fév.
19
2009 | E.ON to sell generation capacity to competitors
E.ON intends to sell over 2,200 MW of generation capacities from German power stations to Electrabel and EnBW. Only a few weeks after the EU Commission’s approval, E.ON is implementing some of the pledged measures to promote competition. In all, E.ON made a commitment to sell around 5,000 MW of power station capacity and its ultrahigh-voltage transmission network in Germany.
E.ON and Electrabel, a Belgian energy company belonging to the French GDF Suez Group, have today signed a Memorandum of Understanding (MoU) for a substantial swap of generation capacity. Under the MoU, E.ON will sell around 1,700 MW of generating capacity and power procurement rights in Germany to Electrabel in return for the same amount of capacity and power procurement rights in Belgium.
A MoU has been signed with EnBW on the sale of E.ON’s stakes in Lippendorf lignite-fired power station (446 MW) and Bexbach hard coal-fired power plant (79 MW).
E.ON CEO Wulf Bernotat said: “Following our agreement with Statkraft, we have taken another step in implementing our commitment to the European Commission through the intended capacity swap with Electrabel and the sale of stakes to EnBW. When completed, these transactions will enrich the competitive landscape in Germany and Belgium, thereby further stimulating competition throughout Europe. For E.ON, the asset swap with Electrabel would also mark our successful entry into Belgium’s power generation market. This one transaction would give us more than 12% of the Belgian market, making us the country’s third biggest power producer. This position would be considerably enhanced by the coal-fired power plant we plan to build in Antwerp, which is scheduled to become operational in 2014. By entering the Belgian market, we’re continuing to rapidly expand our presence in Europe. E.ON is currently active in 30 countries, giving us a European position unmatched by any other energy company.”
On completion of the transaction, E.ON will acquire from Electrabel Langerlo coal-fired power station (556 MW) and Vilvoorde gas-fired power station (385 MW) plus an aggregate of approximately 770 MW of power procurement rights from Doel 1, Doel 2 and Tihange 1 nuclear power stations with delivery points in Belgium and the Netherlands.
In return, Electrabel will acquire from E.ON stakes in Farge (350 MW) and Zolling (449 MW) coal-fired power stations. Electrabel will also acquire 50 MW combined-cycle gas turbines and a 50% stake in a 20 MW biomass generating unit, both of which are located at Zolling power station. The agreement also includes the Jansen power plant group consisting of Reisach pump storage hydro plant (99 MW), Trausnitz hydroelectric plant (1.8 MW), and Tanzmühle power plant comprising a pump storage unit (28 MW) and a hydroelectric unit (3.3 MW). In addition, Electrabel will acquire an aggregate of approximately 700 MW of power procurement rights from Krümmel, Grundremmingen and Unterweser nuclear power stations.
The signing of final agreements and the completion of the transactions are expected in the first half of 2009. Both transactions are subject to approval by antitrust authorities and the relevant internal bodies.
Source : Communiqué E.ON
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