Innogy Forges Ahead with U.S. Wind Plan
Innogy, Germany's largest energy group, sees no reason to scrap plans to enter the U.S. onshore wind market, its chief executive said, unimpressed by worries over future support of renewables in the wake of Donald Trump's presidency. "We are not in waiting mode in the United States. We are relatively advanced," Peter Terium told journalists at the annual Handelsblatt energy conference.
Innogy to Push Windfarms, Electric Car Charging in U.S
Innogy, Germany's largest energy group, is looking at the United States market to expand its renewable energy and electric car charging business, its chief executive told German weekly Welt am Sonntag. "We want to invest around 6.5 billion euros between 2016 and 2018," Chief Executive Peter Terium told the paper, adding that investments will include grid networks and infrastructure but also wind farms in Germany…
RWE CEO Defends Dividend Suspension ahead of Renewable,Grid IPO
Peter Terium, the boss of Germany's largest power producer RWE, on Wednesday said a controversial move to scrap the group's annual dividend had been necessary, warning that the utility was facing a downgrade by credit agencies soon. RWE in February surprised investors when it proposed to suspend its dividend for ordinary shares for the first time in at least six decades…
RWE Hires Rothschild to Advise on Renewables, Grids IPO
RWE has hired investment bank Rothschild to advise it on the planned listing of its renewables, grids and retail unit, two people familiar with the matter told Reuters, in a sign that Germany's No.2 utility is moving ahead with its restructuring. Rothschild and RWE declined to comment. RWE late last year announced it would put its renewables, networks and retail…
Shell, Statoil Among Companies Forging Climate Advice Group
Representatives from energy companies including oil heavyweights Shell and Statoil have joined forces to advise on making cleaner energy decisions, the latest push by energy firms to become more proactive on climate issues. Shell Chairman Chad Holliday, Statoil Vice-President Bjorn Otto Sverdrup and RWE Chief Executive Peter Terium are among a list of commissioners…
RWE Open to Splitting Group if Crisis Worsens
Keeps option open to explore split, no current need; crisis is far from over for utilities. Germany's largest power producer RWE will explore a split of its businesses if the sector's crisis intensifies, Chief Executive Peter Terium said, keeping open the option of a drastic overhaul similar to rival E.ON. Germany's utilities have seen their profits and share prices…
RWE Looks to Build on Gazprom Deal at Contract Talks
RWE will look to build on its current deal with Russian gas exporter Gazprom when the two sides sit down at mid-year for contract negotiations, the German utility said on Tuesday. "Our goal is a long-term solution that guarantees that a contract beyond the expiry of current agreements will no longer burden our results," RWE said. "It would be wise to base future talks with Gazprom on the existing deal…
RWE Taking No Part DEA Dispute
German utility RWE said on Tuesday it will not get involved in a potential legal dispute between Britain and Russian billionaire Mikhail Fridman's LetterOne over RWE's oil and gas business. LetterOne wrapped up the 5.1 billion euro ($5.49 billion) purchase of RWE's oil and gas unit DEA last week, but the British government threatened to force the sale of the arm's UK assets unless Fridman can assure they are immune to potential sanctions.
Wholesale Power Prices are Bottoming Out
Wholesale power prices are "bottoming out", Peter Terium, Chief Executive of Germany's No.2 utility, told analysts during a call on Thursday following the release of first-half results. Over the past six years, wholesale power prices have declined by about 60 percent, burdened by surplus capacity of renewable energy that is driving some conventional power plants out of the market. (Reporting by Christoph Steitz; Editing by Arno Schuetze)
RWE: Supply Risks, Power Crisis Bites
CEO says security of supply under threat; Germany should follow Britain, France in plant support scheme. Germany's RWE reported a 40-percent plunge in first-half profits, blaming loss-making power plants and warning that power supplies were under threat unless an ongoing crisis in Europe's energy sector was fixed. Germany's power sector has been in turmoil, hit by a prolonged period of weak energy demand…
Germany Could Stop RWE Unit Sale
Germany's Economy Ministry is investigating whether to block the sale of RWE's oil and gas unit DEA to a group of investors led by Russian tycoon Mikhail Fridman, a spokeswoman said. The German government has never previously made use of a clause in its foreign trade law, under which it could stop the deal announced earlier this year if there were concrete signs it threatened "public safety and order". "An investigation has been started.
