Essent

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Essent NV
legal form Corporation
founding 1999
Seat 's-Hertogenbosch , Netherlands
management Patrick Lammers, CEO and Martin Muhr, CFO
Number of employees 4,500
sales EUR 3.7 billion (2016)
Website www.essent.nl

Essent building in 's Hertogenbosch

In terms of the number of customers it serves, Essent NV is the leading Dutch energy supplier . The company is also active in Belgium . Essent is a wholly owned subsidiary of the German energy company innogy SE , which has been part of the German energy group E.ON since 2019 . The district heating business Essent Local Energy Solutions (ELES) was sold on December 24, 2013 to the Dutch cooperative pension fund PGGM and the energy service provider Dalkia .

history

Essent was formed in 1999 from a merger between the PNEM / Mega Group and the EDON Group, whose roots go back to the first two decades of the 20th century.

In addition to its own operational activities, Essent NV was involved as a holding company in the following subsidiaries:

  • (until July 1, 2009) Essent Netwerk BV (100%) - installation, maintenance and management of the transport and distribution networks for electricity and gas
  • (until October 2009) swb AG , Bremen (51%) - energy supplier in Bremen with sub-investments in other municipal utilities

Essent NV was fully publicly owned until October 1, 2009. Around 74% of the company's shares were held by six Dutch provinces ( Noord-Brabant 30%, Overijssel 18%, Limburg 16%, other 10%) and the remaining 26% by almost 140 Dutch municipalities in the north, east and south of the Netherlands .

On January 12, 2009, the German energy company RWE announced in a mandatory announcement to the stock exchange that it had reached an agreement with Essent "on the conditions for a binding cash offer from RWE to the shareholders of Essent to acquire all shares". RWE aimed to acquire at least 80% of Essent's share capital . On September 30, 2009, RWE announced that it had completed the transaction on that day:

The European Commission approved the acquisition on June 23, 2009 and issued a condition that affects the German market: Essent is not allowed to contribute its 51% stake in Stadtwerke Bremen (swb) to the transaction. This stake was sold to EWE AG in Oldenburg, which now holds 100 percent of the company. Taking into account the sale of the swb stake and the spin-off of the EPZ stake as well as further value adjustments, the transaction volume amounts to around 7.3 billion euros.

Essent has been part of innogy SE since October 29, 2016.

Products

Essent NV supplies around 2.3 million customers with electricity and / or gas in the Netherlands. Around 30% of Dutch households are Essent customers. In addition to electricity and gas, Essent supplies energy services and products such as solar systems, thermal insulation and heat pumps that increase energy efficiency and contribute to climate goals. Essent has set itself the goal of reducing its customers' CO 2 emissions by 20 percent by 2025 .

Web links

swell

  1. ↑ Leading energy suppliers in the Netherlands in 2018, by number of clients. In: statista.com. November 12, 2019, accessed November 18, 2019 .
  2. ↑ DGAP-News: E.ON SE: E.ON completes acquisition of innogy shares from RWE (German). Retrieved May 2, 2020 .
  3. ↑ RWE sells Dutch subsidiary Essent ( Memento from December 30, 2013 in the Internet Archive )
  4. ↑ Essent and RWE complete transaction
  5. ↑ EWE AG buys swb entirely. Retrieved August 4, 2011 .