E.ON to quit gas and coal and focus on renewable energy

#Energy Germany utility firm to sell off most power generating units amid ‘dramatically altered global energy markets’

Germany’s biggest utility firm, E.ON, has announced plans to split in two and spin off most of its power generation, energy trading and upstream businesses, responding to a crisis that has crippled the European energy sector.

E.ON said it wanted to focus on its renewable activities, regulated distribution networks and tailor-made energy efficiency services, citing “dramatically altered global energy markets, technical innovation, and more diverse customer expectations”.

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