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
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
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.
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.
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.
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.
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.
FRANKFURT, Aug 14 (Reuters) – Profit growth at RWE
lagged main peer E.ON on Tuesday, reflecting a slower
adjustment by Germany’s No.2 utility to the country’s exit from
RWE’s first-half earnings before interest, tax, depreciation
and amortisation (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.
BRUSSELS/FRANKFURT, July 29 (Reuters) – Germany’s decision
to abandon nuclear energy and dwindling domestic subsidies for
renewables have stoked a dazzlingly ambitious plan to expand
Europe’s energy market into North Africa, with an array of giant
solar and wind plants glinting in the desert sun.
Desertec, a German consortium set up in 2009, envisages
Europe will import up to a fifth of its electricity from solar
and wind parks in North Africa and the Middle East by 2050.
DUESSELDORF/FRANKFURT, July 25 (Reuters) – The solar
industry’s ongoing trade war reached Europe after a group of
solar companies, led by Germany’s SolarWorld, filed an
anti-dumping complaint against Chinese rivals with the European
Commission, a person familiar with the matter said.
A spokesman for SolarWorld — which had previously signalled
its intention to submit a complaint — declined to comment,
saying only that the group would publish a press release on the
matter at the end of the week.
WUERGASSEN, Germany, July 17 (Reuters) – Peter Klimmek has
spent his entire career at a nuclear plant in Germany. Next
year, he will retire — just months before his workplace does.
The nuclear plant in the small and remote village of
Wuergassen, halfway between Frankfurt and Hamburg, has been
Klimmek’s passion for the past 37 years.