E.ON
The power grids carrying Germany’s energy transition.
52-week range
As of 5 Oct 2026, 17:35What does E.ON do?
Essen-based E.ON has two main businesses: it runs power and gas grids that carry energy into homes, and it sells electricity and gas to millions of customers in Europe. Most of the profit comes from the grids, where returns are set by regulators and fairly predictable. It also offers energy solutions such as heating and charging points for companies and cities.
Your electricity or gas bill may come from E.ON, and an E.ON company such as Westnetz or Bayernwerk often runs the grid outside your door.
How E.ON makes money
- Selling power & gas to customers67 %
- Power & gas grids30 %
- Energy solutions for companies & cities4 %
Strengths
- Grids are a natural monopoly with regulated, predictable returns.
- The energy transition, electric cars and heat pumps all need much more grid.
- Adjusted earnings (EBITDA) rose to about 9.8 billion euros in 2025.
Risks
- Regulators such as Germany’s Federal Network Agency decide how much E.ON may earn from its networks.
- Expanding the grid costs billions and is partly paid for with debt.
- Selling electricity is highly competitive, with thin margins.
- Founded
- 2000
- Headquarters
- Essen, Germany
- Employees
- about 78,000
What if you had invested in E.ON earlier?
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This page explains the company and is not a recommendation to buy or sell.