Germany’s E.ON took a step closer on 17 September in acquiring Innogy’s distribution and consumer solutions business as well as certain of its electricity generation assets after the European Commission gave its approval but the EU’s completion chief stressed the decision is conditional to full compliance with a commitments package offered by E.ON.

Competition Policy Commissioner Margrethe Vestager said it is important that all Europeans and businesses can buy electricity and gas at competitive prices. “Today, we can approve the acquisition of Innogy by E.ON because the commitments offered by E.ON will ensure that the merger will not lead to less choice and higher prices in the countries where these companies operate,” she said.

E.ON and RWE, which controls Innogy, are both energy companies based in Germany. They are active across the energy supply chain, from generation and wholesale to distribution and retail supply of electricity and gas.

 

Full article available: https://www.neweurope.eu/article/eu-commission-clears-e-ons-acquisition-of-innogy-under-conditions/

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