Global Units
Global units bring together our businesses that operate on Europe's converging markets and that tend to track global trends. These businesses, some of which are also increasingly active in regions outside Europe, will be managed across national boundaries. The objective of this functional approach to pool expertise and leverage synergies.
Our five global units are Generation, Renewables, New Build & Technology, Gas, and Trading.
Our five global units are Generation, Renewables, New Build & Technology, Gas, and Trading.
Our Generation global unit oversees and coordinates the operations of our generation portfolio in Europe. It groups our power plants into four fleets by fuel type and manages these fleets across national boundaries. This functional setup significantly enhances our ability to share best practices, increase efficiency, and reduce costs.
Our generation fleet is one of the biggest in Europe. We have major asset positions in Germany, the United Kingdom, Sweden, Italy, Spain, France, and the Benelux countries. We also have one of the broadest and most balanced fuel mixes in the industry.
Our generation fleet is one of the biggest in Europe. We have major asset positions in Germany, the United Kingdom, Sweden, Italy, Spain, France, and the Benelux countries. We also have one of the broadest and most balanced fuel mixes in the industry.
Our Renewables global unit plays a key role in expanding renewables capacity across Europe and North America. Renewables are good for the environment and have great potential as a business. That's why we're steadily increasing renewables' share of our generation portfolio by investing in wind, solar, biomass, biomethane, and marine energies. Our objective is to be a global leader in renewables.
This global unit brings together our project-management and engineering expertise to support the construction of new power plants and the operation of existing plants across E.ON. We also bundled within this unit the execution of our research and development projects for the E.ON Innovation Center.
Our Gas global unit operates along the entire gas value chain. It has a growing exploration and production business and is also active in the global liquefied natural gas business. We rank among Europe's largest gas companies and supplies gas to resellers (regional and municipal utilities), large industrial customers, and gas-fired power stations in Germany and in several other European countries. Its geographically diverse portfolio of long-term supply contracts with key producing countries makes it a mainstay of gas supply security in Europe. We are also engaged in gas storage in Germany, Austria, Hungary, and the U.K. and in gas transmission in Germany.
As the link between E.ON and the world's wholesale energy markets, our Trading global unit buys and sells electricity, natural gas, oil, coal, freight, biomass, and carbon allowances. It ensures the best-possible utilization of our generation fleet in Europe, trades and procures worldwide the fuel and carbon allowances needed to operate this fleet, and locks in margins for our generation in forward markets. By doing so, it aggregates— and on balance, reduces— E.ON's commodity price risk.
