E.ON

E.ON came into existence in 2000 through the merger of energy companies VEBA and {{Interlanguage link|VIAG (company)|lt=VIAG|qid=Q2506037}} (Vereinigte Industrieunternehmungen AG, "United Industrial Enterprises Corporation"). In the United Kingdom, Powergen was acquired by E.ON in January 2002.{{cite news|url=https://www.nytimes.com/2001/04/10/business/world-business-briefing-europe-eon-to-buy-powergen.html|title=WORLD BUSINESS BRIEFING – EUROPE – E.ON TO BUY POWERGEN – NYTimes.com|date=10 April 2001|website=Query.nytimes.com|access-date=3 February 2016}} In 2003 E.ON entered the gas market through the €10.3 billion acquisition of Ruhrgas (later: E.ON Ruhrgas).{{Cite news|url=https://www.nytimes.com/2002/07/06/business/international-business-eon-german-energy-giant-to-acquire-big-gas-distributor.html|title=INTERNATIONAL BUSINESS; E.ON, German Energy Giant, to Acquire Big Gas Distributor|last=Pohl|first=Otto|date=6 July 2002|work=The New York Times|access-date=25 November 2019|language=en-US|issn=0362-4331}} E.ON Ruhrgas was represented in more than 20 countries in Europe.

E.ON also acquired Sydkraft in Sweden{{Cite web|url=https://www.powerengineeringint.com/2001/04/11/eon-granted-eu-approval-for-swedish-utility-acquisition/|title=E.ON granted EU approval for Swedish utility acquisition|date=11 April 2001|website=Power Engineering International|language=en-US|access-date=25 November 2019|archive-date=10 January 2021|archive-url=https://web.archive.org/web/20210110180604/https://www.powerengineeringint.com/world-regions/europe/eon-granted-eu-approval-for-swedish-utility-acquisition/|url-status=dead}} and OGK-4 (now: Unipro) in Russia. Sydkraft, Powergen, and OGK-4 were rebranded to E.ON Sverige, E.ON UK, and E.ON Russia respectively. In the United States, E.ON inherited Louisville, Kentucky-based Louisville Gas & Electric Energy, via the acquisition of Powergen, and operated it as E.ON US, until 2010, when E.ON US was sold to Allentown, Pennsylvania-based PPL Corporation for $7.625 billion. The sale was closed on 1 November 2010, with E-ON US becoming LG&E and KU Energy.{{cite web|url=http://pplweb.mediaroom.com/index.php?s=12270&item=17850|title=PPL Completes Acquisition of Two Kentucky Utility Companies|website=Pplwediaroom.com|access-date=3 February 2016}}

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.{{Cite news|url=https://www.theguardian.com/business/2007/apr/03/spain|title=Eon drops out of Endesa fight|author=Mark Milner|journal=The Guardian|date=3 April 2007}}

In July 2009, the European Commission fined GDF Suez and E.ON €553 million each over arrangements on the MEGAL pipeline.{{cite news |url=http://www.ft.com/cms/s/0/3bc0a53c-6b9f-11de-9320-00144feabdc0.html |archive-url=https://ghostarchive.org/archive/20221211221210/https://www.ft.com/content/3bc0a53c-6b9f-11de-9320-00144feabdc0 |archive-date=11 December 2022 |url-access=subscription |url-status=live |title=Brussels fines GDF and Eon €1.1bn |author=Nikki Tait |newspaper=Financial Times |date=8 July 2009 |access-date=8 July 2009 }}

{{cite news

|url = https://www.wsj.com/article/BT-CO-20090708-703945.html

|title = GDF Suez: To Appeal EU Antitrust Decision On Pipeline

|author = Adam Mitchell

|newspaper = The Wall Street Journal

|date = 8 July 2009

|access-date = 8 July 2009

|url-status = dead

|archive-url = https://web.archive.org/web/20090813213532/http://online.wsj.com/article/BT-CO-20090708-703945.html

|archive-date = 13 August 2009

|df = dmy-all}}

It was the second biggest fine imposed by the European Commission and the first in the energy sector.

