European Utilities Correspondent
Peter's Feed
Jun 21, 2011

Germany goes back to black in snub to green power

FRANKFURT (Reuters) – Germany is set to turn back to coal, gas and imports to fill the energy chasm left by its fast-track exit of nuclear power, refusing to boost green power and threatening its efforts to lower emissions.

The government permanently shut eight nuclear power plants immediately after the Fukushima crisis in Japan, and is closing the remaining nine in stages up to 2022.

Jun 20, 2011

Analysis: Germany goes back to black in snub to green power

FRANKFURT (Reuters) – Germany is set to turn back to coal, gas and imports to fill the energy chasm left by its fast-track exit of nuclear power, refusing to boost green power and threatening its efforts to lower emissions.

The government permanently shut eight nuclear power plants immediately after the Fukushima crisis in Japan, and is closing the remaining nine in stages up to 2022.

May 31, 2011

German nuclear exit limits power competition: regulator

FRANKFURT (Reuters) – Competition in the German power market will be hampered for at least another two years until new power stations partially replace eight plants shut down by the government, the country’s network regulator said.

The government decided on Monday to phase out nuclear power in Germany, Europe’s largest power market, by 2022 due to public opposition after the disaster at Japan’s Fukushima power station.

May 26, 2011

E.ON, RWE energy trading woes set to exacerbate

FRANKFURT/LONDON (Reuters) – Energy traders at E.ON (EONGn.DE: Quote, Profile, Research) and RWE (RWEG.DE: Quote, Profile, Research) are set to deliver a weak performance this year after being hit by the Japanese nuclear disaster and rising competition from renewable energy.

Traders at Europe’s largest and fifth-largest utilities had been expecting power and gas prices to fall when the tsunami hit Japan, causing the worst nuclear disaster in 25 years and prompting the German government to shut several nuclear plants.

May 25, 2011

Analysis: E.ON, RWE energy trading woes set to exacerbate

FRANKFURT/LONDON (Reuters) – Energy traders at E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) and RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz) are set to deliver a weak performance this year after being hit by the Japanese nuclear disaster and rising competition from renewable energy.

Traders at Europe’s largest and fifth-largest utilities had been expecting power and gas prices to fall when the tsunami hit Japan, causing the worst nuclear disaster in 25 years and prompting the German government to shut several nuclear plants.

May 12, 2011

German gains help RWE beat profit forecasts

FRANKFURT, May 12 (Reuters) – RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz), Europe’s
fifth-largest utility beat profit forecasts in the first quarter
by gaining market share in Germany and cutting costs in Britain.

Operating earnings in the three months through March were
2.8 billion euros ($4.03 billion), the Essen-based company said
on Thursday, compared with the 2.6 billion euro average of 15
estimates from analysts in a Reuters poll. [ID:nLDE7490QF].

May 6, 2011

Iberdrola, RWE held abortive merger talks-sources

FRANKFURT, May 6 (Reuters) – Germany’s RWE (RWEG.DE: Quote, Profile, Research) and
Iberdrola (IBE.MC: Quote, Profile, Research) came close to announcing a 60 billion-euro

($87 billion) combination in February but the Spanish utility
pulled out of talks, sources familiar with the matter said.

May 5, 2011

European utilities propped up by Brazil, grids

MADRID/FRANKFURT, May 5 (Reuters) – Soaring growth in Brazil
and regulated grid activities helped European utilities offset
weak power prices on the continent in the first quarter, while
companies without overseas businesses suffered.

Spanish utility Iberdrola (IBE.MC: Quote, Profile, Research, Stock Buzz), whose international
activities make up 60 percent of its business, reported 4
percent growth in its first-quarter operating profit, while
domestic peer Gas Natural (GAS.MC: Quote, Profile, Research, Stock Buzz), with about 30 percent of its
business in Latin America, reported flat operating profit.

Mar 9, 2011

E.ON sees profit drag lasting through 2012

DUESSELDORF, Germany, March 9 (Reuters) – German utility
E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) sees two tough years ahead as the cost of a tax
deal struck with the government on nuclear plants, lower power
prices and higher gas costs keep a lid on profit.

The world’s second-largest utility forecast an expected
decline in core profit this year and said the same factors would
continue to drag on earnings in 2012.

Mar 8, 2011

E.ON seeks new markets as disposals crimp profit

FRANKFURT, March 9 (Reuters) – German group E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz),
the world’s second-largest utility, is under pressure to show
investors it can deliver growth as it sells large parts of its
profitable European business to cut debt.

E.ON will shed traditional core businesses worth 15 billion
euros ($21 billion) as power prices stagnate in Europe, gas
prices slump and the economic crisis hammers energy demand, in
favour of a shift to two new overseas markets. [ID:nN01119969]