The new face to Europe’s Commodity markets: E.ON successfully starts operations at E.ON Energy Markets GmbH
Today marks a significant milestone in the integration of innogy into the new E.ON: On October 1st, the newly built E.ON Energy Markets GmbH (EEM) successfully entered the market as the groups new Market Facing Entity for energy sourcing. The new entity is jointly led by the two Managing Directors Sven Otten and Axel Gerhardy.
The innogy integration, successfully closed in June 2020, makes the E.ON one of the leading players in the European energy markets. The emerging sales portfolio comprises more than 500 terawatt hours (TWh) power and gas supplies across Europe, serving more than 40 million customers.
Sven Otten said: “E.ON wants to play a decisive role in the transformation of the energy world and to create a better, more sustainable world for everyone. We, as Energy Markets, have the opportunity to play an important part in shaping the new E.ON and to support these goals.”
Axel Gerhardy added: “We are very proud that our teams ensured this timely go-live and a smooth start of EEM. This is a great achievement for E.ON, as it was set up under the constraints of the current COVID-19 situation.”
EEM’s main purpose is the bundling of access to traded supply markets for the regional units of E.ON, bundling of the related risks and to perform services and value-add activities. In a first phase, until the end of 2021, EEM is planned to provide market access for the country portfolios of Germany, the Netherlands and the UK. The new organization bundles the energy sourcing of former E.ON and innogy businesses and thus contributes as well to the group’s planned synergies.