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E.ON

Not to be confused with EOn.

E.ON SE
FormerlyE.ON AG (2000-2012)
Company typePublic
FWB: EOAN
DAX Component
ISINDE000ENAG999 Edit this on Wikidata
IndustryElectric utility
Predecessor
Founded2000 (2000)
Headquarters
Essen
,
Germany
Area served
Europe
United States
Key people
Leonhard Birnbaum (CEO and chairman of the executive board)
Karl-Ludwig Kley (chairman of the supervisory board)
ProductsElectrical power
natural gas
ServicesElectricity generation and distribution
natural gas exploration, production, transportation and distribution
RevenueIncrease €115.66 billion (2022)[1]
Decrease €2.242 billion (2022)[1]
Increase €2.728 billion (2022)[1]
Total assetsIncrease €134.009 billion (2022)[1]
Total equityIncrease €21.867 billion (2022)[1]
Number of employees
69,378 (2022)[1]
SubsidiariesE.ON Ruhrgas
E.ON UK
E.ON Sverige
Websitewww.eon.com

E.ON SE[2] is a German multinational electric utility company based in Essen, Germany. It operates as one of the world's largest investor-owned electric utility service providers. The name originates from the Latin word aeon, derived from the Greek αἰών aion, which means age or "infinity", with the period being added to create secondary meanings of "energy" (E) and "illumination" (ON).[3] The company is a component of the Euro Stoxx 50 stock market index, DAX stock index and a member of the Dow Jones Global Titans 50 index.[4]

It operates in over 30 countries and has over 50 million customers.[5] Its chief executive officer is Leonhard Birnbaum.[6] E.ON was created in 2000 through the merger of VEBA and VIAG.

In 2016, it separated its conventional power generation and energy trading operations into a new company, Uniper, while retaining retail, distribution and nuclear operations.[7] E.ON sold its stake in Uniper through a stock market listing[8] and sold the remaining stock to the Finnish utility Fortum.

In March 2018, it was announced that E.ON would acquire the utility portion of renewable energy utility Innogy through a complex €43 billion asset swap deal between E.ON, Innogy and RWE.[9][10] The deal was approved by the EU antitrust authorities in September 2019, with final execution taking place in July 2020.[11]

In 2019, E.ON became the first of the "Big Six" UK power companies to switch all of its British electricity customers entirely to renewable electricity.[12] However the company still owns coal power in Turkey.[13]: 48 

In 2020, E.ON UK announced that it would be migrating customers over to a new subsidiary brand called E.ON Next. E.ON Next also has two million migrated customers from commercial energy firm Npower and Powershop after acquiring both companies.[14]

  1. ^ a b c d e f "Annual Report 2022" (PDF).
  2. ^ "Structure". Archived from the original on 22 November 2012. Retrieved 20 November 2012.
  3. ^ "Questions and Answers about E.ON Group – What does E.ON mean?". Archived from the original on 4 January 2012. Retrieved 22 December 2011.
  4. ^ "#NAME# Liste – #NAME# Werte – boerse-frankfurt.de". Boerse-frankfurt.de. Archived from the original on 19 November 2015. Retrieved 3 February 2016.
  5. ^ "The E.ON Group: a unique company". Retrieved 20 March 2023.
  6. ^ "Members of the Board Management & Supervisory Board". Eon.com. Retrieved 8 April 2021.
  7. ^ "E.ON ditches nuclear spin-off plan". DW. 10 September 2016. Retrieved 16 November 2016.
  8. ^ Cite error: The named reference dw120916 was invoked but never defined (see the help page).
  9. ^ Cite error: The named reference ft1110318 was invoked but never defined (see the help page).
  10. ^ Cite error: The named reference bloomberg110318 was invoked but never defined (see the help page).
  11. ^ "E.ON to tackle Npower after EU clears Innogy takeover". Reuters. 17 September 2019. Retrieved 25 November 2019.
  12. ^ Hodges, Jeremy (9 July 2019). "EON Switches All U.K. Customers to 100% Renewable Power". Bloomberg. Retrieved 9 July 2019.
  13. ^ "Facts & Figures" (PDF). 2021.
  14. ^ "StackPath". www.choose.co.uk. Retrieved 1 June 2021.
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