FRANKFURT/MUNICH, Germany, March 14 (Reuters) – Germany’s
Wacker Chemie, the world’s No. 2 maker of polysilicon,
cut its dividend for 2012 by nearly three quarters as profits
tumbled and forecast falling earnings this year, blaming
consolidation in the solar sector.
Prices of polysilicon, a key ingredient needed to make solar
cells, plunged 47 percent last year due to global oversupply
triggered by years of government incentives in Germany and other
countries to encourage consumers to shift to solar energy. Those
incentives are now being scaled back.
DUESSELDORF, Germany, March 13 (Reuters) – E.ON
said it wanted to close the sale of its stake in uranium
enrichment firm Urenco this year or next, as part of a drive to
shed assets and cut its massive debts.
The utility, hit by Germany’s decision to pull out of
nuclear power, stagnating energy demand in Europe and high
borrowings, plans to offload up to 20 billion euros worth of
operations, including non-core nuclear businesses.
FRANKFURT/MILAN, March 8 (Reuters) – Renewable energy is
constantly evolving and challenging traditional utilities but
one growing sector could make home-generated power much easier
to use and cut customers’ dependence on energy companies
dramatically – solar batteries.
A major conundrum with solar panels has always been how to
keep the lights on when the sun isn’t shining.
ESSEN, Germany, March 5 (Reuters) – Germany’s No. 2 utility
RWE has put its oil and gas exploration unit up for
sale in a move that could raise about 4.6 billion euros ($6
billion) for its drive to cut debt.
RWE had previously said it only wanted to sell parts of the
unit, called DEA, which accounted for 23 percent of the group’s
operating profit in 2012.
FRANKFURT, March 4 (Reuters) – Germany’s plan to curb rising
energy costs for consumers before a September election may
backfire if it scares off the investors desperately needed to
fund an ambitious shift from nuclear to renewable energy.
Chancellor Angela Merkel’s 550-billion euro ($714 billion)
energy shift, dubbed “Energiewende”, was unveiled nearly two
years ago after Japan’s Fukushima disaster and depends on the
financial firepower of pension funds, infrastructure investors
and utilities, including the likes of Allianz, Munich
Re, E.ON and RWE.
FRANKFURT/MUNICH, Feb 7 (Reuters) – Wacker Chemie
said rising demand in China and the United States had halted a
slide in the price of polysilicon, potentially brining an end to
years of margin declines for a key ingredient needed for making
“It looks as if prices for polysilicon have reached a
floor,” Chief Financial Officer Joachim Rauhut said, adding the
world’s No.2 maker of polysilicon still had a tough first
quarter ahead of it.
FRANKFURT/DUESSELDORF, Feb 1 (Reuters) – Workers at E.ON
are planning the first strike in its more than
12-year history to start on Feb. 4, unions said, adding to
pressures on Germany’s top utility from economic stagnation and
“The strikes will begin on Monday,” Volker Stueber, a
negotiator at the Verdi trade union, said on Friday.
FRANKFURT, Jan 30 (Reuters) – E.ON, Germany’s
largest utility, said earnings could fall by a
larger-than-expected 15 percent this year and it would close
plants and cut investment to cope with falling demand for energy
in recession-hit Europe.
Energy providers across Europe are struggling with low
prices and excess capacity following a protracted period of
economic stagnation as the continent battles to rein in its
debts, and there seems little prospect of a rapid recovery.
BERLIN, Jan 23 (Reuters) – Germany’s impending energy shift
has set a host of companies, from conglomerates to niche
specialists, jostling for position to capitalise on the
country’s most ambitious infrastructure project in recent
“This is the most exciting time in Germany’s energy sector
since the end of the 1960s, when we saw the last wave of big
grid investments,” says PSI AG Chief Executive Harald
BERLIN/AMSTERDAM, Jan 22 (Reuters) – Germany gave the green
light to its utilities’ plans to sell their stakes in Urenco,
clearing the way for a long-awaited tender for the world’s
second-largest maker of nuclear fuel.
A consortium behind a former Urenco director told Reuters on
Tuesday it was ready to make a bid for the unlisted uranium
enricher, which it values at around 10 billion euros.