E.ON, GDF SUEZ Finalise Production Capacity Exchange Deal

Published: 06-Nov-2009

GDF SUEZ and E.ON have finalised the production capacity exchange deal agreed in July 2009, after receiving necessary authorisations.

GDF SUEZ acquires conventional power stations from E.ON with a total capacity of 860MW, as well as approximately 132MW of hydroelectric capacity. Electrabel, a subsidiary of GDF SUEZ, also acquires around 700MW of offtake rights from nuclear power stations in Germany.

In return, E.ON acquires from GDF SUEZ, the coal- and biomass-fired power station at Langerlo (556MW) and the Vilvoorde gas-fired power station (385MW), as well as the right to offtake approximately 770MW from nuclear power stations, with supply points in Belgium and the Netherlands.

By this transaction, Electrabel reduced its generation shares in Belgium from 83% to 65% in about one year.

For E.ON, the swap with GDF SUEZ forms part of the measures pledged by E.ON to the EU-Commission in 2008 to promote competition on the German energy market. E.ON made a commitment to sell about 5,000MW of generation capacity and its ultrahigh-voltage transmission network in Germany.

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