E.ON
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| Type | Public (FWB: EOAN) |
|---|---|
| Founded | 2000 |
| Headquarters | Düsseldorf, Germany |
| Key people | Wulf H. Bernotat (CEO and Chairman of the executive board), Ulrich Hartmann (Chairman of the supervisory board) |
| Industry | Utilities, energy |
| Products | Electricity generation and distribution, renewable energy, natural gas exploration, production, transportation and distribution |
| Revenue | €86.75 billion (2008)[1] |
| Operating income | ▲ €4.946 billion (2008)[1] |
| Profit | ▲ €1.266 billion (2008)[1] |
| Employees | 93,540 (2008)[1] |
| Website | www.eon.com |
E.ON AG (FWB: EOAN), an energy corporation based in Düsseldorf, Germany, 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. Wulf H. Bernotat. The name comes from the Greek word aeon.[2]
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[edit] History
The Company came into existence in 2000 through the merger of VEBA and VIAG.
In the UK, Powergen was eventually taken over itself by E.ON, an acquisition which was completed in January 2002.[3]
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.[4]
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 did however acquire about €10 billion of assets that the enlarged Enel was required to divest under EU competition rulings.[5]
In July 2009, the European Commission fined GDF Suez and E.ON €553 million both over arrangements on the MEGAL pipeline.[6][7] It was the second biggest fines imposed by the European Commission and first one on the energy sector.[6][8] 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.[6]
[edit] Operations
E.ON is one of the major public utility companies in Europe and the world’s largest investor-owned energy service provider. It has, for example, acquired Sydkraft in Sweden, OGK-4 in Russia and Powergen in the United Kingdom. Sydkraft and Powergen have now been rebranded to E.ON Sverige and E.ON UK respectively.
As result of the merger E.ON inherited the subsidiaries of VEBA, VIAG and Ruhrgas in Central and Eastern Europe. It is also present in Russia, where it has a stake in the natural gas company Gazprom (6.4%) and control of the generation company OGK-4. E.ON is present in most of Scandinavia.
In the United States, E.ON has renamed LG&E Energy to E.ON US, and is headquartered in Louisville, Kentucky.
In Britain, E.ON will open a windfarm off the coast of Cornwall in 2008 and has, during Autumn and Summer 2007, been running "Wind of Change" adverts on British TV networks; the main advert was filmed in the English seaside town of Broadstairs.
Currently, E.ON is organized in five market units:
- E.ON Energie AG, which supplies power in continental Europe
- E.ON Sverige, which supplies power in Scandinavia
- E.ON UK, which supplies power in the UK
- E.ON US, which supplies power in the US
- E.ON Ruhrgas, which supplies gas in Europe
[edit] Financial Data
| Années | 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
[edit] Sponsorship
In February 2006 it was announced that E.ON UK would sponsor the FA Cup. The four-year deal which included the FA Women's Cup and the FA Youth Cup is worth around £40 million. E.ON are also the official energy partner of The Football League and now also sponsor a collection of home programmes on Channel Five in the UK. E.ON have previously sponsored ITV Weather, the Ipswich Town football club and the Rugby Cup.
Between 2000 and 2006, E.ON were the main kit sponsor of German Bundesliga club Borussia Dortmund.
E.ON Ruhrgas are the main sponsors of the IBU biathlon[when?] World Cup and are the main sponsors of the Ski jumping World Cup[when?].
E.ON Sverige has sponsored the home arena of Swedish ice hockey team Timrå IK since 2003.
E.ON were one of the main sponsors of 2007-2008 Dutch Eredivisie Champions PSV Eindhoven.
[edit] Environmental projects
E.ON's UK arm, E.ON UK, owns 50% of the London Array project, which is a very large wind generation scheme that will be built in the Thames estuary.
[edit] Criticism
The Company has come up against heavy criticism for its plans to build a new coal power station to replace its current facility at Kingsnorth, Kent in the UK. This would be the first new coal power station in the UK in 30 years.[9]
[edit] Facilities
- Elbe Crossing 1
- Elbe Crossing 2
- GKK Etzenricht
- Baltic-Cable ( operated in cooperation with Baltic-Cable AB)
[edit] See also
[edit] References
- ^ a b c d "Annual Report 2008". E.ON. http://www.eon.com/en/downloads/Financial_Report_2008_EN.pdf. Retrieved on 2009-03-14.
- ^ E.ON: Many Companies, One Brand
- ^ E.ON to buy Powergen
- ^ German utility E.ON buys Ruhrgas
- ^ E.ON drops out of Endesa fight
- ^ a b c Nikki Tait (2009-07-08). "Brussels fines GDF and Eon €1.1bn". Financial Times. http://www.ft.com/cms/s/0/3bc0a53c-6b9f-11de-9320-00144feabdc0.html. Retrieved on 2009-07-08.
- ^ Adam Mitchell (2009-07-08). "GDF Suez: To Appeal EU Antitrust Decision On Pipeline". The Wall Street Journal. http://online.wsj.com/article/BT-CO-20090708-703945.html. Retrieved on 2009-07-08.
- ^ Ian Traynor (2009-07-08). "Brussels levies €1.1bn fine on gas pact pair". The Guardian. http://www.guardian.co.uk/business/2009/jul/08/gas-company-fines-european-commission. Retrieved on 2009-07-08.
- ^ No new coal
[edit] External links
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Wikimedia Commons has media related to: E.ON |
- E.ON Global site (in German and English)
- E.ON Energie (Market Unit Central Europe) (in German and English)
- Anti-nuclear activists needle German power giant's annual general meeting
- e.on f.off
- nonewcoal.org
- Nasa expert meets Kingsnorth duo
- Al Gore encourages civil disobedience against Coal Fired Power Stations
[edit] Video clips
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