Electricity industry: new bosses at eon and rwe take the rudder

Electricity industry: new bosses at EON and RWE take the rudder

As johannes teyssen as a head of the EON group, he took the leadership of a power giant. More than 275 billion kilowatt hours EON produced then. Only a good tenth has remained abstained because teyssen on thursday (1. April) the rudder to his successor leonhard birnbaum. When the last three nuclear power plants are switched off at the end of next year, EON will have passed itself completely from electricity production.

Network operator instead of energy generators

Teyssen has completely reduced the group in recent years – from the kilowatt champion, the number one of the energy networks has become. Under the prere of the nuclear phase-out and the energy transition, he first had the power generation from coal and gas and then redistributed the business fields of the two companies in a spectacular deal with the long-term rivals RWE.

Eon took over the electricity and gas networks and customer business of RWE subsidiary innogy and gave his renewable energies to RWE. Teys herself took a position change during this time. At his place of office, he had called the nuclear power as indispensable because they keep costs low for customers without burdening the climate. Meanwhile, nuclear energy for him is "too expensive, too risky and politically too crisp", how he should do the handelsblatt said. At the subject of nuclear power, he and his colleagues had themselves "in the labyrinth".

Dominant as once in production is EON now during transport and sale of electricity. With a long of around 700.000 kilometers EON operates this with a distance from the most comprehensive distribution network in germany. The number of customers is also unuberric with 14 million in germany. In europe, eon even supplies a good 40 million households and companies with electricity and gas and sees itself with a total length of its electricity grid of 1.5 million kilometers than "the turntable of the european energy transition".

Small electricity providers worried

Smaller provider see that with concern. Eon and RWE could "mittelstand competitors from the market", warn. In many german regions, eon will reach a market share of up to 70 percent in electricity sales. With two lawsuits before the general court of the european union, they therefore try to bring the approval of the deal by the brussels commission. Teys SHOW SOFFORDS given the coarse number of electricity suppliers in germany for unfounded. He can refer to numbers of the federal network agency, after which households can be changed on average between 138 electricity providers elections.

The competition fears the financial strength of EON in digitizing the energy industry. "Who does not work fully digitally, will not work soon", has teyssen successor birnbaum already spent as a motto. In conjunction with the energy networks, digitization offers rough growth opportunities for EON, because whether solar system or windmill, all new systems "have to be connected to our networks". The more determined the energy transition will be driven forward, the better for EON.

Behavior borsen reaction

At the borse, the new EON has so far no rough enthusiasm. The share price has risen little since the disclosure of deal with RWE, while the RWE share has increased significantly. Eon have one "considerable catch-up potential", rooms in teys in the past week when he presented his last EON balance sheet.

At RWE, the chief change is followed at the end of april if the CEO rolf martin schmitz changes the staff to his previous financial boss markus krebber. Schmitz was much stronger in criticism than teyssen as a boss of the larger european lignite overcurrent in recent months. Especially in wrestling around the preservation of the hambacher forst, he became the buhmann of the climate activist.

"There is no chance to stand out the forest", the engineer born in monchengladbach on the edge of the braunkohlerevier’s born engineer long. In the end, the preservation of the bonded forest in the coal exit law was cited. RWE got a dechipement of 2.6 billion euros for the lignite-out promised. Critics call the one billion gift.

Dear as the lignite, schmitz wants to talk about okostrom. RWE is now one of the worldwide leader in renewable energies. In more than 15 countries, wind ratings turn or supply solar parks of the essen electricity. The current production figures do not reflect the desired change yet. Last year, there was a fiveft of the RWE generated electricity from renewable energies. That should change step by step. By the year 2040, after which from the last lignite power plant, RWE wants to be climate neutral.