E.ON mulling sale of grid business

Germany’s largest utility, E.ON, is reported to be considering the sale of its grid business as it continues to adapt to inhospitable market conditions.
Johannes Teyssen of E.ON
Reputable weekly WirtschaftsWoche reports that the company may spin off least part of its power grids to offset falling grid fees, a pending payment for radioactive storage and possible writedowns.

The newspaper cited unnamed sources emanating from the company asserting that the news will be announced in tandem with its Q3 report on November 9th.

E.ON spun off a majority stake in its power generation and energy trading business Uniper as part of a strategic overhaul last month and is awaiting an announcement from the German government on how much it must pay for funding radioactive storage as part of the country’s nuclear phase-out.

Germany’s top four energy groups – also including RWE, EnBW and Vattenfall, are set to hear a decision from the country’s government on the final funding they must provide for storage of nuclear waste on the 19th of October.

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


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

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 ...