Powergen was one of the first energy companies to enter the newly deregulated energy market in 1989. Once a household name, the Powergen brand has long since been replaced after it was purchased by another provider in 2002.
Who owns Powergen?
Powergen, once a member of the "Big Six" energy suppliers, was acquired by the German energy conglomerate E.ON almost two decades ago. It now trades on the Frankfurt Stock Exchange under the name E.ON SE. To learn more about Powergen and what followed its purchase in 2002, read on to the end.
Originally a government-owned company formed by the acquisition of regional electricity boards, Powergen was sold off to private investors in stages during the 1990s. In January 2002, Powergen was bought by E.ON in a £9.6bn deal which was hailed as a platform for future overseas growth.
The company continued to operate under the Powergen name until 2007 when the Powergen brand began to be phased out and it adopted the name E.ON UK, the name by which it’s known today. It continues to operate out of its old Coventry offices - it currently employs more than 9,000 people, serving around five million homes and businesses across the country.
EON Group is now the world’s largest investor-owned energy company and its venture into the UK market has proved an enormous success, having firmly placed itself among the country’s major energy providers.
My old Powergen UK tariff
In this section, we’ll take you through what you need to know about what happened with your old Powergen tariff.
Can I access information about my old Powergen tariff?
Unfortunately, as the takeover of Powergen by EON UK happened such a long time ago, this isn’t going to be possible.
Powergen customers that were on fixed and variable tariffs were switched over to the equivalent EON tariff after the takeover. If you’ve taken no action since this time and it was quite some time ago, you’re most likely now on the E.ON EnergyPlan - its standard variable tariff - and perhaps paying more than you should be for your energy.
You’ve likely either received paper or electronic bills each month, so you can either get details of your EON tariff by looking through your old bills or by logging into your online EON account.
Which new EON tariff am I on?
EON has two main types of tariff. Here they are:
- E.ON EnergyPlan, which is a variable tariff.
- E.ON Energy Fixed, which is a fixed tariff.
Every month, EON releases variations of these tariffs as deals on its website. For more information about EON tariffs, see our dedicated page, but the quickest way to find out what the best deal is for you is to give us a call.
In this section, we’ll address commonly asked questions about Powergen shares, starting with the most obvious.
What happened to my Powergen shares?
If you had shares in Powergen when it was taken over in 2002, one of two outcomes is possible - in either case, you didn’t lose your money. Here are the two possibilities that could have happened:
- Your share was cashed back to you on completion of the takeover based on the takeover price.
- Your shares were transferred to the EON name and scaled down to the value of your Powergen shares.
For more information on your situation and what happened to your shares specifically, visit the Investor Relations section of EON’s corporate site.
Powergen contact information
You can no longer get in touch with Powergen, but as former Powergen customers were switched to EON, this is the company you’ll need to contact if you have any queries about your current tariff. For details about how to contact EON, check out our EON contact guide.