E.ON Energy Trading is a European company
E.ON Energy Trading has announced that it is legally a European company after completing the conversion from Aktiengesellschaft (AG) to Societas Europaea (SE). The company's new name – E.ON Energy Trading SE - was entered in the commercial register of the Düsseldorf District Court last Friday.
Tony Cocker, CEO of E.ON Energy Trading, says: “This is another important step for E.ON Energy Trading and its employees and we’re absolutely delighted to now have legal recognition of our European status. We made the decision to convert to SE very early on, because it underlines the fact that we’re a truly European business. We’ve designed the company specifically to have a single, integrated view of Europe’s increasingly interconnected energy landscape.”
Over the last few years Europe’s energy markets have become more dynamic and more integrated, supported by the European Union’s drive for a more liberalized internal energy market. E.ON, which has one of the largest and most diverse energy portfolios in Europe, united its trading activities under one roof in 2008. Based in Düsseldorf, E.ON Energy Trading has over 800 employees from more than 45 countries.
“We’ve successfully created an international business, bringing together a talented team of people from our former trading units across Europe,” says Tony.
“They now work side-by-side, sharing their knowledge and experience of Europe’s wholesale energy markets. Together, they play a vital role in helping to add value for E.ON and ensure secure supplies and fair prices for millions of E.ON customers.” With immediate effect, E.ON Energy Trading SE has established a new SE Works Council consisting of 13 members from the company's subsidiaries in six European countries - Germany, UK, Netherlands, Sweden, Bulgaria, and Poland. The new SE Works Council, which will work side-by-side with the other employee representatives within E.ON Energy Trading, will focus on transnational matters that have a considerable and direct impact on employees in at least two countries. It may also take up initiatives in conjunction with the E.ON Energy Trading Board of Management on topics such as equal opportunity employment, antidiscrimination measures, health and safety, and training and development policies.
The conversion to SE does not have a significant impact on any legal framework or regulation applying to E.ON Energy Trading. As a result, all pre-existing obligations and rights regarding trading counterparties and other external stakeholders remain unchanged and in place.
Notes to editors:
Tony Cocker, CEO of E.ON Energy Trading, says: “This is another important step for E.ON Energy Trading and its employees and we’re absolutely delighted to now have legal recognition of our European status. We made the decision to convert to SE very early on, because it underlines the fact that we’re a truly European business. We’ve designed the company specifically to have a single, integrated view of Europe’s increasingly interconnected energy landscape.”
Over the last few years Europe’s energy markets have become more dynamic and more integrated, supported by the European Union’s drive for a more liberalized internal energy market. E.ON, which has one of the largest and most diverse energy portfolios in Europe, united its trading activities under one roof in 2008. Based in Düsseldorf, E.ON Energy Trading has over 800 employees from more than 45 countries.
“We’ve successfully created an international business, bringing together a talented team of people from our former trading units across Europe,” says Tony.
“They now work side-by-side, sharing their knowledge and experience of Europe’s wholesale energy markets. Together, they play a vital role in helping to add value for E.ON and ensure secure supplies and fair prices for millions of E.ON customers.” With immediate effect, E.ON Energy Trading SE has established a new SE Works Council consisting of 13 members from the company's subsidiaries in six European countries - Germany, UK, Netherlands, Sweden, Bulgaria, and Poland. The new SE Works Council, which will work side-by-side with the other employee representatives within E.ON Energy Trading, will focus on transnational matters that have a considerable and direct impact on employees in at least two countries. It may also take up initiatives in conjunction with the E.ON Energy Trading Board of Management on topics such as equal opportunity employment, antidiscrimination measures, health and safety, and training and development policies.
The conversion to SE does not have a significant impact on any legal framework or regulation applying to E.ON Energy Trading. As a result, all pre-existing obligations and rights regarding trading counterparties and other external stakeholders remain unchanged and in place.
Notes to editors:
- E.ON Energy Trading is the energy trading business of E.ON, one of the world's
largest investor-owned power and gas companies. As a single, strategically
focused business, we draw on our international strength and industry expertise
to play a leading role in Europe’s energy markets. We work across national
borders in all key energy markets including power, gas, coal, oil and
CO2; - Through our trading activities, we enhance the value of E.ON’s asset base,
minimize the commodity risk of E.ON’s power generation activities, and use
our expertise and knowledge of Europe’s converging markets to add value for
E.ON and its consumers.
For more information contact:
Georg Oppermann on +49 (0) 211 73275 2306
Jamee Majid on +49 (0) 211 73275 2307