European Utilities Correspondent
Peter's Feed
Oct 27, 2011

Economic gloom curbs Lufthansa growth plan

FRANKFURT, Oct 27 (Reuters) – Deutsche Lufthansa
slashed its plans to expand capacity next year, signalling dim
prospects for a recovery of the air travel industry.

“The outlook for the world economy has become much gloomier
over the course of the year,” Europe’s biggest airline by market
value said on Thursday as it published weaker than expected
third-quarter results.

Oct 25, 2011

German power grids set for weaker hit on profits-source

FRANKFURT, Oct 25 (Reuters) – Power grids in Germany are
set for a smaller hit to their profitability than initially
planned by the grid regulator, said a person with knowledge of
the matter.

That would make investment in power grids more attractive
as Europe’s largest electricity market seeks billions of euros
to make its energy supply greener.

Oct 25, 2011

E.ON bids in fire sale of Portugal’s EDP: source

FRANKFURT (Reuters) – Germany’s E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz), the world’s largest utility by sales, has made an offer to the Portuguese state for its minority stake in national power provider EDP, a person with knowledge of the matter told Reuters on Tuesday.

A spokesman for E.ON declined to comment.

Portugal is selling its stakes in EDP as well as power grid operator REN (RENE.LS: Quote, Profile, Research, Stock Buzz) — held to have some control over vital infrastructure and services — as part of a 78-billion-euro EU/IMF bailout, which states the country has to divest the shareholdings by year-end.

Oct 6, 2011

Court rules state’s buy of EnBW stake unlawful

STUTTGART, Germany (Reuters) – The constitutional court of the German state of Baden-Wuerttemberg ruled on Thursday that the state government’s purchase of EDF’S (EDF.PA: Quote, Profile, Research, Stock Buzz) 45 percent stake in utility EnBW (EBKG.DE: Quote, Profile, Research, Stock Buzz) was unlawful.

The court said that Stefan Mappus, the state’s conservative premier at the time, should have consulted the state parliament in Stuttgart before agreeing to the 4.7 billion euro ($6.26 billion) deal in December 2010.

Sep 30, 2011

Axel Springer offers to buy parts of WAZ media

FRANKFURT, Sept 30 (Reuters) – German publisher
Axel Springer AG (SPRGn.DE: Quote, Profile, Research, Stock Buzz) has made an offer for parts of WAZ
media group, one of the country’s largest publishing houses,
setting up a bid battle with a WAZ shareholder.

A spokeswoman for Axel Springer on Friday confirmed a media
report, saying the Berlin-based publisher made an offer and that
due diligence was still pending, declining to say how much money
Springer had offered.

Jul 20, 2011

German utilities look to Russia for gas and money

FRANKFURT, July 20 (Reuters) – Germany’s nuclear phase-out
has prompted the country’s largest utilities to look to energy
heavyweight Russia for investments and for natural gas for
low-carbon power production.

RWE , Germany’s largest power producer, last week
revealed it had begun exclusive talks with Russian gas monopoly
Gazprom , the world’s largest gas producer, about gas
and power joint-ventures.

Jul 14, 2011

RWE teams up with Gazprom, sells grid

FRANKFURT, July 14 (Reuters) – German utility RWE
agreed to sell its high-voltage power grid and teamed up with
Gazprom for power projects, trying to overcome severe
hits to its profit from the economic crisis and a German tax.

RWE, Europe’s fifth-largest utility, secured exclusive talks
with Russian gas monopoly Gazprom that could lead to a
gas and coal power joint venture in Germany, Britain and the
Benelux countries.

Jul 14, 2011

RWE sells German grid in 1 bln euro deal -source

FRANKFURT, July 14 (Reuters) – Germany’s RWE ,
Europe’s fifth-largest utility, agreed to sell its German
long-distance power grid in a 1 billion euro ($1.4 billion)
deal, a person close to the buying consortium said on Thursday.

“There is an agreement on the deal,” the source, who
declined to be identified, told Reuters on Thursday.

Jul 13, 2011

RWE may seal 1 bln eur grid sale this week -sources

DUESSELDORF/FRANKFURT, July 13 (Reuters) – Germany’s RWE
, Europe’s fifth-largest utility, might be able to
clinch a 1 billion euro ($1.4 billion) deal to sell its German
long-distance power grid this week, two people familiar with the
matter told Reuters.

“We are close to the end,” said a third person, who is close
to the potential buyers, on Wednesday.

Jul 11, 2011

German watchdog would examine any Gazprom-RWE deal

FRANKFURT/DUESSELDORF (Reuters) – Germany’s cartel office said on Monday it would “closely” examine any investment by Gazprom (GAZP.MM: Quote, Profile, Research, Stock Buzz) in RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz) after reports the weakened German utility was open to an investment by the Russian gas monopoly.

Essen-based RWE has been hit by loss-making gas contracts and weak power prices, and is also under threat from a German tax on nuclear fuel that came into effect this year.