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E.ON
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 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
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
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
E.ON
sold a majority stake in Uniper
Uniper
in September 2016.[8]

Contents

1 History 2 Operations

2.1 Nuclear energy 2.2 Windfarm projects 2.3 Business services

3 Sponsorship

3.1 Sports 3.2 Arts

4 Facilities 5 See also 6 References 7 External links

History[edit] E.ON
E.ON
came into existence in 2000 through the merger of energy companies VEBA
VEBA
and VIAG (Vereinigte Industrieunternehmungen AG; United Industrial Enterprises Corporation). In the United Kingdom, Powergen was acquired by E.ON
E.ON
in January 2002.[9] In 2003 E.ON
E.ON
entered the gas market through the acquisition of Ruhrgas (later: E.ON
E.ON
Ruhrgas). E.ON Ruhrgas was represented in more than 20 countries in Europe. E.ON
E.ON
also acquired Sydkraft
Sydkraft
in Sweden
Sweden
and OGK-4 in Russia. Sydkraft and Powergen
Powergen
were rebranded to E.ON Sverige
E.ON Sverige
and E.ON UK
E.ON UK
respectively. In the United States, E.ON
E.ON
inherited Louisville, Kentucky-based Louisville Gas & Electric Energy, via the acquisition of Powergen, and operated it as E.ON
E.ON
US, until 2010, when E.ON
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
E.ON
attempted to acquire Endesa in 2006, however this acquisition was overtaken by a joint bid from Italian utility Enel
Enel
in conjunction with Spanish company Acciona. E.ON
E.ON
acquired about €10 billion of assets that the enlarged Enel
Enel
was required to divest under EU competition rulings.[11] In July 2009, the European Commission
European Commission
fined GDF Suez
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
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
E.ON
and RWE
RWE
established an equally owned joint venture Horizon Nuclear Power
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
E.ON
and RWE
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
Bundestag
had decided on 28 October 2010.[16][17] As a result, E.ON
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
E.ON
announced to abstain from fossil energy in the future.[20] It transferred its fossil energy businesses into a new company Uniper, which started operating on 1 January 2016.[21][22] E.ON
E.ON
sold a 53% stake in the business through a listing on the Frankfurt Stock Exchange
Frankfurt Stock Exchange
in September 2016.[23] In 2017, it agreed to sold its remaining stake in Uniper
Uniper
to the Finnish power company Fortum.[24] In March 2018, it was announced that E.ON
E.ON
will acquire renewable energy utility Innogy
Innogy
in a complex €43 billion deal of assets swap with RWE. As a result RWE
RWE
will take a 16.7% stake in E.ON.[24] Operations[edit] E.ON
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
E.ON
inherited the subsidiaries of VEBA, VIAG and Ruhrgas in Central and Eastern Europe. E.ON
E.ON
is present in most of Scandinavia. E.ON
E.ON
is organized into the following business areas:

Customer Solutions Energy Networks Renewables

Nuclear energy[edit] Main article: PreussenElektra (nuclear energy company) E.ON
E.ON
subsidiary PreussenElektra GmbH operates the Brokdorf, Grohnde, and Isar 2 nuclear power plants. It is decommissioning Isar 1 and Unterweser nuclear power plants.[25] It also holds minority stakes in the RWE-operated Gundremmingen and Emsland nuclear power plants. According to the assets swap deal between E.ON
E.ON
and RWE, RWE
RWE
will acquire these minority stakes. Windfarm projects[edit] Eon is a major wind energy player across multiple countries. It has assets in the UK, Sweden, Germany, Poland
Poland
and the USA.[26] Notably E.ON
E.ON
UK, owns 30% of the London Array
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. Business services[edit] E.ON
E.ON
Business Services (previously E.ON IT
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
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
Sweden
and United Kingdom). [27] Before the VEBA
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
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
E.ON
IS, a direct subsidiary of E.ON. In 2006, E.ON
E.ON
IS extended its product range to include telecommunications services. At the same time, the company's international expansion continued.[citation needed] Sponsorship[edit] Sports[edit] E.ON UK
E.ON UK
sponsored the FA Cup
FA Cup
for four years, from 2006 to the end of the 2009/10 football season.[28] The four-year deal which included the FA Women's Cup and the FA Youth Cup
FA Youth Cup
was worth around £40 million. E.ON
E.ON
is the official energy partner of The Football League
The Football League
and sponsors a collection of home programmes on Channel Five in the UK. E.ON
E.ON
has previously sponsored ITV Weather, the Ipswich Town football club and the Rugby Cup. Between 2000 and 2006, E.ON
E.ON
was the main kit sponsor of German Bundesliga club Borussia Dortmund. E.ON
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
E.ON Sverige
sponsored the home arena of Swedish ice hockey team Timrå IK
Timrå IK
from 2003 to 2015. E.ON
E.ON
was one of the main sponsors of 2007–2008 Dutch Eredivisie Champions PSV Eindhoven. Arts[edit] Between 1998 and 2014, E.ON
E.ON
spent more than 30 million euros ($41 million) supporting the Museum Kunstpalast, located next to the corporate headquarters in Düsseldorf.[29] In 2014, E.ON
E.ON
decided to sell Jackson Pollock's Number 5 (Elegant Lady) (1951), a painting the company has owned since 1980, at Christie's
Christie's
auction to keep funding the Museum Kunstpalast.[30] 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.[29] Facilities[edit]

