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E.on Will Sell Electricity Grid - In Order To Escape Destruction
From Anselm Waldermann
It is a U-turn 180 degrees: E.on will be single electricity grid and power plants sell voluntarily. Thus, the energy group the dismantling by the EU Commission earlier. Competitor RWE is appalled, the Federal Government feels betrayed, consumer cheer.
Berlin - It could be one of the grßten transactions of the year in Germany: The energy giant E.on examine the sale of its transmission networks. This was announced by the Group this afternoon. Earlier, CEO Wulf Bernotat the possible sale with German Chancellor Angela Merkel (CDU) discussed, said a government spokesman in Berlin. The government note that the group "business reasons" this step was investigating.
DDP
E.on high-voltage line: German country-wide is about 10,000 km
The power lines should the group a value of several billion euros. For E.on the sale would be a strategic U-turn by 180 degrees. Without networks would the company on the German electricity market at a mere producers and traders. The enormous market power that E.on repeatedly accused would be a good part broken.
With the sale E.on apparently wants the dismantling by the EU Commission pre-empt. The top European authority had repeatedly warned that the major electricity companies away from their nets, so as finally to more competition. This pressure is different now appears the group.
Possibly the decision has the advantage that E.on for his network is still a fairly good price to demand. If there is a forced break-up of energy companies, could provide evidence of their networks still probably only yourself. Total E.on has more than 10,000 kilometers high and high voltage cables.
Declining prices with independent network operators
the federal government face the E.on plans to little understanding. Chancellor Angela Merkel (CDU) and Economics Minister Michael Glos (CSU) in Brussels had repeatedly lobbying for the German electricity companies operated - and in the interests of E.on and Co. against a dismantling pronounced. That E.on now from the joint ausschert front, the government as treason happen.
On the other German energy companies must Vorpreschen of E.on as a shock effect. The number two in the market, RWE, today announced immediately clear that on their own network festhalte. Precisely because the security there "for good reasons," said a spokesman. Only yesterday, RWE chief Juergen Grossmann
before blackouts in the summer warned.
rival EnBW will also not from its transmission network separated. One plane of a voluntary separation, said a spokesman in Karlsruhe. Vattenfall, however, includes a sale of its transmission network is not enough. "We consider all options. There are also other possible ownership structures," said a spokesman.
consumer are thrilled. They had always demanded that the electricity grid and generation should be separated. Only an independent network operators can ensure that all electricity providers to use lines equally. This competition will be revived, the prices tend to hit.
If the lines to locusts sold?
Who E.on the network could buy, however, is unclear. It is only that interested parties bring a lot of money. The Russian energy company Gazprom had repeatedly interest in the German market show. However, the Russians, the German electricity network strictly regulated by, inter alia, the Federal Network Agency.
is a likely entry of financial investors. They would also bring enough money to much-needed investment in the outdated lines and poles to lift. In return, guarantees the operation of an electricity network secure long-term returns without high risk.
E.on even stated that the buyer of the transmission networks could be an operator who is not in the field of electricity generation or electricity supply was active - which speaks for financial investors. In government circles says only that a German investor would prefer. The network should not be in foreign hands.
Generally, the federal government plans E.on sceptical. According to a report by the Frankfurter Allgemeine Zeitung "was Merkel about the projects of E.on chief Wulf Bernotat not pleased because the government in Brussels for months against plans to dismantle the EU Commission defended. Last Germany had even allies for an alternative solution found.
At this "third option" we firmly believe, said today a government spokesman. This provides for the organizational separation of electricity production and transport, but not the ownership unbundling. Ironically today to discuss the European economic ministers in Brussels on this proposal.
core is E.on in his decision but free. The government spokesman clarified: "The question of ownership of the networks is a matter for the companies."
"It smells like a diversionary manoeuvre"
criticism came from Hesse Economics Minister Alois Riehl (CDU). "From the consumers promises to be a sale of E.on networks no noticeable decline in electricity prices." Rhiel suggested instead a forced sale of individual power plants. This competition could better be revived. The four big corporations E.on, RWE, Vattenfall and EnBW currently have 80 percent of the total power plant capacity in Germany.
it may now even faster to a power plant sales than expected. Because E.on will not only about his transfer separate networks - but also of production capacity in the volume of 4800 megawatts. This corresponds to the performance of five major Atommeilern. The power plants will be sold to competitors, said E.on.
Apparently, the Group intends in this way the current antitrust procedures of the EU Commission to settle. E.on fears a multi-billion penalty. After group claims there is already an agreement with Brussels. The EU Commission announced an agreement.
Bärbel Höhn, Group Vice-the Greens, remains skeptical. "The smell of a red herring. E.on his money printing machines will never voluntarily sell."
With material from dpa-AFX/ddp/Reuters
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