“E.ON cashes in with dinosaurs”

The fact that E.ON sticks to the majority Uniper sale in September despite the fossil spin-off’s lousy results is a bet on the future of the Energiewende, writes Daniel Wetzel in Die Welt. Renewable power’s share will remain stuck in low single digits and fossil plants should remain essential on many dark days without wind, according to Wetzel. “If Uniper has the necessary stamina, it could appear a knight in shining armour with its dinosaur plants in a few years’ time and cash-in accordingly.” Uniper CEO Klaus Schäfer believes Germany will have to follow the example of other European countries and introduce a capacity mechanism, involving payments to fossil plant operators to secure supply security, according to Wetzel.

Read the article in German here.

For background on E.ON’s spin-off plans and the misery of Germany’s large utilities, read the CLEW factsheet E.ON shareholders ratify energy giant's split.