The days of cheap, abundant energy are over. The International Energy Agency forecasts that the world’s energy consumption will double by 2030. With demand increasing and resources getting scarcer, global competition for oil and natural gas reserves is becoming fiercer. Even within Europe, competition for energy is likely to intensify as EU energy markets converge.

The rapid pace of change in the utility industry is leading to higher prices. The cost of generating electricity in Europe is being pushed up by higher fuel prices, demand-driven increases in the price of generating equipment, and the allocation of fewer emission allowances. Moreover, Europe needs to expand and upgrade its transport and distribution networks for power and natural gas. Added to these factors are rising public expectations. As an integrated energy utility, we’re expected to:

 

• offer our customers fair prices
• face keener competition in Europe
• take public concerns into consideration regarding nuclear power
• further reduce our environmental impact
• significantly cut our carbon dioxide emissions.
  

E.ON is well prepared for its changing operating environment. Our ambitious investment program is helping shape the energy marketplace of the future. We intend to adjust our broad energy mix to meet the new challenges we face. A key focus will be on significantly expanding our renewables capacity. Nuclear power will continue to play an important role. And we’re tapping new supply sources and pathways so that we can continue to ensure security of supply for our customers.

 

We aim to satisfy our customers. We also want to be a reliable energy supplier and a source of helpful information about energy. That’s why we offer our customers tips on how to use energy more efficiently, innovative products that incorporate renewable energy and carbon offsets, as well as information about energy prices.

 

We’re committed to business ethics across our organization. Engaging in fair business practices, helping fight corruption, and procuring goods and services in a responsible manner are just some of the ways we demonstrate this commitment.

 

Corporate responsibility is of growing importance on global financial markets. Increasingly, institutional investors and rating agencies consider sustainability issues when evaluating companies.