s/0/d29a2a72-5799-11e5-97e9-7f0bf5e7177b.html|accessdate=11 September 2015|publisher=Financial Times|date=10 September 2015}}</ref> Instead it will be retained by E.ON.<ref name=DW/> |
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===Windfarm projects=== |
===Windfarm projects=== |
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Eon is a major wind energy player across multiple countries. It has assets in the [[UK]], [[Sweden]], [[Germany]], [[Poland]] and the USA.<ref>{{cite web|url=http://www.eon.com/en/about-us/structure/company-finder/e-dot-on-renewables.html |title=E |
Eon is a major wind energy player across multiple countries. It has assets in the [[UK]], [[Sweden]], [[Germany]], [[Poland]] and the USA.<ref>{{cite web|url=http://www.eon.com/en/about-us/structure/company-finder/e-dot-on-renewables.html |title=E.ON Climate & Renewables GmbH - E.ON SE |website=Eon.com |date=2011-12-15 |accessdate=2016-02-03}}</ref> Notably [[E.ON UK]], owns 30% of the [[London Array]] project, which is a 630 MW [[wind generation]] farm in the [[Thames estuary]]. Another notable wind farm is [[Roscoe Wind Farm|Roscoe]], which was the largest in the world at the time of completion, and for a number of years afterwards. |
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====Carbon intensity==== |
====Carbon intensity==== |
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===Business services=== |
===Business services=== |
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E |
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 3,800 people. These are located at four legal entities in Germany (EBS GmbH, EBS Berlin GmbH, EBS Hanover GmbH and EBS Regensburg GmbH); plus legal entities in ten further countries (Belgium, Netherlands, Luxembourg, Czech Republic, Hungary, Italy, Romania, Slovakia, Sweden and United Kingdom). |
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<ref name=”eon_hp”>{{cite web|url=http://www.eon.com/en/corporate/34643.jsp |title=E |
<ref name=”eon_hp”>{{cite web|url=http://www.eon.com/en/corporate/34643.jsp |title=E.ON Business Services GmbH - E.ON SE |website=Eon.com |date=2015-01-01 |accessdate=2016-02-03}}</ref> |
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Before the VEBA and VIAG merged to become E |
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.{{citation needed|date=February 2014}} |
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==Financial data== |
==Financial data== |
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[[File:Eon-income-loss.jpg|thumb|upright=1.2|Profit of E |
[[File:Eon-income-loss.jpg|thumb|upright=1.2|Profit of E.ON SE 2010–2014<ref>{{cite web|url=http://strom-report.de/#eon-verluste|title=Strom-Report|work=Strom-Report}}</ref>]] |
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{| class=”wikitable” |
{| class=”wikitable” |
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|+ ‘’’Financial data in millions |
|+ ‘’’Financial data in millions |
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===Sports=== |
===Sports=== |
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E |
E.ON UK sponsored the [[FA Cup]] for four years, from 2006 to the end of the 2009/10 football season.<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/business/8233293.stm|title=BBC NEWS - Business - E.On not to renew FA Cup backing|website=News.bbc.co.uk|accessdate=2016-02-03}}</ref> 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 [[Five (TV channel)|Channel Five]] in the UK. E.ON has previously sponsored [[ITV Weather]], the [[Ipswich Town F.C.|Ipswich Town]] football club and the Rugby Cup. |
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Between 2000 and 2006, E |
Between 2000 and 2006, E.ON was the main kit sponsor of German [[Fußball-Bundesliga|Bundesliga]] club [[Borussia Dortmund]]. |
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E |
E.ON Ruhrgas is the main sponsor of the [[International Biathlon Union|IBU]] [[biathlon]]{{When|date=November 2009}} World Cup and is the main sponsor of the [[Ski jumping World Cup]]{{When|date=November 2009}}. |
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E |
E.ON Sverige sponsored the [[E.ON Arena|home arena]] of [[Sweden|Swedish]] [[ice hockey]] team [[Timrå IK]] from 2003 to 2015. |
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E |
E.ON was one of the main sponsors of [[2007–08 Eredivisie|2007–2008]] Dutch [[Eredivisie]] Champions [[PSV Eindhoven]]. |
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===Arts=== |
===Arts=== |
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Between 1998 and 2014, E |
Between 1998 and 2014, E.ON spent more than 30 million euros ($41 million) supporting the [[Museum Kunstpalast]], located next to the corporate headquarters in Düsseldorf.<ref name=”bloomberg.com”>Tino Andresen (March 21, 2014), [https://www.bloomberg.com/news/2014-03-21/pollock-s-elegant-lady-for-sale-as-eon-raids-art-hoard.html Pollock’s ‘Elegant Lady’ for Sale as EON Raids Art Hoard] ‘’[[Bloomberg News]]’’.</ref> |
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In 2014, E |
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]].<ref>Kelly Crow (March 20, 2014), [https://www.wsj.com/news/articles/SB10001424052702303802104579451193089700958?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303802104579451193089700958.html Pollock With a Dark Side] ‘’[[Wall Street Journal]]’’.</ref> 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.<ref name=”bloomberg.com”/> |
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==Facilities== |
==Facilities== |
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* {{official website}} |
* {{official website}} |
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{{E |
{{E.ON}} |
