RWE is looking to make billions in profits this year
German energy utility RWE earned profits of 2.2 billion euros in the first nine months of 2017, the company announced. After record losses of 5.7 billion euros in the full year 2016, the company profited from higher prices in energy trade, and from a government pay-back of the nuclear fuel rod tax. The operating profit from RWE’s power sales, brown coal businesses, and nuclear power fell due to low wholesale electricity prices.
RWE’s green spin-off innogy registered a five percent increase in its adjusted operating result.
See the CLEW dossier Utilities and the energy transition for background.