“RWE profits drop 13 percent as renewable shift takes toll”
German utility RWE saw a 13 percent earnings drop in the first nine months of the year, reflecting tough conditions in conventional power generation in Germany, reports Guy Chazan for the Financial Times. Earnings before interest, taxes, depreciation and amortisation stood at 3.8 billion euros, and RWE called the result “respectable … in view of the difficult conditions.” Both RWE and rival E.ON have responded to Germany’s shift to renewable energy by splitting themselves into two separate companies. RWE spun off its renewable and grid business into the subsidiary Innogy.
Read the article in English here.
Find background in the CLEW factsheet RWE’s plans for new renewable subsidiary.