{{cite news

| url= https://www.theguardian.com/business/2009/jul/08/gas-company-fines-european-commission

| title= Brussels levies €1.1bn fine on gas pact pair

| author= Ian Traynor

| newspaper= The Guardian

| date=8 July 2009

| access-date=8 July 2009}}

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.

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.

{{cite news

| url = http://www.world-nuclear-news.org/NN-RWE_EOn_pull_plug_on_UK_nuclear_plans-2903124.html

| publisher=World Nuclear News

| date=29 March 2012

| title= RWE, EOn pull plug on UK nuclear plans

| access-date=7 April 2012}}

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.{{cite news |url=http://www.ft.com/intl/cms/s/0/31477630-c0fc-11e0-b8c2-00144feabdc0.html#axzz1URgqVGcT |archive-url=https://ghostarchive.org/archive/20221211221226/https://www.ft.com/content/31477630-c0fc-11e0-b8c2-00144feabdc0#axzz1URgqVGcT |archive-date=11 December 2022 |url-access=subscription |url-status=live |title=Eon may detail job cuts |website=Financial Times |date=7 August 2011 |access-date=8 August 2011 }}Bundestag: [http://www.bundestag.de/dokumente/textarchiv/2010/32009392_kw43_de_atompolitik/index.html „Laufzeitverlängerung von Atomkraftwerken zugestimmt"] {{Webarchive|url=https://web.archive.org/web/20140228021329/http://www.bundestag.de/dokumente/textarchiv/2010/32009392_kw43_de_atompolitik/index.html |date=28 February 2014 }}.

In May 2014, the UK energy sector regulator Ofgem ordered the company to pay 330,000 of its customers a total 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.{{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|access-date=17 May 2014|publisher=The UK News|archive-url=https://web.archive.org/web/20140518024613/http://www.theuknews.com/index.php/sid/222063701/scat/0f440bf3fff89f01/ht/EOn-to-reimburse-12mn-pounds-to-customers-for-mis-selling-power|archive-date=18 May 2014|url-status=dead}}

In November 2014, E.ON announced it would abstain from fossil energy in the future.{{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=28 December 2016}} It transferred its fossil energy businesses into a new company, Uniper, which started operating on 1 January 2016.{{Cite news |url = https://www.welt.de/newsticker/dpa_nt/infoline_nt/wirtschaft_nt/article140184984/Eon-zieht-nach-Essen-Neue-Gesellschaft-heisst-Uniper.html |title=Eon zieht nach Essen – Neue Gesellschaft heißt Uniper |journal=Die Welt |date=27 April 2015 |access-date=28 April 2015}}{{cite web |url = http://www.manager-magazin.de/unternehmen/energie/eons-kernspaltung-klaus-schaefer-fuehrt-neue-gesellschaft-uniper-a-1030938.html |title=Eons Kernspaltung – mit "Uniper" soll alles besser werden |author=mm-newsdesk |date=27 April 2015 |access-date=28 April 2015}} E.ON sold a 53% stake in the business through a listing on the Frankfurt Stock Exchange in September 2016.{{cite news|title=Uniper shares get off to volatile market debut|url=http://www.dw.com/en/uniper-shares-get-off-to-volatile-market-debut/a-19544654|access-date=16 November 2016|work=Deutsche Welle |date=12 September 2016}} In 2017, it agreed to sell its remaining stake in Uniper to the Finnish power company Fortum. The deal was finalized in June 2018, and Uniper continues to operate as an independent entity.{{Cite news|url=https://www.reuters.com/article/us-uniper-m-a-fortum-oyj-idUSKBN1WQ1RO|title=Uniper remains independent for now despite Fortum push: CEO|date=11 October 2019|work=Reuters|access-date=28 November 2019|language=en}} However E.ON still owns coal power in Turkey,{{Rp|page=48}} through its 50% share of Enerjisa.{{Cite web |title=Shareholders {{!}} Enerjisa |url=https://www.enerjisa.com.tr/en/about-enerjisa/shareholders |access-date=2024-03-18 |website=www.enerjisa.com.tr}}

