Likewise, RWE, Germany’s number two, is keen to present itself as a valuable investment in its capital market presentation. Management expects that in the mid-term, revenue from power stations and gas trading will almost evaporate but maintains that income from regulated businesses such as its distribution network will remain stable. From 2014 to 2016, only less than two billion euros will be invested in new large-scale projects, including green energy. Overall, investment shrinks by two thirds over five years. RWE also explains how it plans to grow in smart energy services.