N.V. Nuon Energy

History

Beginning with its formation from 1995-1999, Nuon was formed with the merger of several smaller regional companies operating in the Netherlands. The yellow and purple logo and car design was also introduced during this time. The period between 2000 and 2003 brought a more complete integration between the companies, expansion into other countries, including Germany, an agreement between Nuon and Natuurmonumenten to encourage sustainable energy throughout the Netherlands, and participation in the 2001 World Solar Challenge. In 2004, the company also entered the Belgian market, acquired and integrated Reliant Energy Netherlands, ceased investing in activities which were not directly related to energy, and put an emphasis on streamlining operation processes. In 2000, it incorporated Nuon Renewables (now Vattenfall United Kingdom) in the United Kingdom.

In 2009, Vattenfall acquired 49% stake in Nuon and will increase its stake up to 100% by 2014 at a total cost of 89 billion Swedish kronor. Vattenfall later devaluated it by 50 billion kronor. Its subsidiary Nuon Renewables was separated and became an independent company in the Vattefall Group. Its German subsidiary Nuon Deutschland GmbH was sold to ENERVIE AG in 2010 and its Belgian subsidiaries Nuon Belgium and Nuon Power Generation Walloon were sold to Eni for €157 million in 2012.

Operations

Nuon produces, sells and delivers electricity, gas, heat and additional services. The company is active in the Netherlands, Belgium and Germany and has more than 2.7 million customers. With over 10,000 employees in 2005 it achieved a net turnover of €5 billion.

Ownership

64% of Nuon's shares belongs to Vattenfall. Other major shareholders are the provinces of Gelderland and Noord-Holland, Amsterdam and B.V. Houdstermaatschappij Falcon of Friesland. The other shareholders are around 65 smaller towns and the province of Flevoland.