In July 2018, E.ON announced that 500 jobs would be lost in the United Kingdom, blaming the energy price cap due to be implemented by Ofgem.{{Cite news |url=https://www.theguardian.com/business/2018/aug/01/eon-to-cut-500-uk-jobs-as-it-prepares-for-energy-price-cap |title=E.ON to cut 500 UK jobs as it prepares for energy price cap |date=1 August 2018 |access-date=5 December 2018}}

In November 2020, E.ON announced that in the next two years, almost 700 jobs will be cut due to the migration of customers to the new platform that will be completed by the end of 2022.{{Cite web|date=19 November 2020|title=E.On to cut almost 700 jobs in next two years|url=https://www.independent.co.uk/news/business/eon-job-losses-redundancies-renewable-energy-b1747436.html|access-date=23 November 2020|website=The Independent|language=en}}

In 2021, E.ON was ranked no. 56 in the Arctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle.Overland, I., Bourmistrov, A., Dale, B., Irlbacher‐Fox, S., Juraev, J., Podgaiskii, E., Stammler, F., Tsani, S., Vakulchuk, R. and Wilson, E.C. 2021. The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. Business Strategy and the Environment. 30, 1623–1643. https://onlinelibrary.wiley.com/doi/10.1002/bse.2698

Minister of Energy and Natural Resources of the Republic of Turkey Berat Albayrak attended the public offering gong ceremony of Enerjisa Enerji AŞ, whose shareholders are Hacı Ömer Sabancı Holding and German energy company E.ON.

Minister Berat Albayrak stated that the existence of a financially strong, stable and transparent energy market is a must for a solid economy, and drew attention to the fact that an average of 55 billion dollars of energy imports have been realized annually in the last 10 years.[https://enerji.gov.tr/haber-detay?id=262]

In March 2018, it was announced that E.ON would acquire renewable energy utility Innogy from its controlling shareholder RWE. The deal resulted in E.ON becoming a pure retail and distribution company. This was achieved through a complex €43 billion asset swap deal between E.ON, Innogy and RWE, where E.ON took over Innogy's retail and distribution business, while RWE took over both Innogy's renewable energy generation portfolio as well as E.ON's remaining energy generation assets. In addition, RWE took a 16.7% stake in E.ON and E.ON received a cash payment of €1.5 billion.{{cite news|url=https://www.ft.com/content/f6952a70-24a7-11e8-b27e-cc62a39d57a0|archive-url=https://ghostarchive.org/archive/20221211221243/https://www.ft.com/content/f6952a70-24a7-11e8-b27e-cc62a39d57a0|archive-date=11 December 2022|url-status=live|title=Eon to acquire Innogy in €43bn deal with RWE|last1=Massoudi|first1=Arash|date=11 March 2018|newspaper=Financial Times|access-date=11 March 2018|last2=Buck|first2=Tobias|url-access=subscription}}{{cite news|url=https://www.bloomberg.com/news/articles/2018-03-11/eon-agrees-to-buy-rwe-s-innogy-upending-german-utility-industry|title=EON to Acquire RWE's Innogy, Transforming German Energy Industry | first1 = Eyk | last1 = Henning | first2 = Aaron |last2 = Kirchfeld | first3 = Dinesh | last3 = Nair | first4 = Manuel | last4 = Baigorri |date=11 March 2018| agency = Bloomberg | access-date= 16 September 2018}} The deal was finalized in September 2019.

