PPL, CKI, MidAmerican named as bidders for E.ON UK grid business

E.ON is understood to have received bids for its UK electricity grid distribution business from US energy supplier PPL, Hong Kong-based CKI and MidAmerican Energy Holdings, owned by Warren Buffett’s Berkshire Hathaway.
All three firms already have operations in the UK. According to the Financial Times, E.ON is considering the new approaches after talks late last year to sell the business, the UK’s second-biggest electricity network that provides power to more than 5m customers in the Midlands, to a group of buyers led by Canada Pension Plan, stalled over price.
E.ON has taken on JP Morgan Chase and Barclays to advise it during a EUR15bn ($21bn) asset sale over the next three years.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...