Utility E.ON AG (EOAN.XE) said Wednesday it has reorganized its electricity grid operations, spinning-off its ultra-high voltage power transmission grid into an independent unit ready for sale.
E.ON's 10,700 kilometer transmission power grid will in future be run by a new unit called transpower stromuebertragungs GmbH, the company said in a written statement.
Last year E.ON committed itself to sell its German transmission power grid to an independent operator as part of a deal with the European Commission, which in return dropped two antitrust investigations against the company.
E.ON has until Dec. 1, 2010 to sell the transmission power grid.
The ultra-high voltage power grid has so far been run by E.ON's electricity network operating unit E.ON Netz.
E.ON Netz will continue to operate the company's high-voltage 110 kilovolt power grids, which stretch around 22,000 kilometers across Germany.