With utilities across Europe reporting significant losses as renewables reduce demand for conventional power, E.ON’s move to cast off its 50.2GW fossil-fuel and nuclear generation into a separate, as yet unnamed company may be the first step in a global transformation of the energy sector.
Europe’s biggest utility says it will focus on three core businesses: renewables, networks and customer solutions; while its conventional assets — plus its energy trading, exploration and production businesses — will form a new entity that will be separately traded on the stock exchange from 2016.
“The
