E.ON extends innovation cooperation with Microsoft

Following joint digitalization projects in areas such as Future Energy Home, cloud and security solutions, the extended collaboration is now being extended to include the innovation area. Microsoft and E.ON will now jointly identify new projects and develop solutions using technologies such as artificial intelligence and data analytics, among others. The innovation collaboration will provide both partners with a faster learning curve in terms of developing more products and services for their customers, as well as more effective processes in their organizations.

Sebastian Weber, Chief Technology Officer at E.ON, says: “The digitalization of the energy industry is an important prerequisite for decarbonizing the European energy landscape. The expansion of the cooperation between Microsoft and E.ON in the area of innovation is another step on the way to the energy transition. Together we will develop innovative solutions to further optimize critical processes and thus deliver added value to our customers”.

Maria Gomez, Director of Retail, Travel, Energy at Microsoft, says: “We share the same understanding with E. ON regarding value and sustainability strategies. In our future labs, we are working on applications for artificial intelligence, data analytics and cloud computing, with which we are driving the digitalization of the energy industry and from which many customers can benefit in the future”.

A first project of the innovation collaboration deals with so-called process of ‘algorithmic hedging’. The gained insights will support E.ON in making improved buying and selling decisions for electricity and gas even against volatile market developments. Together, the two companies are working on the development of algorithms that analyze the current market situation on the basis of machine learning and implement hedging decisions automatically.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group management and other currently available information. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any obligation, to update these forward-looking statements or to conform them to future events or developments.