Production capacity exchange agreement between E.ON and GDF SUEZ fully finalised
On 4 November, GDF SUEZ and E.ON finalised the production capacity exchange deal agreed in July, after the relevant competition authorities issued the necessary authorisations.
As from today, the GDF SUEZ Group acquires conventional power stations from E.ON with a total capacity of 860 MW, as well as approximately 132 MW of hydroelectric capacity. Electrabel also acquires around 700 MW of offtake rights from nuclear power stations in Germany.
In return, E.ON acquires from GDF SUEZ the coal- and biomass-fired power station at Langerlo (556 MW) and the Vilvoorde gas-fired power station (385 MW), as well as the right to offtake approximately 770 MW from nuclear power stations, with supply points in Belgium and the Netherlands.
The now finalised exchange will encourage competition on the integrated electricity markets of North-West Europe. By this transaction, Electrabel reduced her generation shares in Belgium from 83 % to 65% in about one year. For E.ON the swap with GDF SUEZ forms part of the measures pledged by E.ON to the EU-Commission in 2008 to promote competition on the German energy market. In all, E.ON made a commitment to sell about 5,000 MW of generation capacity and its ultrahigh-voltage transmission network in Germany.
- Farge coal-fired power station (350 MW)
- Zolling coal-fired power station (449 MW)
- Gas turbines at Zolling (50 MW)
- A 50% stake in the biomass generation unit (20 MW) at Zolling
- The Jansen power station group: - Reisach pump storage hydro plant (99 MW) - Trausnitz hydro-electric plant (1,8 MW) - Tanzmühle power plant comprising a pump storage unit (28 MW) and a hydro-electric unit (3,3 MW)
- Nuclear power offtake rights from the Krümmel, Gundremmingen and Unterweser power stations (700 MW)
- Langerlo coal-fired power station (556 MW)
- Vilvoorde natural-gas-fired power station (385 MW)
- Nuclear power offtake rights from the Doel 1, Doel 2 and Tihange 1 power stations (770 MW), supplied to Belgium and the Netherlands.
This press release includes prospective statements based on the estimates and forecasts currently made by the management of the E.ON Group, as well as further information now available from E.ON. Various known and unknown risks, uncertainties and other factors may generate material differences between the future results, financial situation, development or performance of the company and the estimates supplied here. E.ON does not intend to and does not take any responsibility whatsoever for updating these prospective statements or adapting them to later events or developments.