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MarketScreener Homepage  >  Equities  >  Xetra  >  E.ON SE    EOAN   DE000ENAG999

E.ON SE

(EOAN)
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E ON : provides 100% renewable electricity for all 3.3 million customer homes at no extra cost

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07/10/2019 | 10:10am EDT

E.ON today announced it is now providing all of its residential customers across Britain with a 100% renewable electricity supply on all tariffs as standard, and at no extra cost.

The change means more than 3.3 million homes now have an electricity supply matched by renewable sources including wind, biomass and solar. E.ON's announcement is the largest of its type to date in the UK, significantly increasing the number of households in the country backed by 100% renewable electricity.

This comes as a survey of electricity customers shows more than three in five Britons (61%) not already on a renewable tariff, would be likely to change to a renewable electricity supplier if at a reasonable price.1

And with more than three quarters of people in Britain concerned about climate change (77%), and a similar number saying they could do more to be more sustainable (79%), the move demonstrates the need for companies to support consumers in taking steps to reduce their environmental impact.2

'Climate change is the defining issue of our era, and one that energy customers are increasingly concerned about,' said E.ON UK Chief Executive Michael Lewis. 'We believe large-scale action can make significant change possible and we're committed to playing a leading role and setting an example for others to follow, that's why we're providing all of our residential customers with 100% renewable electricity as standard - a change at a scale never seen before in Britain.

'Our announcement is an important first step in a journey towards a more sustainable and personalised energy system, but the future of energy doesn't stop here. The opportunities include helping all of our customers to better manage their energy through smart, personalised and sustainable technologies.'

E.ON is directly supplying a large proportion of this renewable electricity through its own renewable generation fleet, as well as agreements with independent wind generators around the country to directly purchase the electricity produced. The remaining electricity used by customers is matched with 100% renewable electricity sourced externally through such things as renewable electricity guarantee certificates from the likes of wind, biomass and solar sources. These certificates guarantee that an equivalent amount of renewable electricity was generated to the amount supplied.

E.ON built its first wind farm on Anglesey in 1992 and was a partner in the UK's first offshore wind farm - Blyth in Northumberland - in 2000.

Today the company owns more than 20 onshore and offshore wind farms in the UK, as well as biomass plants in Scotland and South Yorkshire.

E.ON is also the energy partner for the net zero carbon Elephant Parkredevelopment in central London using naturally sourced biomethane in a high efficiency district heating scheme and has supply agreements with a number of independent renewable generators across the UK.

Contact:

Victoria Blake

Tel: 07738 143903

Email: victoria.blake@eonenergy.com

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (EUR)
Sales 2019 30 915 M
EBIT 2019 2 988 M
Net income 2019 1 443 M
Debt 2019 4 896 M
Yield 2019 5,05%
P/E ratio 2019 14,1x
P/E ratio 2020 14,3x
EV / Sales2019 0,82x
EV / Sales2020 0,46x
Capitalization 20 488 M
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Average target price 9,98  €
Last Close Price 9,44  €
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Johannes Teyssen Chairman-Management Board & CEO
Karl-Ludwig Kley Chairman-Supervisory Board
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Marc Spieker Chief Financial Officer
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