German utility company E.ON is the world's largest investor-owned energy provider. Based in Dusseldorf , it was formed in 2000 when German companies VEBA and VIAG merged. It originally participated in the chemistry and telecommunications industries in addition to energy, but now deals only with gas, electricity and heat production and supply.
With revenues of €56.4 billion in 2005, E.ON is a multinational corporation with five geographic divisions. E.ON Energie operates in Central Europe; E.ON Nordic in Northern Europe; E. ON UK in the United Kingdom, E.ON US in America; and E.ON Ruhrgas, which provides gas across Europe. It also owns stakes in the Russian natural gas company Gazprom.
Its 2005 annual report says E.ON Energie (the Central European division) particularly grew in Eastern Europe that year, acquiring its first majority ownership interests in Bulgaria and Romania, and expanding operations in Hungary.
E.ON is a majority owner of the electricity supply and distribution companies in Varna and Gorna Oriahovitza in Bulgaria.
