Germany’s two largest utilities have announced a major asset swap, with E.ON and RWE looking to lessen direct competition between each other and focus on distinct offerings. RWE-spinout Innogy is key to the deal, and its shareholders are likely the biggest hurdle moving forward – as the 15.6% premium being paid is rather low. The deal is a marked end to convention. The Washington Post goes as far as calling it the ‘death of the utility as we know it.’ Essentially, E.ON is moving away from the traditional utility model, of producing electricity, distributing it over a network, and then selling it to an end-customer – choosing now to focus on the last two elements, and forgo power generation. Through…