>
>
21
E.ON and GdF Suez sign agreements to swap about 1,700 MW of
power capacity. E.ON divests 860 MW of conventional capacity,
130 MW of hydro capacity, and 700 MW of power procurement
from nuclear assets. In return, E.ON acquires from the GdF Suez
Group two conventional power stations in Belgium and 770 MW
of power procurement rights from nuclear assets with delivery
points in Belgium and the Netherlands.
August
Management and employee representatives in Germany agree
on the basic principles and an overall framework for implementing
PerformtoWin, E.ON's Group-wide efficiency-enhancement
program, in a socially responsible manner. This is followed in
November by an agreement on a comprehensive plan to provide
employees in Germany with security on job-related issues stem-
ming from the implementation of PerformtoWin.
A new 440 MW combined cycle gas turbine plant with integrated
combined heat and power enters service in Malmö, Sweden. The
Öresundsverket plant has an efficiency of 58 percent, making it
one of the most efficient power plants in Europe.
September
E.ON's 457.5 MW wind farm in Big Spring, Texas, becomes fully
operational, followed one month later by another E.ON wind
farm in Roscoe, Texas. With 627 turbines and roughly 782 MW of
installed capacity, Roscoe is the world's largest wind farm. To-
gether, the two wind farms produce enough electricity to power
more than 365,000 homes. In November, Stony Creek wind farm
in western Pennsylvania enters service, increasing E.ON's in-
stalled wind capacity in the United States to about 1,700 MW.
E.ON reaches an agreement with EdF and EnBW under which
the companies will swap a significant amount of generation
capacity and power procurement rights. Under the agreement,
E.ON receives 800 MW of power procurement rights from nuclear
assets in France and increases to 100 percent its stake in SNET,
a France-based power producer. In return, E.ON divests 800 MW
of nuclear power procurement in Germany, its 50.4-percent stake
in a coal-fired power station in Rostock, and power procurement
rights from Buschhaus, also a coal-fired power station.
October
E.ON signs an agreement to sell its 50-percent stake in Kraftwerk
Mehrum GmbH to Stadtwerke Hannover.
E.ON finalizes the acquisition of just under 25 percent of Yuzhno
Russkoye, a natural gas field in Siberia, from Gazprom. Yuzhno
Russkoye has more than 600 billion cubic meters of reserves,
making it one of the world's largest gas fields.
November
E.ON sells its ultrahigh-voltage transmission system in Germany
to TenneT, a state-owned transmission system operator in the
Netherlands. The purchase price as of December 31, 2009, for all of
the equity in E.ON subsidiary transpower is provisionally set at
1.1 billion. This amount also includes net cash held by the com-
pany. The transaction closed on February 25, 2010. The combina-
tion of the TenneT and transpower networks has the potential to
create Europe's first cross-border power transmission system.
December
E.ON sells most of Thüga to Integra/KOM9, a consortium of mu-
nicipal utilities, for approximately 2.9 billion. Thüga's stakes
in GASAG Berliner Gaswerke, HEAG Südhessische Energie, Stadt-
werke Duisburg, and Stadtwerke Karlsruhe are excluded from
the sale.This disposal also underscores E.ON's willingness to make
a major contribution to the continuing liberalization of structures
in Germany's energy market.
Following antitrust approval, E.ON largely completes the divest-
ment of generation capacity in Germany under its commitment
to the European Commission.
The Year in Review Our Company