The German energy group E.ON has established a new procurement and marketing business unit for gas and power, which will be in charge of the German, British and Swedish markets as of 1 July 2017. It will be working mostly on wholesale energy transaction markets and on grid operators’ balancing markets.
The business unit will purchase power and gas for customers and market the production from renewable sources for the E.ON affiliates. E.ON’s former energy trading business market access team was transferred to Uniper, which had been spun off in September 2016. With this reorganization, E.ON is currently increasing its foothold in Germany, the United Kingdom and Sweden. E.ON already entered the Hungarian and Czech markets respectively in October 2016 and January 2017, while it plans to enter the Italian market in January 2018.
The shareholders of German energy group E.ON have approved the spin-off and listing of Uniper, its conventional power generation subsidiary. Uniper, which groups E.ON's conventional power generation assets (around 40 GW of hydro, natural gas, coal power assets) and global energy trading, operates independently from E.ON. E.ON now focuses only on energy networks, customer solutions, and renewables. Under this new scope, E.ON's earnings come from regulated and quasi-regulated businesses, thus reducing its exposure to fluctuating commodity prices and exchange rates.
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