EDF, EnBW and E.ON concluded final agreements on a swap of electric drawing rights and generation assets
– By Stephen Heiser –
EDF and Charbonnages de France completed the sell to E.ON of their stake in SNET EDF, EnBW, a German energy supplier jointly controlled by EDF, and E.ON have announced they have completed the agreements signed on September 30 on a swap of electric drawing rights and generation assets between France and Germany.
EDF and Charbonnages de France also completed the sell to EON of their stake in SNET, of respectively 18,75% and 16.25%.
As part of the transactions, EnBW acquires :
– drawing rights for 800 MW of nuclear energy in Germany from E.ON’s nuclear portfolio,
– E.ON’s majority shareholding in the Rostock coal power station, for a capacity of 256 MW,
– a drawing right for 159 MW from E.ON’s coal-fired power station of Buschhaus,
in addition to the generation capacity that EnBW already acquired from E.ON in May 2009 in the Lippendorf (445 MW) and Bexbach (79 MW) power stations. In total, EnBW then has access to an additional 1,740 MW generation capacity in Germany.
In return, E.ON acquires drawing rights of 800 MW of nuclear power in France based on EnBW’s historic drawing rights from EDF’s nuclear generation. E.ON becomes the sole shareholder in SNET, the France’s third largest electricity supplier.
The EDF Group, one of the leaders in the energy market in Europe, is an integrated energy company active in all businesses: generation, transmission, distribution, energy supply and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 95% of the electricity output involves no CO2 emissions. EDF’s transport and distribution subsidiaries in France operate 1,274,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to more than 38 million customers around the world, including more than 28 million in France. The Group generated consolidated sales of € 64.3 billion in 2008, of which 47% in Europe excluding France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.