FRANKFURT, April 24 (Reuters) – Swedish utility Vattenfall
is facing delays in the planned sale of its brown coal
assets in Germany, three people with direct knowledge of the
matter said, pointing to concerns over a proposed coal levy that
could threaten any deal.
Memos to potential buyers were originally meant to be sent
out in April, the people said, adding this was now expected only
later in the year and may take until the end of the European
ESSEN, Germany, April 23 (Reuters) – RWE Chief
Executive Peter Terium offered little hope for a fast turnaround
of Germany’s largest power producer, warning that government
plans for a coal levy would pose a threat to the company.
Germany’s utilities have seen their profits and share prices
tumble as they grapple with a restructuring of the energy sector
that has promoted solar and wind generation at the expense of
their gas-fired power stations.
FRANKFURT/DUESSELDORF (Reuters) – Johannes Teyssen, chief executive of Germany’s top utility E.ON (EONGn.DE: Quote, Profile, Research), is expected to stay on as head of the group after spinning off its power generation business and other assets into a new entity, two people familiar with the matter told Reuters.
A final decision is still outstanding, the sources said, adding such a step was planned for the end of April.
FRANKFURT, April 9 (Reuters) – Infrastructure investor First
State Investments is looking to expand its presence in Germany’s
1.7-million-kilometre network of regional power and gas grids.
Its European Diversified Infrastructure Fund (EDIF) has up
to 2 billion euros ($2.15 billion) in investor capital to buy
further gas or power networks in Germany, said Gregor Kurth,
associate director at First State Investments, the asset
management arm of Commonwealth Bank of Australia (CBA).
FRANKFURT, March 30 (Reuters) – Germany’s Irsching gas-fired
power plant, one of Europe’s newest, is to be shut down in April
next year, its operators said on Monday, as competition from
renewable energy pushes conventional stations out of business.
Irsching is one of many power stations in Germany that are
running at a fraction of the time needed to be profitable,
replaced by solar and wind energy which has priority access to
FRANKFURT/DUESSELDORF, March 27 (Reuters) – Working with a
deep-pocketed Gulf backer could be just what RWE boss
Peter Terium needs to restore shareholder confidence and escape
budget constraints that have plagued Germany’s top power
The utility last week disclosed it was in talks with an
unnamed Gulf investor, raising hopes that it could receive fresh
funds and emerge from a crisis that has saddled it with 31
billion euros ($33.6 billion) of debt.
FRANKFURT (Reuters) – A German regional court on Wednesday issued a nationwide ban on online taxi service Uber, barring it from operating commercial services and levelling stiff fines for any violations of the country’s local transport laws.
Each violation of the order against Uber and its uberPOP online service was subject to a 250,000 euro ($264,825) fine, a three-judge panel of the Frankfurt regional court ruled.
FRANKFURT, March 18 (Reuters) – Uber, the controversial
online taxi service, faced intense questioning on Wednesday
before judges in a German regional court, who said the company
violated German and European laws and setting the stage for the
court to renew a nationwide band on its uberPOP service.
The case, brought before Frankfurt’s regional court by
German taxi operator group Taxi Deutschland, is one of more than
a dozen lawsuits which have been filed in countries across
Europe in recent months against the San Francisco-based company.
FRANKFURT/MUNICH, March 17 (Reuters) – Germany’s Wacker
Chemie could hang on to the silicon wafer business
earmarked for a potential sale or stock market listing, it said
on Tuesday, adding that it will not be rushed into a decision.
The company also said it would pay a dividend of 1.50 euros
per share for 2014, up from 0.50 euros for 2013, far exceeding
analyst consensus for 0.84 euros after profit climbed last year.
KARLSRUHE, Germany, March 17 (Reuters) – EnBW,
Germany’s third-biggest utility, will cut costs further in
response to low wholesale prices and writedowns on plants,
expecting the crisis in the energy sector to reduce profits by
up to 5 percent this year.
The company is aiming to cut a further 400 million euros
($425 million) from annual costs by the end of the decade,
streamlining its business in light of record-low wholesale power
prices and a surge in renewables.