E.ON confirms it is “undergoing a strategic review” of its retail business in Romania after Hotnews.ro announced that the country's Romgaz may acquire the German group's local energy supply division. Ta.
E.ON emphasized in a press release that “no decision has been made yet.”
The company also said, “In line with our strategy, E.ON is continually reviewing our portfolio to drive our strategic agenda of sustainability, digitalization and growth.”
With a portfolio of 3.4 million customers, E.ON is the only supplier with an integrated electricity and natural gas offer.
Notably, the German group only spoke of its retail business in its press release, meaning it may still hold a large industrial consumer portfolio. Among the companies interested in bidding for the E.ON division are reportedly Hidroelectrica and Engie.
Local Ziarul Financiar talks about a consortium set up by two Romanian state-owned companies (Romgaz and Hidroelectrica) that will bid for E.ON's supply arm.
Weak financial profitability appears to be the main reason why E.ON is selling its Romanian supply division. In 2022, E.ON Energie Romania reported revenues of ROMANIA 13.7 billion (EUR 2.75 billion) and losses of ROMANIA 356 million.
“In 2023 there will be a recovery in performance and they will probably want to take advantage of it,” said an expert quoted by Giarul Financial.
iulian@romania-insider.com
(Photo source: Facebook/E.ON)