Elbe Crossing 1 Elbe Crossing 2 GKK Etzenricht Baltic Cable
Baltic Cable
(operated in cooperation with Baltic-Cable AB)

See also[edit]

Germany
Germany
portal Energy portal Companies portal

European Transmission System Operators Gesellschaft für Nuklear-Service Power to gas Scroby Sands wind farm

References[edit]

^ "Annual Report - E.ON
E.ON
SE". eon.com.  ^ "Structure". Archived from the original on 22 November 2012. Retrieved 20 November 2012.  ^ "Questions and Answers about E.ON
E.ON
Group – What does E.ON
E.ON
mean?". Archived from the original on 4 January 2012. Retrieved 22 December 2011.  ^ "#NAME# Liste - #NAME# Werte - boerse-frankfurt.de". Boerse-frankfurt.de. Archived from the original on 19 November 2015. Retrieved 2016-02-03.  ^ "Who we are. An overview". Archived from the original on 25 December 2010. Retrieved 18 January 2011.  ^ "Energieversorger, Erneuerbare Energien, Strom, Gas - E.ON
E.ON
SE". Eon.com. Archived from the original on 6 December 2008. Retrieved 3 February 2016.  ^ " E.ON
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
Uniper
Starts Trading". Bloomberg. Retrieved 16 November 2016.  ^ "WORLD BUSINESS BRIEFING - EUROPE - E.ON
E.ON
TO BUY POWERGEN - NYTimes.com". Query.nytimes.com. 10 April 2001. Retrieved 2016-02-03.  ^ "PPL Completes Acquisition of Two Kentucky Utility Companies". Pplweb.mediaroom.com. Retrieved 2016-02-03.  ^ 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.  ^ 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
E.ON
making progress with restructuring, confirms forecast". Industrial-newsroom.com. Retrieved 2016-02-03.  ^ "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 2016-12-28.  ^ "Eon zieht nach Essen
Essen
- Neue Gesellschaft heißt Uniper". 27 April 2015. Retrieved 28 April 2015.  ^ mm-newsdesk (27 April 2015). "Eons Kernspaltung - mit "Uniper" soll alles besser werden". Retrieved 28 April 2015.  ^ " Uniper
Uniper
shares get off to volatile market debut". DW. 12 September 2016. Retrieved 16 November 2016.  ^ a b Massoudi, Arash; Buck, Tobias (2018-03-11). "Eon to acquire Innogy
Innogy
in €43bn deal with RWE". Financial Times. Retrieved 2018-03-11. (Subscription required (help)).  ^ "Unterweser gets decommissioning approval". World Nuclear News. 2018-02-07. Retrieved 2018-03-24.  ^ " E.ON
E.ON
Climate & Renewables GmbH - E.ON
E.ON
SE". Eon.com. 2011-12-15. Retrieved 2016-02-03.  ^ " E.ON
E.ON
Business Services GmbH - E.ON
E.ON
SE". Eon.com. 1 January 2015. Archived from the original on 13 March 2012. Retrieved 3 February 2016.  ^ "BBC NEWS - Business - E.On not to renew FA Cup
FA Cup
backing". News.bbc.co.uk. Retrieved 2016-02-03.  ^ 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[edit] Media related to E.ON
E.ON
at Wikimedia Commons

Official website

v t e

E.ON

Divisions and subsidiaries

E.ON
E.ON
Energy Trading E.ON
E.ON
IT E.ON
E.ON
UK PreussenElektra GmbH

Joint ventures and shareholdings

Deutsche Offshore-Testfeld und Infrastruktur

Places and facilities

Germany

Power stations

Alpha Ventus Offshore Wind Farm2

Other

Elbe Crossing 1 Elbe Crossing 2 GKK Etzenricht3

United Kingdom

Blood Hill wind farm Great Eppleton Wind Farm Holmside Hall Wind Farm Humber Gateway Wind Farm London Array
London Array
(30%) Rampion Wind Farm Robin Rigg Wind Farm Scroby Sands Wind Farm Triton Knoll4

Other

EOL Săcele Wind Farm

Predecessors

PreussenElektra VEBA VIAG

1Sold 2Owned by Deutsche Offshore-Testfeld und Infrastruktur 4Proposed

Category Commons

v t e

Euro Stoxx 50 companies of the Euro Area

Last updated October 2015

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WorldCat Identities VIAF: 156860529 LCCN: no2002055511 ISNI: 0000 0004 0397 6367 GND: 16152838-

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