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E.ON (Germany) will invest EUR48bn by 2030 amid expected power demand surge

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Germany’s E.ON has reported its 2025 annual results. E.ON generated an adjusted Group EBITDA of EUR9.8bn in fiscal year 2025, at the upper end of the company’s guidance range of EUR9.6bn to EUR9.8bn and exceeded the prior-year figure by 9% (2024: EUR9bn). The company forecasts earnings for 2026 in the range of EUR9.4bn to EUR9.6bn, expecting them to rise to around EUR13bn by 2030.

In 2025, E.ON Energy Networks distributed 360 TWh of electricity, including 215 TWh in Germany (+2%), 33 TWh in Sweden, and 23 TWh in Hungary (stable), and 198 TWh of gas, including 156 TWh in Germany (stable), 24 TWh in Romania (-4%), and 12 TWh in Hungary (-8%). E.ON Energy Retail supplied 46.8 million customers (-1%), including 36.4 million for electricity (-0.5%) and 10.4 million for gas (-3%), mainly in Germany (13.6 million, 52 TWh of electricity and 63 TWh of gas sold), the United Kingdom (8.3 million, 39 TWh of electricity and 48 TWh of gas sold), Türkiye (11 million, 52 TWh of electricity and 63 TWh of gas sold), and the Netherlands (3.9 million, 8 TWh of electricity and 25 TWh of gas sold) 

In addition, the company has unveiled its 2026–2030 investment program, totaling around EUR48bn in investments (up from EUR43bn in its previous 2024–2028 plan) (E.ON press release, 25/02/2026). The investment plan includes:

  • EUR40bn allocated to its Energy Networks business to meet the continuously growing infrastructure needs of the European energy system. According to the press release, "the expansion of renewables, new industrial consumers, and the sharp rise in connection requests for battery storage and data centers are significantly increasing the demands placed on distribution networks".
  • In its Energy Retail division, E.ON plans to invest around EUR2.5bn, mainly in digital platforms, e-mobility, and flexible customer offerings.
  • Around EUR5bn is assigned to Energy Infrastructure Solutions, focusing for example on "projects related to district heating, industrial decarbonisation solutions, local energy infrastructure, and battery storage".