Dutch national grid buys Eon network

Tuesday 10 November 2009

The Dutch national grid company Tennet is spending €885m on German power firm Eon's high voltage electricity supply network, the NRC reports on Tuesday.

The deal means Tennet, which is state-owned, has become the first cross-border grid operator in Europe, the paper says.

Tennet director Mel Kroon told the NRC the deal will eventually lead to lower electricity prices, because it will be cheaper to import low-cost energy from Germany's coal-fired power stations.

Earlier this year there was considerable criticism of Dutch power firms Essent and Nuon for selling themselves to foreign companies.

Dutch state-owned gas firm Gasunie already owns a large gas supply network in northern Germany, the NRC said.

For the Financial Times report on this, click here

© DutchNews.nl

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