E.ON Sverige
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E.ON Sverige AB, formerly known as Sydkraft, is Sweden's second largest utility with an annual turnover of 30 billion Swedish Krona (approximately 3.3 billion euro, 4.1 billion USD). The net profit for the 2005 fiscal year amounted to SEK 5,2 billion (approximately 712 million USD, 560 million euro). The company is a complete energy group providing products and services in energy, the environment, recycling, waste, and communications. The majority shareholding in Sydkraft AB was acquired in 2001 by E.ON AG in a deal estimated at USD 6.5 bln, and in end of 2007 the remaining 44.6% interest held by Statkraft was purchased for an additional USD 6.92 bln (EUR 4.4 bln).
An international power group with over 6000 employees, E.ON Sverige has been majority owned by Germany's E.ON since 2002. E.ON Sverige has 60 operating subsidiaries. The group's primary activities include electricity sales, distribution, and production, natural gas, LPG, heat, cooling, energy trading and communications solutions. Non-core activities include computer, electricity installation, surveying, telecommunications and industry consulting services.
On October 30, 2003, the European Commission gave the go-ahead for Sydkraft to acquire Électricité de France's shareholding in Graninge AB, thereby clearing the way for a complete takeover.
Sydkraft becomes E.ON Sverige
On September 16, 2005, Sydkraft changed its corporate name to E.ON Sverige (Sweden).
E.ON Sverige is a fully owned subsidiary within the E.ON Group. German E.ON, which is active in some 20 countries, is one of the world’s leading private energy company.
E.ON Sverige’s business concept places the focus firmly on the customer. “My goal is for E.ON Sverige to be the best energy company in the country. By working closely with our customers and utilizing our resources wisely, we will ensure that our customers use their energy as efficiently as possible,” says E.ON Sverige’s President and CEO Lars Frithiof.
Key issues, such as reliable energy supply and the greenhouse effect will continue to be an important part of everyday life for all Swedish citizens. Energy prices and increasing social and environmental responsibility demands coupled with political decisions affect us all.
“Consequently, improved energy efficiency will be a central theme in E.ON Sverige’s operations,” concludes Lars Frithiof.
Sweden, one of the most active networked metering marketplaces today, is in the process of transitioning to fully automated metering in response to legislation designed to promote a more open and efficient energy market and requiring all electricity meters in Sweden to be read on a monthly basis by July 1, 2009.
The company is party to the Baltic Gas Interconnector.
