EOn creates EOn Energy Trading; reveals investment strategy
German utility EOn has announced plans to align its trading and power generation businesses “on more European lines,” according to a company statement, “in order to seize earnings and growth opportunities created by the integration of Europe’s energy markets.” All European trading operations, including power, gas, coal, oil and carbon emission allowances, will be combined in a new unit called EOn Energy Trading.
Another new unit will manage the construction of coal-fired and gas-fired power plants across Europe. In the next five years EOn intends to build 18 new power plants with a total generating capacity of more than 13,500 megawatts. EOn also plans to create a new unit combining its renewable-energy operations (with the exception of hydroelectricity) and its long-term carbon credit sourcing, which will be further developed as part of a “substantial” expansion program.
The utility plans to make or
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