ESSEN (dpa-AFX) - Energy supplier Eon should benefit from the energy turnaround in view of the necessary investments, according to the assessment of its CFO Marc Spieker. "We are looking at at least a decade of growth," the manager told financial news agency dpa-AFX and Deutsche Presse-Agentur in Essen. During this period, he said, the expansion of energy infrastructure will have to be massively accelerated. In the interview, Spieker reported encouraging signals from international investors, but sees the regulators as having a duty to ensure attractive interest rates.

According to Eon, it operates more than 800,000 kilometers of electricity and gas networks in Germany, and thus a large part of the country's distribution networks. These need to be modernized so that, for example, electric car owners can charge their vehicles at home. In addition, solar and wind power generation in particular requires the energy system to be digitally networked.

In March, Eon had announced its intention to invest around 33 billion euros by 2027. "We stand by this unwaveringly," Spieker said. According to the manager, the majority of the investments - 70 to 80 percent - will go toward network expansion. Among other things, the Essen-based Dax group is recruiting new people: "In the first half of the year, we managed to recruit 2,000 additional employees. Of these, 1,000 were in the German network business alone," said Spieker. By the end of 2022, the group employed nearly 72,000 people, including almost 37,000 in Germany.

He left open whether Eon would still increase its total investments. Despite the "very positive" reactions from investors, the conditions for new investments were also crucial, Spieker said. He cited the need for expedited permitting processes, as well as economic incentives. The rate hikes in recent months have made the return to be captured more critical, he said./lew/tob/tav/he