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{{Euro Stoxx 50 Companies}} |
{{Euro Stoxx 50 Companies}} |
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{{DAX companies}} |
{{DAX companies}} |
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{{Authority control}} |
{{Authority control}} |
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[[Category:E |
[[Category:E.ON| ]] |
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[[Category:2000 establishments in Germany]] |
[[Category:2000 establishments in Germany]] |
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[[Category:Companies based in North Rhine-Westphalia]] |
[[Category:Companies based in North Rhine-Westphalia]] |
Revision as of 08:54, 28 November 2017
This article needs additional citations for verification. (February 2014) |
![]() | |
![]() E.ON headquarters in Essen | |
Company type | ‘’Societas Europaea’’ |
---|---|
FWB: EOAN | |
ISIN | DE000ENAG999 ![]() |
Industry | Electric utility |
Predecessor |
|
Founded | 2000 |
Headquarters | Essen , Germany |
Area served | Europe United States |
Key people | Johannes Teyssen (CEO and chairman of the executive board) Werner Wenning (Chairman of the supervisory board) |
Products | electrical power natural gas |
Services | Electricity generation and distribution natural gas exploration, production, transportation and distribution |
Revenue | ![]() |
![]() | |
Total assets | ![]() |
Number of employees | 56,490 (end 2015) |
Subsidiaries | E.ON Ruhrgas E.ON UK E.ON Sverige |
Website | www |
‘’’E.ON SE’’’[2] (marketed with an interpunct as ‘’’E·ON’’’) is a European holding company based in Essen, 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 ‘’an age’’.[3] The company is a component of the Euro Stoxx 50 stock market index.[4]
It operates in over 30 countries and serves over 33 million customers.[5] 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 Dr. Johannes Teyssen.[6]
E.ON separated its conventional power generation and energy trading operations into a new company, Uniper, on 1 January 2016, retaining its retail, distribution and nuclear operations.[7] E.ON sold a majority stake in Uniper in September 2016.[8]
History
E.ON came into existence in 2000 through the merger of energy companies VEBA and VIAG (Vereinigte Industrieunternehmungen AG; United Industrial Enterprises Corporation). In the United Kingdom, Powergen was acquired by E.ON in January 2002.[9] 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.[10]
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.[11]
In July 2009, the European Commission fined GDF Suez and E.ON €553 million each over arrangements on the MEGAL pipeline.[12][13] It was the second biggest fines imposed by the European Commission and first one on the energy sector.[12][14] 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.[12]
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.[15]
In August 2011, the company announced a possible loss 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 by 2036 as the Bundestag had decided on 28 October 2010.[16][17]
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.[18]
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.[19]
In November 2014, E.ON announced to abstain from fossil energy in the future. The company planned to transfer its business segments around fossil energy and nuclear power into a new company and to go public in 2016 [20]
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. E.ON is present in most of Scandinavia.
E.ON is organized into the following business areas:
- Customer Solutions
- Energy Networks
- Renewables
Nuclear energy
![](http://upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Kernkraftwerk_Brunsb%C3%BCttel_-_Landseite.jpg/220px-Kernkraftwerk_Brunsb%C3%BCttel_-_Landseite.jpg)
E.ON operates seven nuclear power plants in Germany through its subsidiary E.ON Kernkraft GmbH, employing about 2600 workers.[21] It owns the following nuclear power plants:
- 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.[22]
On September 10, 2015 E.ON announced that the nuclear power division would not be spun off as part of the future Uniper due to political pressure from the German government.[23] Instead it will be retained by E.ON.[7]
Windfarm projects
Eon is a major wind energy player across multiple countries. It has assets in the UK, Sweden, Germany, Poland and the USA.[24] Notably E.ON UK, owns 30% of the London Array project, which is a 630 MW wind generation farm in the Thames estuary. Another notable wind farm is Roscoe, which was the largest in the world at the time of completion, and for a number of years afterwards.
Carbon intensity
Year | Production (TWh) | Emission (Gt CO2) | kg CO2/MWh |
---|---|---|---|
2002 | 216 | 91.78 | 425 |
2003 | 186 | 93.83 | 504 |
2004 | 245 | 101.39 | 413 |
2005 | 229 | 101.17 | 442 |
2006 | 221 | 100.8 | 456 |
2007 | 247 | 106.04 | 429 |
2008 | 239 | 100.07 | 418 |
2009 | 216 | 84.7 | 393 |
Business services
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 3,800 people. These are located at four legal entities in Germany (EBS GmbH, EBS Berlin GmbH, EBS Hanover GmbH and EBS Regensburg GmbH); plus legal entities in ten further countries (Belgium, Netherlands, Luxembourg, Czech Republic, Hungary, Italy, Romania, Slovakia, Sweden and United Kingdom). [25]
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.[citation needed]
Financial data
![](http://upload.wikimedia.org/wikipedia/commons/thumb/e/e3/Eon-income-loss.jpg/260px-Eon-income-loss.jpg)
Years | 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
Sponsorship
Sports
E.ON UK sponsored the FA Cup for four years, from 2006 to the end of the 2009/10 football season.[27] 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.
