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German Giants, one for the people, one for renewables

There are at least two ways of viewing this week’s swap of assets (no it’s not a merger) between RWE and E.ON, possibly three. If you are German you may be wondering if the merged customer entities of E.ON and innogy makes the company too dominant in Germany, but this week the European Commission said that the German energy market is too diverse and in the hands of too many suppliers for this to skew the market. It would not be the first time this particular set of Commissioners got that type of decision totally wrong, since they seem idealistically tuned to large corporates. But the key way of thinking about this deal is that one company has opted to…

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