FRANKFURT, July 22 German utility RWE has
increased the scope of its savings programme to 1.5 billion
euros ($2 billion), in response to falling electricity wholesale
prices and low utilisation of power plants, a German newspaper
reported on Monday.
The company has introduced a new 500 million euro cost
cutting programme, dubbed RWE Neo, for its power stations
division, Handelsblatt reported on Monday, citing sources close
to the company.
That comes on top of the group's plans to save 1 billion
euros as part of the RWE 2015 programme, the paper said.
RWE declined to comment.
($1 = 0.7611 euros)
(Reporting by Victoria Bryan and Ralf Banser; Editing by Mark