E.ON sells shares in Mehrum power station to Stadtwerke Hannover

E.ON is selling its 50 % stake in Kraftwerk Mehrum GmbH to Hanover municipal utilities (SWH). Today the two companies signed the relevant contracts in Hanover. The price to be paid by SWH was not disclosed. The sale does not have any consequences for the 150 staff members of Mehrum power station because it is merely a transfer of shares among the power plant’s owners.

The transaction, which is to be completed as of 1st January 2010, is still subject to approval by the SWH supervisory board and the antitrust authorities. It is not subject to any further approvals by E.ON supervisory bodies.

The sale of the stake in Mehrum power station is another step towards implementing the commitment made by E.ON to the EU Commission in May 2008. The company pledged to sell about 5,000 MW of power station capacity and its ultrahigh-voltage transmission network in Germany. In this connection, E.ON has already agreed with Statkraft of Norway, Electrabel of Belgium, EdF of France and EnBW of Germany on the exchange of power generation capacity and the sale of power station interests and has sold 13 hydro power stations on the river Inn to an Austrian energy supplier, Verbund.

In all, E.ON has therefore already signed agreements for the sale of approx. 4,800 MW of power station capacity under its commitment, thus considerably strengthening competition in the German and European energy markets.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group management and other information currently available to E.ON. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON AG does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.