Christoph's Feed
Jul 17, 2014

RWE Innogy expects strong profit growth, says Britain still attractive

ESSEN, Germany, July 17 (Reuters) – RWE Innogy, the
renewables arm of RWE, expects profits to grow
strongly over the next two years and is interested in investing
in Britain even though the company abandoned a major windfarm
project there last year.

“We see our share of RWE’s total operating profit standing
at about 10-15 percent in the mid-term, this corresponds with
the planned level of investment,” Hans Buenting, chief executive
of RWE Innogy, told Reuters in an interview.

Jul 15, 2014

“Smart” technology could make utilities more vulnerable to hackers

FRANKFURT, July 15 (Reuters) – Last November, Felix Lindner
came very close to shutting down the power supply of Ettlingen,
a town of almost 40,000 people in the south of Germany.

“We could have switched off everything: power, water, gas,”
Lindner, head of Berlin-based Recurity Labs, an IT security
company, said.

Jul 7, 2014

German utility MVV sees profits rising again -CEO

MANNHEIM, Germany, July 7 (Reuters) – MVV Energie
expects profits to recover from next year, its chief executive
said, as Germany’s fifth-largest utility banks on investments in
wind and biomass projects to escape a crisis in conventional
power generation.

Hit by a massive decline in wholesale power prices,
Mannheim-based MVV has seen its profits shrink by 14 percent
over the last four fiscal years and like larger peers E.ON
, RWE, EnBW and Vattenfall’s
German unit, is cutting costs and investing in new
businesses.

Jun 2, 2014

Solar market to nearly triple by 2018 as Asia leads Europe-EPIA

FRANKFURT, June 2 (Reuters) – Globally installed solar
capacity will nearly triple over the next four years, boosted by
strong growth in Asia, which dethroned Europe as the world’s
biggest solar market last year, according to a major industry
association.

Cumulative photovoltaic installations are seen rising to
about 374 gigawatt (GW) in 2018, compared with 139 GW last year,
the European Photovoltaic Industry Association (EPIA) said on
Monday in its annual market report.

Jun 2, 2014

Special Report: How fracking helps America beat German industry

BURGHAUSEN, Germany/GEISMAR (Reuters) – Nestled in the green hills of southern Germany, chemical giant Wacker Chemie churns out a wide range of products, from an ingredient for chewing gum to the polysilicon crystals in solar cells.

The electricity to produce all that – enough power for more than 700,000 households annually – has become more costly at Wacker’s main factory in Burghausen. It has played a big part in pushing up the firm’s total energy bill by 70 percent over the last five years, to nearly half a billion euros.

Jun 2, 2014

How fracking helps America beat German industry

BURGHAUSEN, Germany/GEISMAR, Louisiana, June 2 (Reuters)
- Nestled in the green hills of southern Germany, chemical giant
Wacker Chemie churns out a wide range of products, from an
ingredient for chewing gum to the polysilicon
crystals in solar cells.

The electricity to produce all that – enough power for more
than 700,000 households annually – has become more costly at
Wacker’s main factory in Burghausen. It has played a big part in
pushing up the firm’s total energy bill by 70 percent over the
last five years, to nearly half a billion euros.

May 20, 2014

Signs of hope for Germany’s loss-making power plants

FRANKFURT, May 20 (Reuters) – There are signs of hope for
German utilities looking for help to keep loss-making plants
open as Economy Minister Sigmar Gabriel drives energy reforms
and the regulator signals his support for lifting the sector out
of crisis.

The government wants utilities to keep gas- and coal-fired
plants open to ensure power supply when there is a lull in
variable wind or solar energy.

May 14, 2014

RWE profit tumbles as German energy upheaval grinds on

FRANKFURT, May 14 (Reuters) – RWE, Germany’s
second-biggest utility, said first-quarter operating profit fell
by almost a fifth, offering no prospect for a fast recovery from
a power sector shakeup that has more than halved the company’s
market value in four years.

German utilities are grappling with the biggest ever
upheaval in their business models, caused by weak demand for
energy in Europe and a boom in renewable energy sources that are
given priority access to power grids over their conventional gas
and coal-fired power plants.

May 13, 2014

E.ON calls for plant compensation as sector crisis bites

FRANKFURT (Reuters) – Germany’s biggest utility E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) on Tuesday called for compensation for its loss-making gas-fired power stations after posting a 12-percent fall in first-quarter earnings.

Germany’s utilities are under pressure from expansion of renewable energy capacity which is threatening the business model of their conventional power plants, most notably gas.

Apr 23, 2014

RWE eyes bigger role in energy saving business

ESSEN, Germany, April 23 (Reuters) – German utility RWE
plans to sell more energy saving products, its head of
strategy said, as it strives to offset some of the losses made
by its power plants across Europe.

European utilities are facing weak energy demand, as well as
an uncontrolled expansion of solar and wind power, which is
replacing gas and coal-fired plants and pushing many of them
into the red.

    • About Christoph

      "I'm responsible for the coverage of German renewable companies, mainly solar, at Reuters News. Previously, I have worked as a correspondent at Thomson Financial News, covering German technology and construction companies."
    • Follow Christoph