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Nov 14, 2012

Trading, savings trigger RWE outlook hike

FRANKFURT, Nov 14 (Reuters) – Germany’s No.2 utility RWE
raised its outlook for 2012 core earnings, helped by
cost cuts, disposals and an improved performance at its energy
trading unit.

RWE said on Wednesday its capital expenditure was down by 1
billion euros ($1.27 billion) in the first nine months of 2012,
while the recent sale of assets, including its stake in British
nuclear joint venture Horizon, has gained momentum.

Nov 13, 2012

E.ON warns of weaker power demand in Europe

FRANKFURT, Nov 13 (Reuters) – Germany’s No.1 utility E.ON
warned of weakening power demand in Europe and
signalled it may have to close plants and step up saving efforts
after cutting its outlook for next year.

“In most European markets, the gross margin for gas-fired
units is approaching zero or is indeed already negative. One
factor is that the demand for electricity remains very low,”
Chief Executive Johannes Teyssen said on Tuesday after the
company published financial results.

Nov 12, 2012

E.ON says to review 2013 outlook

FRANKFURT (Reuters) – Germany’s largest utility, E.ON AG (EONGn.DE: Quote, Profile, Research, Stock Buzz), warned it was reviewing its earnings outlook for 2013, citing weak economic conditions that have hurt the energy industry.

“Considering the substantial economic risks and the structural changes of the industry sector (the outlook) no longer seems to be achievable,” E.ON said late on Monday in an unscheduled statement after market closing.

Nov 12, 2012

Weak economy forces E.ON to review 2013 outlook

FRANKFURT, Nov 12 (Reuters) – Germany’s largest utility,
E.ON AG, warned it was reviewing its earnings outlook
for 2013, citing weak economic conditions that have hurt the
energy industry.

“Considering the substantial economic risks and the
structural changes of the industry sector (the outlook) no
longer seems to be achievable,” E.ON said late on Monday in an
unscheduled statement after market closing.

Nov 9, 2012

EnBW reiterates outlook for small drop in 2012 core earnings

FRANKFURT, Nov 9 (Reuters) – EnBW, Germany’s
third-biggest utility, repeated its outlook for a 5 percent fall
in core earnings this year due to low power prices and the
phase-out of two nuclear plants, after posting a slight decline
for the nine months.

It reiterated its August outlook for adjusted earnings
before interest, tax, depreciation and amortisation (EBITDA) to
fall about 5 percent from last year’s 2.45 billion euros ($3.1
billion). Before August, it had expected a 10 to 15 percent
drop.

Nov 8, 2012

SMA Solar to cut more costs ahead of dire 2013

FRANKFURT, Nov 8 (Reuters) – SMA Solar, Germany’s
No. 1 solar group, said it was to cut costs further given that
margins may evaporate next year because of falling subsidies for
solar power.

SMA, the world’s largest maker of solar inverters – a key
component in solar installations, said on Thursday it would
further cut the price of inverters by slashing production costs
and purchasing prices.

Oct 31, 2012

German solar power boom continues despite tariff cuts

FRANKFURT, Oct 31 (Reuters) – Germany’s solar power systems
market continued to grow strongly in September, putting Europe’s
biggest economy on track for a new installation record this year
and increasing pressure on the ruling coalition to curb the
spiralling costs to consumers.

In September nearly 1 gigawatt (GW) of new solar power
generating capacity was installed, the energy network regulator
Bundesnetzagentur said on Wednesday, bringing the total of new
installations in the January-September period to about 6.2 GW.

Oct 25, 2012

RWE may have to adjust asset sale goals: CEO

FRANKFURT (Reuters) – The chief executive of Germany’s second-biggest utility RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz) signaled on Wednesday that it may take longer to sell up to 7 billion euros ($9.08 billion) in assets which it currently plans to dispose of by the end of next year.

In an interview with Reuters, Peter Terium said there were more sellers than buyers in the market for utility assets and that this was depressing prices.

Oct 15, 2012

German green power surcharge to rise 47 pct in 2013

FRANKFURT, Oct 15 (Reuters) – Subsidies levied on German
consumers to support renewable power will rise by 47 percent
next year, putting pressure on Chancellor Angela Merkel’s ruling
coalition to keep energy costs in check ahead of a federal
election next year.

Merkel’s decision to abandon nuclear power following last
year’s Fukushima disaster has led to a growing need for
alternative energy sources, causing higher charges that are
tagged on to consumers’ energy bills.

Aug 14, 2012

RWE recovery lags peer E.ON partly due to gas deals

FRANKFURT (Reuters) – Profit growth at RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz) lagged that of its main peer E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz), reflecting a slower adjustment by Germany’s No.2 utility to the country’s exit from nuclear power and underlining the group’s need to renegotiate expensive gas contracts.

RWE said on Tuesday its core earnings (EBITDA) rose 9 percent year-on-year to 5.04 billion euros ($6.23 billion) compared with E.ON’s 55 percent increase posted on Monday.

    • 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."
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