Electrabel sells grid management company Eandis

Electricity producer Electrabel has sold its remaining 21% stake in Eandis, the grid management company also partly owned by the Flemish municipalities. 

The sale follows a decision by the Flemish government obliging Electrabel, which is owned by the French industrial group GDF Suez, to step out of its participation in Eandis by 2019. The deal brought a price of €911 million, according to a calculation by financial daily De Tijd. The sum includes the sale price as well as a dividend for 2014 to which Electrabel is entitled. 

Eandis is now wholly in the hands of the Flemish intercommunales – structures run by groups of municipalities, which together look after the running of the electricity grid in the region, under the scrutiny of the Flemish regulator, VREG, and its federal counterpart, CREG. Eandis’ main responsibilities are the strategic interests of the grid, the promotion of rational energy consumption and the social responsibilities laid down on Eandis as a public service by the Flemish government, in matters such as policy regarding cutting off service for non-payers.

Eandis is responsible for maintaining more than 82,000km of electrical connections, 40,000 social clients who receive a preferential tariff, 29,000 budget meters for those who have trouble with bills, 42,750 electricity cabins and 769,360 lamps in public places.

Photo: Ingimage