The key trends for E.ON are (as at the financial year ending December 31):{{Cite web |title=E.ON Bilanz, Gewinn und Umsatz {{!}} E.ON Geschäftsbericht {{!}} ENAG99 |url=https://www.wallstreet-online.de/aktien/eon-aktie/bilanz |access-date=5 November 2018 |website=wallstreet-online.de}}{{Cite web |title=E.ON Fundamentalanalyse {{!}} KGV {{!}} Kennzahlen |url=https://www.boerse.de/fundamental-analyse/EON-Aktie/DE000ENAG999 |access-date=2023-11-30 |website=boerse.de |language=de}}

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

{{main|PreussenElektra (nuclear energy company)}}

E.ON subsidiary PreussenElektra GmbH operates the Brokdorf, Grohnde, and Isar 2 nuclear power plants.{{Cite web|url=https://www.nuklearesicherheit.de/en/nuclear-facilities/nuclear-power-plants-in-germany/brokdorf-nuclear-power-plant/|title=Brokdorf nuclear power plant {{!}} Nuclear facilities|website=www.nuklearesicherheit.de|access-date=25 November 2019}}{{Cite web|url=https://www.nuklearesicherheit.de/en/nuclear-facilities/nuclear-power-plants-in-germany/grohnde-nuclear-power-plant/?sword_list%5B0%5D=grohnde&no_cache=1|title=Grohnde nuclear power plant (KWG) {{!}} Kerntechnische Anlagen|website=www.nuklearesicherheit.de|access-date=25 November 2019}}{{Cite web|url=https://www.nuklearesicherheit.de/en/nuclear-facilities/nuclear-power-plants-in-germany/isar-2-nuclear-power-plant/|title=Isar 2 nuclear power plant {{!}} Nuclear facilities|website=www.nuklearesicherheit.de|access-date=25 November 2019}} It is decommissioning Isar 1, Grafenrheinfeld, Unterweser, Stade and Würgassen nuclear power plants.

{{cite news

| url= http://www.world-nuclear-news.org/RS-Unterweser-gets-decommissioning-approval-07021801.html

| title= Unterweser gets decommissioning approval

| work = World Nuclear News

| date= 7 February 2018

| access-date=24 March 2018}}

It also holds minority stakes in the RWE-operated Gundremmingen and Emsland NPPs. According to the assets swap deal between E.ON and RWE, RWE will acquire these minority stakes.

E.ON was a major wind energy player across multiple countries. In October 2019, the renewable energy division EC&R was sold to competitor RWE. The sale included EC&R's assets in the UK, Sweden, Germany, Poland and the US.{{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=15 December 2011 |access-date=3 February 2016}} Notably E.ON UK, owned 30% of the London Array project, which is a 630 MW wind generation farm in the Thames estuary.{{Cite web|url=https://www.power-technology.com/projects/london-array/|title=London Array Offshore Wind Farm, Thames Estuary|website=Power Technology {{!}} Energy News and Market Analysis|language=en-GB|access-date=25 November 2019}} 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.{{Cite web|url=https://www.power-technology.com/projects/roscoe-wind-farm/|title=The Roscoe Wind Farm Project, Texas, USA|website=Power Technology {{!}} Energy News and Market Analysis|language=en-GB|access-date=25 November 2019}}

Tufanbeyli coal fired power station in Turkey, is 50% owned by E.ON.{{Cite web|date=2021|title=Facts & Figures|url=https://www.eon.com/content/dam/eon/eon-com/eon-com-assets/documents/investor-relations/en/presentations/210324_Facts_and_Figures_final.pdf}}{{Rp|page=48}}

E.ON Digital Technology (previously E.ON Business Services until January 2019, E.ON IT 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).{{cite web |url=http://www.eon.com/en/corporate/34643.jsp |title=E.ON Business Services GmbH – E.ON SE |website=Eon.com |date=1 January 2015 |access-date=3 February 2016 |url-status=dead |archive-url=https://web.archive.org/web/20120313185609/http://www.eon.com/en/corporate/34643.jsp |archive-date=13 March 2012 }}

