E.ON SE is an investor-owned electric utility service provider with its headquarters in Essen, Germany. E.ON was established in 2000 after the merger of United Electricity Mining Corporation (VEBA) and United Industrial Enterprises Corporation (VIAG). Since its beginnings, E.ON has gone onto acquire several companies including Powergen, Sydcraft, LG&E Energy, and Innogy. Currently, E.ON is one of the largest electric utilities in the world.
E.ON provides services to multiple European countries and serves approximately 50 million customers. The company is organized into three major segments, including customer solutions, energy networks, and renewables. In 2019 it also acquired Innogy SE – the renewable energy subsidiary previously owned by RWE. That year, E.ON’s power sales came to roughly 128.6 terawatt hours, an increase from the previous year, but notably lower than power sales prior to 2016. On January 1, 2016, E.ON separated its businesses into two main parts. Accordingly, a new company, Uniper, was formed to maintain the company’s conventional power generation and energy trading operations. E.ON has retained its own retail and distribution services. In 2019, Uniper was Europe’s largest electric utility by power sales, with Innogy ranking third and E.ON ranking seventh.
E.ON’s revenues climbed to some 41.5 billion euros in 2019, more than triple the amount generated by its competitor RWE. Meanwhile, E.ON's net income fell for the second consecutive year to 1.8 billion euros.
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