EU Agrees E.ON Sale of Europe Power Grid to TenneT

4 February 2010 (Last Updated February 4th, 2010 18:30)

Dutch network operator TenneT has secured European Union regulatory approval to buy a power grid from Germany's E.ON. E.ON is selling roughly 11,000km of high-voltage power lines as part of commitments to end an EU antitrust investigation and avoid a possible fine, reports Reuters.

Dutch network operator TenneT has secured European Union regulatory approval to buy a power grid from Germany's E.ON.

E.ON is selling roughly 11,000km of high-voltage power lines as part of commitments to end an EU antitrust investigation and avoid a possible fine, reports Reuters.

The proposed sale "would not affect the competitive conditions in the relevant markets," the executive European Commission said in a statement.

European regulators have sought for years to open the energy market and increase regulatory power over giant utilities.