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E.ON finished the 2017 financial year with very strong results. Adjusted EBIT of €3.1 billion was at the upper end of the forecast range of €2.8 to €3.1 billion. Adjusted net income of €1.4 billion surpassed the prior-year figure by 58 per cent and was likewise at the upper end of the forecast range of €1.2 to €1.45 billion.

Compared with the previous medium-term plan for the period 2018 to 2020, E.ON will increase its investments by about 20 per cent to a total of roughly €9.5 billion.

E.ON’s primary focus at Energy Networks in the years ahead will be on upgrades using digital technology that will make its grids smarter and better able to connect power producers and consumers in an increasingly distributed energy world. It also intends to expand its grids in order to better enable them to handle the growing output from renewable and distributed generation resources. This will expand the regulated asset base of the electricity grids by €2 to €3 billion to €21 to €22 billion by 2020.

E.ON wants to make Customer Solutions’ customer-service and –acquisition processes leaner and more digital and bring innovative products to market faster.

Between now and 2020, E.ON intends increase the generating capacity of its Renewables segment from 6 to 8GW, primarily by adding onshore wind farms in the USA and completing Rampion and Arkona offshore wind farms in Europe. E.ON will continue to systematically develop this segment and strengthen its earnings until the planned transfer to RWE. E.ON and RWE have just announced an agreement under which E.ON would acquire RWE’s 76.8-per cent stake in innogy as part of an extensive exchange of businesses.