E.ON hydro power plants transferred to Austrian energy utility Verbund
Thirteen of E.ON’s hydro power plants situated on the river Inn are being transferred to Austrian utility Verbund. In exchange, E.ON has received a cash settlement and electricity drawing rights. The transaction follows the signing of the respective contracts in June.
The power plants transferred have an overall installed capacity of 312 megawatts with a yearly output of approximately 1800 gigawatt hours. Alongside a cash settlement E.ON receives drawing rights from Austrian hydro storage plant Zemm-Ziller.
The transaction is another important step to realise the measures E.ON has pledged to take, in consultation with the EU Commission, to promote competition in the energy market.
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