Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

E.ON SE

(EOAN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Exclusive: Uniper to shut down German hard-coal power plants by 2025

share with twitter share with LinkedIn share with facebook
share via e-mail
01/30/2020 | 06:58am EDT
FILE PHOTO: The coal power plant Scholven of German energy utility company Uniper is seen behind houses in Gelsenkirchen

FRANKFURT/DUESSELDORF, Germany (Reuters) - Uniper aims to close most of its German hard coal-fired power plants over the next five years, accounting for half its European coal capacity, the utility said on Thursday.

By Christoph Steitz, Tom Käckenhoff and Vera Eckert

The German cabinet on Wednesday backed plans to exit coal as an energy source by 2038 as part of efforts by Chancellor Angela Merkel's ruling coalition to protect the climate and restore its green credentials.

Uniper, formed in 2016 after being spun off from E.ON, has drawn up plans to shut down about 1.5 gigawatts of capacity involving three blocks at its Scholven plant plus the Wilhelmshaven power station by the end of 2022, it said.

It will then shut a further 1.4 GW at its Staudinger and Heyden sites by end-2025, the group added, confirming an earlier Reuters story.

Uniper shares were up 1% at 1120 GMT, giving it a market value of 11.1 billion euros ($12.3 billion).

"We're setting Uniper on a decisive course for the future: our actions will provide planning security to our employees at the facilities affected and give our company the financial and structural flexibility to focus on important, sustainable projects," CEO Andreas Schierenbeck said.

The planned closures represent about half of Uniper's total hard coal-fired capacity in Europe and come as investors and governments demand sustainable business models that do not rely on fossil fuels.

COMPENSATION

The planned closures would cut Uniper's carbon emissions by about 18 million metric tonnes per year, it said.

Schierenbeck told Reuters last week that the group planned to significantly slash its CO2 emissions, which stood at 59.5 million metric tonnes in 2018, half that of larger peer RWE, Europe's biggest polluter.

In return for the closures Uniper will likely qualify for government compensation payments.

Based on compensation terms announced by the government this week, Uniper could receive 365 million euros if it succeeds in planned auctions that will allocate closure permits to the least expensive bidders.

Uniper has said it plans to develop former plant sites to help preserve jobs. The government wants former coal sites to be used for facilities such as gas-fired combined heat and power plants.

The plans do note affect Datteln 4, Uniper's new 1.5 billion euro state-of-the-art coal-fired power plant which is scheduled to go on-line in mid-2020.

Uniper's largest shareholder is Finland's Fortum, which holds a 49.99% stake. That holding could top 70% if a deal with activist funds Elliott [ECAL.UL] and Knight Vinke goes through.

(Editing by Riham Alkousaa and Jason Neely)

By Christoph Steitz, Tom Käckenhoff and Vera Eckert

Stocks mentioned in the article
ChangeLast1st jan.
E.ON SE -0.94% 9.166 Delayed Quote.-3.76%
FORTUM OYJ -5.92% 13.1 Delayed Quote.-36.70%
RWE AG -3.51% 23.12 Delayed Quote.-15.47%
UNIPER SE -4.64% 23.43 Delayed Quote.-20.60%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on E.ON SE
03/26E ON : pledges social responsibility in corona crises
AQ
03/26Grid operators turn control centres into campsites to keep coronavirus at bay
RE
03/25E.ON to Design Energy Solution for Tesla's Gigafactory in Germany
DJ
03/25E ON : banks on networks to weather coronavirus crisis
RE
03/25E.ON SE : E.ON pledges social responsibility in corona crises
EQ
03/24E.ON SE : E.ON adopts a dividend policy with an annual increase in the dividend ..
EQ
03/24Coronavirus crisis shakes Europe's power, gas prices
RE
03/23E ON : postpones Annual Shareholders Meeting until mid-June 2020
AQ
03/23E.ON allies with Octopus Energy to revamp UK retail business
RE
03/23E ON : to revamp UK retail unit in deal with Octopus Energy
RE
More news
Financials (EUR)
Sales 2020 64 583 M
EBIT 2020 3 934 M
Net income 2020 1 051 M
Debt 2020 24 337 M
Yield 2020 5,18%
P/E ratio 2020 23,4x
P/E ratio 2021 16,1x
EV / Sales2020 0,75x
EV / Sales2021 0,74x
Capitalization 23 899 M
Chart E.ON SE
Duration : Period :
E.ON SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends E.ON SE
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 10,61  €
Last Close Price 9,17  €
Spread / Highest target 54,9%
Spread / Average Target 15,8%
Spread / Lowest Target -12,7%
EPS Revisions
Managers
NameTitle
Johannes Teyssen Chairman-Management Board
Karl-Ludwig Kley Chairman-Supervisory Board
Karsten Wildberger Chief Operating Officer-Commercial
Marc Spieker Chief Financial Officer
Karen Maria Alida de Segundo Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
E.ON SE-3.76%26 499
ORSTED A/S-0.52%41 114
NATIONAL GRID PLC-0.77%40 803
SEMPRA ENERGY-20.04%35 418
ENGIE-31.61%26 349
ELECTRICITÉ DE FRANCE-27.58%24 703