Germany’s biggest utility E.ON — long a pillar of the country’s fossil fuel and nuclear industry — dropped a bombshell on Europe’s business world with the announcement that the multinational was exiting the conventional energy market in favor of a new business model based on renewables, intelligent grid systems, energy management and other services. Indeed, the company seems finally to have drawn the logical consequences from the Energiewende, Germany’s renewable energy transition, after years of resisting the ambitious transformation of the nation’s energy supply.
