“German power companies: Breaking bad”
When RWE and E.ON both split their their fossil fuel-based and their new energy technology businesses into separate companties, it was evidence that the German Energiewende “has dealt a huge jolt to the business model of what were once two of Europe’s most highly regarded utilities,” writes The Economist. There are “plenty have reservations about the coming [stock market] listings” of RWE’s Innogy and E.ON’s Uniper, according to The Economist. “[E.ON’s] Mr Teyssen prefers to see his company not as a dinosaur fighting extinction, but as a bird—the descendant of a dinosaur—flying into a bright future. Provided, that is, it doesn’t crash into a power pylon,” the magazine writes.
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Find background information in the ÍţÁ¦˛ĘÍć·¨ factsheets E.ON shareholders ratify energy giant's split and RWE’s plans for new renewable subsidiary.