In a particularly delicate moment for the energy sector, the Italian user landscape is changing again. Plenitude has completed the acquisition of 100% of Acea Energia and 50% of Umbria Energy, with a maxi operation worth approximately 500 million euros. The immediate result is that approximately 1.2 million customers come under the control of the subsidiary Eni, significantly strengthening its presence in the gas and electricity retail market. Vulnerable electricity customers are excluded from the transfer and will continue to be managed by Acea.
How much is the acquisition of Acea worth?
Behind the overall figure there are various financial components. THE’enterprise value of the operation was set at 448 million euros, a figure updated based on the actual perimeter of the transaction.
Added to this value are:
- adjustments related to net cash as of December 31, 2024;
- the ticking fee and leakage mechanisms;
- a dividend of approximately 82 million distributed to Acea.
A variable component of up to 100 million euros is also envisaged, which will be recognized based on operational performance by June 2027.
What changes for customers who join Plenitude
From a practical point of view, for the customers involved there are no immediate effects on supplies: the contracts remain active and valid even if the person managing them changes. There will obviously be the possibility of adhering to the offers of the new supplier.
With this acquisition, Plenitude exceeds 11 million customers in Europe and consolidates its role in an increasingly competitive market, especially after the end of the enhanced protection service and the transition to the free market.
Plenitude’s strategy between growth and renewables
The acquisition of Acea Energia and half of Umbria Energy is part of a broader strategy. Plenitude is building an integrated model that combines energy production from renewable sources and infrastructure for electric mobility as well as obviously the retail sale of electricity and gas.
Today the company can count on:
- 5.8 GW of installed renewable capacity;
- over 23,000 charging points for electric vehicles;
- presence in more than 15 countries.
The objectives for 2030 are ambitious: 15 GW of renewable capacity, 15 million customers and 30,000 public charging points.
Acea’s strategy after the sale
For Acea the sale represents an equally important strategic step. In fact, the group aims to strengthen its positioning in regulated businesses, in particular:
- the management of water networks;
- energy infrastructure;
- environmental services.
In practice, the company will focus on activities that are more stable from a revenue point of view and less exposed to market fluctuations such as energy sales.
