German energy group E.ON has presented and confirmed its new strategic and finance plan, reiterating its aim to become a leading company of the distributed, renewable, and digital energy world.
The group's transformation will be carried out in three phases. E.ON plans to complete the spinoff of Uniper pending the approval of the shareholders in June 2016. It also intends to list 53.35% of Uniper shares on the stock market later in 2016; further stake sales in Uniper are not expected before 2018. Afterward, E.ON will focus on energy networks, customer solutions, and renewables. Under its new scope, E.ON's future earnings will come from regulated and quasi-regulated businesses, thus reducing its exposure to fluctuating commodity prices and exchange rates.
E.ON's conventional power generation subsidiary Uniper plans to reduce debt by cutting costs and by selling at least €2bn of assets by 2018.