E.ON UK sponsored the FA Cup for four years, from the 2006–07 FA Cup to the 2009–10 FA Cup.{{Cite news |date=2009-09-02 |title=E.ON calls time on FA Cup sponsorship |url=https://www.theguardian.com/football/2009/sep/02/eon-fa-cup-sponsorship |access-date=2024-06-03 |work=The Guardian |language=en-GB |issn=0261-3077}} The also included the FA Women's Cup and the FA Youth Cup was worth around £32 million.{{cite news |title=BBC NEWS – Business – E.On not to renew FA Cup backing |url=http://news.bbc.co.uk/1/hi/business/8233293.stm |access-date=3 February 2016 |website=News.bbc.co.uk}} E.ON was also the official energy partner of The Football League and sponsored 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.{{Cite web|url=https://www.handelsblatt.com/archiv/bis-2006-eon-und-bvb-verlaengern-sponsoring-vertrag/2133484.html|title=Bis 2006: Eon und BVB verlängern Sponsoring-Vertrag|website=www.handelsblatt.com|language=de|access-date=25 November 2019}}

E.ON Ruhrgas is the main sponsor of the IBU biathlon{{When|date=November 2009}} World Cup and is the main sponsor of the Ski jumping World Cup{{When|date=November 2009}}.

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.

E.ON has been a sponsor of Veloce Racing ever since Veloce joined electric off-road racing series Extreme E in 2021.{{Cite web |last=Morris |first=James |date=21 October 2023 |title=E.ON Energy Says Veloce Partnership Key To Promote Decarbonised Future |url=https://www.forbes.com/sites/jamesmorris/2023/10/21/eon-energy-says-veloce-partnership-key-to-promote-decarbonised-future/ |access-date=13 February 2023 |website=Forbes |language=en}} In 2024, E.ON became the title sponsor of the team to become E.ON Veloce Racing.{{Cite web |last=Brittle |first=Cian |date=6 February 2024 |title=Veloce upgrades E.On deal to title partnership for 2024 Extreme E season |url=https://www.blackbookmotorsport.com/news/veloce-eon-extreme-e-title-sponsorship/ |access-date=13 February 2024 |website=BlackBook Motorsport}}

Nottingham Forest has announced that E.ON will become the club's official training kit partner. The announcement comes as the Reds return to pre-season training on 3 July 2023. The energy company have partnered with the club since 2021 and have now struck a new deal which will see their logo appear on all men's and women's first-team training wear.{{cite web | url = https://insidersport.com/2023/07/03/nottingham-forest-extends-e-on-deal/ | title = Nottingham Forest extends E.ON deal ahead of 2023-24 season | last = Williams | first = Callum | date = 3 July 2023 | website = Insider Sport | access-date = 24 September 2023}}

Between 1998 and 2014, E.ON and its predecessor company VEBA spent more than Euro30 million ($41 million) supporting the Museum Kunstpalast, located next to the corporate headquarters in Düsseldorf.{{cite news|url=https://www.bloomberg.com/news/2014-03-21/pollock-s-elegant-lady-for-sale-as-eon-raids-art-hoard.html|title=Pollock's 'Elegant Lady' for Sale as EON Raids Art Hoard|last=Andresen|first=Tino|date=21 March 2014|work=Bloomberg News|access-date=22 December 2018|archive-url=https://web.archive.org/web/20140407071157/https://www.bloomberg.com/news/2014-03-21/pollock-s-elegant-lady-for-sale-as-eon-raids-art-hoard.html|archive-date=7 April 2014}}

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.Kelly Crow (20 March 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] {{Webarchive|url=https://web.archive.org/web/20170111205834/http://www.wsj.com/news/articles/SB10001424052702303802104579451193089700958?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303802104579451193089700958.html |date=11 January 2017 }} The Wall Street Journal. 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.

E.ON is also sponsor of Brain Bar, a Budapest-based, annually held festival on the future.{{cite web|url=https://www.eon.hu/hu/rolunk/tarsadalmi-szerepvallalas/tarsadalom/joev_-generacioja.html|title=Jövő generációja|website=www.brainbar.com|access-date=7 September 2018|archive-date=7 September 2018|archive-url=https://web.archive.org/web/20180907144733/https://www.eon.hu/hu/rolunk/tarsadalmi-szerepvallalas/tarsadalom/joev_-generacioja.html|url-status=dead}}

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