Between 2000 and 2006, E.ON was the main kit sponsor of German Bundesliga club Borussia Dortmund.
E.ON Ruhrgas is the main sponsor of the IBU biathlon[when?] World Cup and is the main sponsor of the Ski jumping World Cup[when?].
E.ON Sverige sponsored the home arena of Swedish ice hockey team Timrå IK from 2003 to 2015.
E.ON was one of the main sponsors of 2007–2008 Dutch Eredivisie Champions PSV Eindhoven.
Arts
Between 1998 and 2014, E.ON spent more than 30 million euros ($41 million) supporting the Museum Kunstpalast, located next to the corporate headquarters in Düsseldorf.[28]
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.[29] 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.[28]
Facilities
- Elbe Crossing 1
- Elbe Crossing 2
- GKK Etzenricht
- Baltic Cable (operated in cooperation with Baltic-Cable AB)
See also
- European Transmission System Operators
- Gesellschaft für Nuklear-Service
- Power to gas
- Scroby Sands wind farm
References
- ^ "Annual Report - E.ON SE". eon.com.
- ^ "Structure". Retrieved 20 November 2012.
- ^ "Questions and Answers about E.ON Group – What does E.ON mean?". Archived from the original on 4 January 2012. Retrieved 22 December 2011.
{{cite web}}
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suggested) (help) - ^ "#NAME# Liste - #NAME# Werte - boerse-frankfurt.de". Boerse-frankfurt.de. Archived from the original on 19 November 2015. Retrieved 2016-02-03.
{{cite web}}
: Unknown parameter|deadurl=
ignored (|url-status=
suggested) (help) - ^ "Who we are. An overview". Retrieved 18 January 2011.
- ^ "Energieversorger, Erneuerbare Energien, Strom, Gas - E.ON SE". Eon.com. Retrieved 3 February 2016.
- ^ a b "E.ON ditches nuclear spin-off plan". DW. 10 September 2016. Retrieved 16 November 2016.
- ^ Andresen, Tino (12 September 2016). "EON Loosens Ties to Old Energy as Uniper Starts Trading". Bloomberg. Retrieved 16 November 2016.
- ^ "WORLD BUSINESS BRIEFING - EUROPE - E.ON TO BUY POWERGEN - NYTimes.com". Query.nytimes.com. 10 April 2001. Retrieved 3 February 2016.
- ^ "PPL Completes Acquisition of Two Kentucky Utility Companies". Pplweb.mediaroom.com. Retrieved 3 February 2016.
- ^ Mark Milner. "Eon drops out of Endesa fight". the Guardian.
- ^ a b c 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. Archived from the original on 13 August 2009. Retrieved 8 July 2009.
{{cite news}}
: Unknown parameter|deadurl=
ignored (|url-status=
suggested) (help) - ^ 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 job cuts". Financial Times.
- ^ Bundestag: „Laufzeitverlängerung von Atomkraftwerken zugestimmt“.
- ^ "E.ON making progress with restructuring, confirms forecast". Industrial-newsroom.com. Retrieved 3 February 2016.
- ^ "E.On to reimburse 12mn pounds to customers for mis-selling power". ’’The UK News. Retrieved 17 May 2014.
- ^ Berlin, Markus Balser. "Energiekonzern: Eon gibt Atomenergie, Kohle und Gas auf". sueddeutsche.de (in German). ISSN 0174-4917. Retrieved 28 December 2016.
- ^ "E.ON Kernkraft GmbH - E.ON SE". Eon-kernkraft.com. Retrieved 3 February 2016.
- ^ "Aktuelle Meldungen rund um das Thema Energie | Energieverbraucherportal". Energieverbraucherportal.de. Retrieved 3 February 2016.
- ^ Vasagar, Jeevan (10 September 2015). "Eon scraps plans to spin off its nuclear business". Financial Times. Retrieved 11 September 2015.
- ^ "E.ON Climate & Renewables GmbH - E.ON SE". Eon.com. 15 December 2011. Retrieved 3 February 2016.
- ^ "E.ON Business Services GmbH - E.ON SE". Eon.com. 1 January 2015. Retrieved 3 February 2016.
- ^ "Strom-Report". Strom-Report.
- ^ "BBC NEWS - Business - E.On not to renew FA Cup backing". News.bbc.co.uk. Retrieved 3 February 2016.
- ^ a b 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’’.
External links
Media related to E.ON at Wikimedia Commons
- E.ON
- 2000 establishments in Germany
- Companies based in North Rhine-Westphalia
- Companies based in Essen
- Companies in the Euro Stoxx 50
- German brands
- Holding companies established in 2000
- Multinational companies headquartered in Germany
- Natural gas companies of Germany
- Nuclear power companies of Germany
- Power companies of Germany
- Public utilities
- Societates Europaeae
- Wind power companies of the United States
- Companies formed by merger