FRANKFURT (Reuters) – RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz) and Russia’s Gazprom (GAZP.MM: Quote, Profile, Research, Stock Buzz) are both willing to develop further their exclusive talks, begun last month, on power station ventures and gas prices, the German utility said on Tuesday.
“There is a match of interests. We want to conclude a new, modernized gas supply treaty with our biggest supplier … while Gazprom for its part wants to increase its value creation here,” Chief Executive Juergen Grossmann said in a press call.
FRANKFURT (Reuters) – RWE’s (RWEG.DE: Quote, Profile, Research, Stock Buzz) first-half core net profit fell 40 percent, hit by a government decision to phase out nuclear power and unprofitable gas sales, highlighting the problems faced by the German utility’s new CEO-designate.
Germany’s largest power producer said on Tuesday first-half profit took a 900 million euro ($845 million) hit from provisions to decommission nuclear power plants, the write-off of nuclear fuel rods and a nuclear fuel tax.
FRANKFURT, Aug 9 (Reuters) – First-half core net profit at
RWE plunged 40 percent, hit by Germany’s decision to
phase out nuclear power , a nuclear fuel tax and
unprofitable gas sales.
Germany shut down eight nuclear power plants after
Japan’s Fukushima nuclear disaster and decided to phase out
nuclear power completely by 2022, overturning legislation that
had originally extended the lifespan of 17 nuclear power
BERLIN, June 30 (Reuters) – Germany’s E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) feels
no pressure to replace nuclear power plants with alternatives
after a national policy shift in energy policy.
“There is no strategy to replace lost nuclear capacity
one-to-one. As an entrepreneur I always ask myself is my
investment profitable?,” Chief Executive Johannes Teyssen said
on Thursday on the sidelines of a conference.
BERLIN, June 30 (Reuters) – Germany’s lower house of
parliament overwhelmingly approved an exit from nuclear energy
by 2022, setting the seal on a policy U-turn by Chancellor
Angela Merkel driven by Japan’s Fukushima disaster.
Opposition deputies from the centre-left Social Democrats
(SPD) and Green Party joined lawmakers in Merkel’s centre-right
coalition in supporting the key measure in an energy reform bill
in its third and final reading.
BERLIN, June 30 (Reuters) – Germany’s parliament looked set
on Thursday to approve an exit from nuclear energy by 2022, a
U-turn by Chancellor Angela Merkel driven by Japan’s Fukushima
crisis and described by anti-nuclear opponents as a victory.
Calling it Merkel’s “Waterloo”, the centre-left Social
Democrats (SPD) and Greens said the nuclear phase-out vindicated
three decades of bitter opposition to nuclear power in Germany.
BERLIN (Reuters) – An uncontrolled renewable power expansion in Germany could threaten the stability of energy grids, the head of energy agency Dena told Reuters on Wednesday.
Failure to connect new capacity near demand centers or near transport grids or storage facilities would waste assets or put at risk the grids’ stability, said Dena’s director, Stephan Kohler, in an interview on the sidelines of a sector conference.
BERLIN, June 29 (Reuters) – European power futures prices
are too low to justify building the new gas-fired power plants
needed after Germany’s exit from nuclear energy, an RWE board
member said on Wednesday.
“The market does not warrant investments in gas-to-power
stations,” said RWE’s strategy chief Leonard Birnbaum to
reporters during the energy industry lobby BDEW’s annual
congress in Berlin.
FRANKFURT (Reuters) – Friday marked the point of no return for the permanent shutdown of a major slice of Germany’s nuclear energy, leaving a range of unresolved problems caused by the politically-driven reaction to the Fukushima crisis.
Germany’s biggest utility RWE, the last to fall in line, left it until the day before Friday’s deadline to pass on any chance to reopen its Biblis B reactor.
LONDON (Reuters) – Germany’s E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) on Wednesday said it was making progress with gas contract pricing and sales to European markets, where margin squeezes at its flagship company E.ON Ruhrgas have hit the utility group’s earnings.
Board member Joergen Kildahl, speaking at the Reuters Global Energy and Climate Summit, also said the company would identify in the autumn what overseas markets it was considering to compensate for falling margins in Europe.