E.ON in talks to sell UK power unit
LONDON, ENGLAND - German utility E.ON AG is in advanced talks to sell its British electricity distribution network to a consortium of foreign investors for up to 3.5 billion pounds, the Sunday Times reports citing people familiar with the matter.
The paper says the consortium, which it says approached E.ON, comprises the Abu Dhabi Investment Authority, Canada Pension Plan and Macquarie Bank.
The electricity distribution unit is made up of the former Midlands and East Midlands electricity companies and provides power to more than 5 million homes in central England, the paper says.
Related News
Coal demand dropped in Europe over winter despite energy crisis
PARIS - The EU burned less coal this winter during the energy crisis than in previous years, according to an analysis, quashing fears that consumption of the most polluting fossil fuel would soar as countries scrambled to find substitutes for lost supplies of Russian gas.
The study from energy think-tank Ember shows that between October 2022 and March 2023 coal generation fell 27 terawatt hours, or almost 11 per cent year on year, while gas generation fell 38 terawatt hours, as consumers cut electricity consumption in response to soaring prices.
Renewable energy supplies also rose, with combined wind, solar and hydroelectric output…
