LONDON, March 3 (UPI) -- Germany's E.ON became the first firm in the European Union to propose a breakup of major parts of its network.
The move helps the European Commission in its efforts to break up power, held largely by only a few giant companies, the Independent reported.
The British energy regulator, Ofgem, called E.ON's proposal to sell its electricity transmission network and some of its power plants a "breakthrough" for U.K. consumers, who have seen their bills climb, partly because of the anti-competitive European market.
"This is great news for British consumers and represents a big breakthrough in the European Commission's fight to bring about a competitive energy market in continental Europe," an Ofgem spokesman said.
Unlike U.S. utilities, Europe's big players own the transmission networks needed to pipe power and gas to its customers, in addition to the power plants that generate it.
E.ON's proposal must be approved by the European Commission. If it is given the go-ahead, it would be a boost for the commission's anti-trust chief, Neelie Kroes, who has been working to force Europe's energy players to unbundle generation from distribution.
Electricite de France and Germany's RWE have opposed the plan.
