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- OTCPK - Current
  • Mar. 5, 2013, 10:40 AM
    German utility RWE (RWEOY.PK) says it will sell its oil and gas exploration and production business, which could raise close to €5B ($6.5B) in its drive to cut debt. The move comes as it reports a 28% drop in net profit for 2012, weighed by writedowns on the value of its power plants in Europe, and warns its earnings will remain under intense pressure in the years to come.
    | Mar. 5, 2013, 10:40 AM | Comment!
  • Jun. 6, 2012, 1:00 PM
    Maybe what's really hurting Angela Merkel politically are rising electricity costs, up more than 10% with more price hikes to come as the country phases out nuclear energy in favor of trendier sources. Much of the increase is to finance solar subsidies, which Merkel would like to end, but as of yet has been unable to.
    | Jun. 6, 2012, 1:00 PM | 1 Comment
  • Mar. 29, 2012, 7:00 AM
    E.ON (EONGY.PK) and RWE (RWEOY.PK) scuttle a joint plan to build nuclear power stations in the U.K. worth up to £15B ($23.78B) - potentially damaging the government's stated goal to see new plants by 2025. The German utilities say they made their "strategic decision" because of the slow pace and high costs of the project.
    | Mar. 29, 2012, 7:00 AM | 2 Comments
  • Feb. 9, 2012, 11:52 AM
    German utility RWE AG (RWEOY.PK -2.1%) gives back some of its strong 2012 gains after announcing plans to sell its Czech natural gas pipeline, part of a process of strengthening its balance sheet amidst a slow economy and a German push to abandon nuclear power.
    | Feb. 9, 2012, 11:52 AM | 1 Comment
  • Feb. 1, 2012, 11:52 AM
    Among the big gainers in Europe are German utilities RWE (RWEOY.PK +4.6%) and E.ON (EONGY.PK +3.6%). RWE received a boost from Morgan Stanley adding the name to its best ideas list. This follows last week's upgrade by JPMorgan. The companies had an ugly 2011, but now sport head-turning double-digit yields.
    | Feb. 1, 2012, 11:52 AM | Comment!
  • Dec. 13, 2011, 7:42 AM
    E.ON's (EONGY.PK) €3B impairment charge bomb yesterday looks ugly, but can't be a total surprise and might be the sort of "kitchen sink" operation that assures the news can only get better in 2012 and beyond, says the group at CreditSights. Germany's largest utility, it is off 27% YTD, and yields 9.7%. Another German utility, RWE (RWEOY.PK) is off 47% YTD, and yields 14.5%.
    | Dec. 13, 2011, 7:42 AM | Comment!
  • Dec. 12, 2011, 3:49 PM
    EON AG (EONGY.PK -6.7%), Germany's largest utility, will book an impairment charge of about €3B due to lower prices and "regulatory intervention" in Italy and Spain. Struggling to bring its cost structure down to deal with Germany's withdrawal from nuclear energy, the company earlier announced job cuts in the 9K-11K range.
    | Dec. 12, 2011, 3:49 PM | Comment!
  • Dec. 6, 2011, 7:03 AM
    German energy producer RWE (RWEOY.PK) dives 9% in Frankfurt after announcing plans to raise €2.1B in capital through a share sale as it copes with phasing out nuclear power production. "Talks about a looming rating downgrade and the capital increase are over now and the stock has a great chance to perform very well," says an analyst.
    | Dec. 6, 2011, 7:03 AM | Comment!
  • Aug. 31, 2011, 1:21 PM
    The Bundesnetzagentur warns of increased risk of large-scale blackouts, especially in the winter months - the result of the permanent closure of 8 nuclear reactors in Germany. The agency's chief, Matthias Kurth, calls on the industry to get moving with investment in new infrastructure.
    | Aug. 31, 2011, 1:21 PM | Comment!
  • Jul. 14, 2011, 1:55 PM
    RWE (RWEOY.PK) and Gazprom (OGZPY.PK) plan to meet over three months to discuss a joint venture to operate and build gas and coal-fired power plants. The gradual move away from nuclear energy by Germany could ignite domestic concerns over dependence on foreign companies like Gazprom.
    | Jul. 14, 2011, 1:55 PM | Comment!
  • Jun. 13, 2011, 10:24 AM
    German power companies prepare a lawsuit against the government for "wiping out ... power production rights with a stroke of the pen." The recent decision to eliminate nuclear power nixes a decade-old agreement to allow plants a certain amount of production until closure.  EONGY.PK +1.4%, RWEOY.PK +1.2%.
    | Jun. 13, 2011, 10:24 AM | 2 Comments
  • May 30, 2011, 12:41 AM
    Germany pledges to shut down all of its nuclear facilities by 2022. With nuclear power supplying nearly 25% of the country's energy needs, it will be up to alternative sources to fill the void, a process Angela Merkel hopes to help along with a series of bills to be introduced next week.
    | May 30, 2011, 12:41 AM | 13 Comments
  • Apr. 20, 2011, 10:09 AM
    "The German government has applied the motto: first switch them off; then test them," says RWE's (RWEOY.PK +2.0%) CEO, criticizing the response to Japan's nuclear emergency. RWE sticks to its earnings forecast, despite the harsher regulatory stance.
    | Apr. 20, 2011, 10:09 AM | Comment!
  • Mar. 15, 2011, 11:49 AM
    Nuclear-dependent France orders safety checks of its 58 plants, but Prime Minister Francois Fillon says it's "absurd" to think the Japanese plant explosions will "condemn" the nuclear energy from which France gets most of its power. Areva (ARVCY.PK) -6.7%; RWE (RWEOY.PK) -3.9%. GE -3%. (earlier)
    | Mar. 15, 2011, 11:49 AM | Comment!
  • Mar. 15, 2011, 10:15 AM
    As a quickly called conference of energy ministers gets underway, a spokesperson says the EU is considering performing stress tests on all of its 143 nuclear facilities. Also to be discussed, Angela Merkel's decision to take 7 of Germany's nuclear plants offline.
    | Mar. 15, 2011, 10:15 AM | 2 Comments
  • Mar. 15, 2011, 7:34 AM
    Angela Merkel orders the shutting of 7 German nuclear reactors built before 1980 while a 3 month safety review takes place. German nuclear power plant operators fall for a 2nd day in Europe. EONGY.PK -3.8%, RWEOY.PK -4.1%.
    | Mar. 15, 2011, 7:34 AM | 5 Comments
Company Description
RWE AG is a German electric utilities company based in Essen, North Rhine-Westphalia. Through its various subsidiaries, the energy company supplies electricity and gas to more than 20 million electricity customers and 10 million gas customers, principally in Europe. RWE is the second largest... More
Sector: Utilities
Industry: Water Utilities
Country: Germany