Senior Power Correspondent
Vera's Feed
Nov 13, 2012

E.ON warns of weaker power demand in Europe

FRANKFURT, Nov 13 (Reuters) – Germany’s No.1 utility E.ON
warned of weakening power demand in Europe and
signalled it may have to close plants and step up saving efforts
after cutting its outlook for next year.

“In most European markets, the gross margin for gas-fired
units is approaching zero or is indeed already negative. One
factor is that the demand for electricity remains very low,”
Chief Executive Johannes Teyssen said on Tuesday after the
company published financial results.

Nov 8, 2012

Dutch gas super store banks on better times ahead

AMSTERDAM/FRANKFURT, Nov 8 (Reuters) – A giant new Dutch gas
storage facility will collide with a weak European gas market,
hit by low demand as the continent battles its economic ills.

But it will enhance the market’s flexibility and efficiency
beyond the gas market’s short term horizon of up to 2015,
traders and analysts said.

Oct 29, 2012

EU energy rules to curb OTC trade, boost exchanges-consultant

FRANKFURT, Oct 29 (Reuters) – EU rules to toughen laws
against market abuses in gas and power trading are likely to
drive operators to exchanges and away from the bigger
over-the-counter markets (OTC), energy and financial consultancy
Baringa said on Monday.

“The intention of the new rules is to shrink the OTC market
and make it more transparent and accountable,” said Susanne
Funke, head of regulatory affairs at the consultancy, on the
sidelines of a conference.

Oct 5, 2012

Analysis: Cold, calm and cloudy may mean power cuts for Western Europe

FRANKFURT/PARIS (Reuters) – Western Europe faces a potential electricity supply crisis this winter as France and Belgium struggle with their ageing reactors and after Germany took out a big chunk of its nuclear capacity.

Tight power supply may spark local blackouts in the event of a severe cold spell and could also trigger price spikes at a time industry, bruised by the economic slowdown, badly needs to save energy costs.

Oct 5, 2012

Cold, calm and cloudy may mean power cuts for Western Europe

FRANKFURT/PARIS (Reuters) – Western Europe faces a potential electricity supply crisis this winter as France and Belgium struggle with their ageing reactors and after Germany took out a big chunk of its nuclear capacity.

Tight power supply may spark local blackouts in the event of a severe cold spell and could also trigger price spikes at a time industry, bruised by the economic slowdown, badly needs to save energy costs.

Aug 14, 2012

RWE recovery lags peer E.ON partly due to gas deals

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.

Aug 14, 2012

RWE earnings recovery lags peer E.ON

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
nuclear power.

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.

Jul 13, 2012

Russia’s Novatek makes foray into European gas trade

MOSCOW, July 13 (Reuters) – Russia’s No.2 gas producer
Novatek has signed a landmark deal to supply German
utility EnBW with gas, setting foot in the lucrative
European market, two sources familiar with the deal told Reuters
on Friday.

The agreement will also allow Novatek to start forming its
customer base in Europe as it eyes liquefied natural gas sales
to the European Union from its Arctic plant, Yamal LNG, due on
stream in 2015-2016.

Jul 12, 2012

Germany’s EnBW locks in 10-year gas supply

FRANKFURT, July 12 (Reuters) – Germany’s third-largest
utility EnBW said it had agreed a 10-year gas
procurement deal with a foreign supplier, giving it more
flexibility when it comes to deciding whether to store or sell
its gas depending on the market price.

The deal is for an annual volume of 21 billion kilowatt
hours (kWh), equivalent to 1.9 billion cubic metres (bcm) per
year, which is more than a third of its total gas sales and
enough to supply a huge industrial company, or a large number of
smaller players.

Jul 3, 2012

Gazprom bows to European client price pressure

FRANKFURT, July 3 (Reuters) – Russia’s Gazprom has
given in to customer pressure and offered German utility E.ON
a price cut on its long-term gas supplies, boding
well for other firms from Germany, Italy and Poland seeking to
renegotiate.

Germany’s biggest utility said on Tuesday it had reached a
settlement with Gazprom on long-term gas supply contracts that
would significantly raise its earnings outlook for 2012.

    • About Vera

      "I report on German power and gas markets in liaison with a team of other specialists in European bureaus. I am based in Frankfurt and previously covered commodities out of Hamburg and London. My aim is to identify market and industry trends and to produce high quality copy which is accessible to expert subscribers as well as to energy and business audiences, and to help shape our energy products."
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