Sian Crampsie
E.ON reports that it has successfully completed the planned separation of its business operations into two segments.
The German energy giant will now focus on renewable energy, energy networks and customer solutions and on 1 January 2016 officially launched Uniper, a new entity for conventional power plant operations and energy trading.
E.ON will fully spin off Uniper in the second half of 2016 following its shareholder meeting in June.
E.ON announced last year that it would reorganise its business in response to the challenging and changing energy utility environment. The firm says that the "clarity and decisiveness" of its strategy are unrivalled. "Rather than just changing our organisational setup, we're spinning off our conventional-generation and energy-trading businesses to form a company, called Uniper, that will become something completely independent," said E.ON CEO Johannes Teyssen. "Separating these businesses, which were formerly managed together, will make both companies more agile and sharpen their profile for customers and investors."
Teyssen added that the move would free E.ON from continually having to make compromises. "Our ambition is for both companies ... to become leading players in their respective energy worlds," said Teyssen.
Uniper has a generation portfolio of approximately 40 GW operating in Europe and Russia, as well as a strong position in global energy trading, sayd E.ON. "Hardly any other European company has a comparable power and gas portfolio and knows global energy flows and the success factors in this business as well as we do," said Uniper CEO Klaus Schäfer.
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