In July 2009, the European Commission fined GDF Suez and E.ON €553 million each over arrangements on the MEGAL pipeline. E.ON acquired about €10 billion of assets that the enlarged Enel was required to divest under EU competition rulings. Į.ON attempted to acquire Endesa in 2006, however this acquisition was overtaken by a joint bid from Italian utility Enel in conjunction with Spanish company Acciona. The sale was closed on 1 November 2010, with E-ON US becoming LG&E and KU Energy. In the United States, E.ON inherited Louisville, Kentucky-based Louisville Gas & Electric Energy, via the acquisition of Powergen, and operated it as E.ON US, until 2010, when E.ON US was sold to Pennsylvania-based PPL for $7.625 billion. Sydkraft, Powergen, and OGK-4 were rebranded to E.ON Sverige, E.ON UK, and E.ON Russia respectively. E.ON Ruhrgas was represented in more than 20 countries in Europe.Į.ON also acquired Sydkraft in Sweden and OGK-4 (now: Unipro) in Russia. In 2003 E.ON entered the gas market through the €10.3 billion acquisition of Ruhrgas (later: E.ON Ruhrgas). In the United Kingdom, Powergen was acquired by E.ON in January 2002. History Į.ON came into existence in 2000 through the merger of energy companies VEBA and VIAG ( Vereinigte Industrieunternehmungen AG, "United Industrial Enterprises Corporation"). E.ON Next also has two million migrated customers from commercial energy firm npower Business Solutions and Powershop after acquiring both companies. In 2020, E.ON UK announced that it would be migrating customers over to a new subsidiary brand called E.ON Next. However the company still owns coal power in Turkey. In 2019, E.ON became the first of the " Big Six" UK power companies to switch all of its British electricity customers entirely to renewable electricity. The deal was approved by the EU antitrust authorities in September 2019, with final execution taking place in July 2020. In March 2018, it was announced that E.ON would acquire the utility portion of renewable energy utility Innogy through a complex €43 billion asset swap deal between E.ON, Innogy and RWE. E.ON sold its stake in Uniper through a stock market listing and sold the remaining stock to the Finnish utility Fortum. In 2016, it separated its conventional power generation and energy trading operations into a new company, Uniper, while retaining retail, distribution and nuclear operations. Į.ON was created in 2000 through the merger of VEBA and VIAG. Its chief executive officer is Leonhard Birnbaum. It operates in over 30 countries and has over 33 million customers. The company is a component of the Euro Stoxx 50 stock market index, DAX stock index and a member of the Dow Jones Global Titans 50 index. The name comes from the Latin word aeon, from the Greek aion which means age. It runs one of the world's largest investor-owned electric utility service providers. E.ON SE is a European multinational electric utility company based in Essen, Germany.
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