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.
BERLIN, Jan 22 (Reuters) – Germany must turn away from its
go-it-alone energy shift and work more with the European Union
to build a cost-efficient, secure and sustainable sector,
European Energy Commissioner Guenther Oettinger said on Tuesday.
“Germany has to make its energy transformation compatible
with Europe,” Oettinger said on the opening day of Germany’s
most prestigious energy gathering, the three-day annual
BERLIN, Jan 22 (Reuters) – Wholesale power prices in Germany
are at their lowest in more than three years, undermining the
profitability of fossil fuel power generation and trading, and
yet 40 million households pay record prices well above European
To explain this state of affairs, look no further than the
expansion of renewable energy installations, which provide
bursts of subsidised power often enough to trash market
LONDON/BERLIN (Reuters) – France’s Areva (AREVA.PA: Quote, Profile, Research, Stock Buzz) and Japan’s Toshiba Corp (6502.T: Quote, Profile, Research, Stock Buzz) are considering bids for nuclear fuel producer Urenco, but British, German and Dutch authorities disagree over what to do with the ultra-secret firm, industry sources said.
Britain is keen to sell its 33 percent stake, and German utilities RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz) and E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) are talking to potential buyers over their combined 33 percent, but the Dutch government is not considering a sale.
BERLIN, Jan 21 (Reuters) – The challenges of shifting to
renewable energy, such as costs, regulation, financing, and poor
reliability, will loom large for Germany’s energy leaders this
week when they meet to discuss the country’s boldest
infrastructure project since reunification.
Chancellor Angela Merkel’s decision, after Japan’s Fukushima
disaster two years ago, to abandon nuclear energy and switch to
more renewable sources like wind and solar power, is being
watched the world over as a possible model for others to follow.
FRANKFURT (Reuters) – Rupert Murdoch’s News Corp tightened its grip on Sky Deutschland on Monday, saying it would raise its stake in the German pay-TV company to 54.5 percent from just under half in a capital increase.
The move comes as media conglomerate News Corp separates its publishing and entertainment assets into two publicly traded companies following shareholder pressure to sell its troubled newspaper business and put a greater focus on the faster-growing TV companies.
LOS ANGELES/FRANKFURT, Jan 8 (Reuters) – Solar stocks kicked
off 2013 with a sharp rally, prompted in part by last week’s
news that a company controlled by Warren Buffett’s Berkshire
Hathaway Inc would pay up to $2.5 billion for two
SunPower solar projects in California.
This week, the stocks retreated after many investors and
analysts called the moves overblown, making the Buffett rally
look more like a short-term bump.