Britain's Energy Industry Will Be Shaken Up by German Mega-Deal
- Two of the Big Six suppliers combine in Innogy-EON deal
- Questions over the fate of Innogy’s plan to sell Npower to SSE
Photographer: Chris Ratcliffe/Bloomberg
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The 22 billion-euro ($27.1 billion) deal that’s shaking up the world of German utilities also has a very British dimension.
EON SE’s acquisition of Innogy SE will combine the two U.K. business they own, shrinking the country’s Big Six utilities to five at a time when both the government and main opposition party are pressing for lower bills. It also emphasizes Britain’s dependence on foreign companies for power and natural gas when it’s seeking to leave the European Union.