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E.ON to open grid to competitors
24 June, 2008German energy giant E.ON said on Tuesday that it is willing to combine its power grid with German competitors to make it a more attractive proposition.
German energy giant E.ON said on Tuesday that it is willing to combine its power grid with German competitors to make it a more attractive proposition.
The news follows E.ON's decision to sell its grid after the European Commission urged it to take steps to ease access to customers and improve competition by separating networks from power companies' other activities.
"Following the decision to sell our high-voltage power grid we are very open minded on a federal level towards an integration in a German network association," an E.ON statement said.
Companies have come out in favour of the move, with RWE and Vattenfall both expressing an interest in forming a German network.
E.ON is the world's largest utility company and is widely expected to complete a takeover of Endesa's French units this week.
This follows last week's acquisition of Endesa Italia, which E.ON has part owned since 2007 when it purchased 80 per cent of the unit after a failed bid to buy the Spanish company.
The long, drawn-out sale of British Energy (BE) to EDF Energy has come to an end after the French energy firm bought BE for £12.5 billion, it has been reported.
Government hopes to have an EDF Energy-British Energy (BE) tie up within two weeks have been dubbed "optimistic" by the British nuclear company, according to a recent report.
Gordon Brown is facing the prospect of a major defeat over the government's reluctance to impose a windfall tax on energy companies, it has been reported.
The City of London has launched a campaign against Gordon Brown in order to convince him that introducing a windfall tax on energy companies should be avoided.
TaylorWimpey has reported phenomenally poor first half results for the year so far, recording a loss of £1.5 billion, it has been announced.