Powergen
 |
|
| Public limited company | |
| Industry | Energy |
| Founded | 1989 (as Powergen) |
| Headquarters |
Coventry, England United Kingdom |
|
Key people
|
Tony Cocker, CEO |
| Products | Power and gas |
| Revenue | £9.22bn (2011) |
| £-162m (2011) | |
| £406m (2011) | |
| Total assets | £10.83bn (2011) |
| Total equity | £5.26bn (2011) |
|
Number of employees
|
15,000 (2011) |
| Parent | E.ON |
| Website | www |
E.ON UK (formerly Powergen) is an energy company in the United Kingdom and a subsidiary of E.ON, the world's largest investor-owned power and gas company. As Powergen, it was listed on the and was once a constituent of the FTSE 100 Index but since 1 July 2002 has been owned by E.ON SE of Germany.
It was formerly a vertically integrated utility company with interests in electrical generation, electricity distribution in the Midlands region, and in the electricity and gas supply markets. However, since restructuring and sales, E.ON UK is now a retail business with support functions.
Powergen was formed in 1989 as a Public Limited Company which was wholly owned by the UK government and acquired about 50% of the Central Electricity Generating Board generating capacity.Sir Robert Malpas was Chairman of the Group from 1989 to 1991. Sixty per cent of Powergen was sold to private investors in 1991, followed by the remaining 40% in March 1995. It expanded considerably by acquiring the regional electricity company East Midlands Electricity in 1998 and the supply business of TXU Energi in 2002. Powergen was eventually taken over itself by E.ON, an acquisition which was completed in January 2002.
It then bought the distribution network operator Midlands Electricity in 2004. This was merged with the distribution business of East Midlands Electricity and rebranded as Central Networks. The Industrial & Commercial Retail business was rebranded as E.ON UK on 5 July 2004. The creation of the Central Networks business in April 2004 included "a company of E.ON" as part of its logotype. In October 2005 it was also added to the Powergen logotype.
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Wikipedia