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12 Dec 2018, 13:21
Sören Amelang

Renewable expansion boosts profits at Germany’s fifth-largest utility MVV

ARD

The roll-out of renewable energies has increased profits at Germany’s fifth-largest utility MVV Energie, according to a report by public broadcaster ARD. Operative profits at the Mannheim-based power company rose two percent to 228 million euros on sales of 3.9 billion euros. Cost reductions also helped to compensate weaker power and gas sales due to mild temperatures, according to the report. Company CEO Georg Müller called for a reliable and rapid coal exit path and a significant acceleration of Germany's renewable roll-out. "There is no alternative für climate protection and we have no time left," Müller said.

Read the article in German here.

Read a Reuters report on MVV results in English here.

Find the MVV press release in German here.

Find background in the dossier Battered utilities take on start-ups in innovation race.

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