E.ON CEO Teyssen says German utilities have fallen far behind their international competitors
German utilities 鈥渉ave fallen far behind their competitors in Europe and the US,鈥� according to Johannes Teyssen, CEO of German utility E.ON. The companies鈥� meagre performance over the last decade has meant investments in research and development are lower than they should be, and German companies have 鈥済enerally failed to become innovation engines鈥� in the energy sector, Teyssen told Dow Jones Newswires. He argued that the carve-up of innogy, a spin-off of utility RWE, is an appropriate reaction to the current state of the German energy industry, and would enable E.ON and RWE to catch up with their international competitors.
For background, read the 威力彩玩法 article RWE and E.ON overhaul power sector - German reactions to innogy deal and the dossier Utilities and the energy transition.