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Key Developments: RWE AG (RWEG.DE)

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Latest Key Developments (Source: Significant Developments)

RWE AG - German nuclear plant infected with computer viruses, operator says - Reuters News
Tuesday, 26 Apr 2016 08:24pm EDT 

RWE AG:A nuclear power plant in Germany has been found to be infected with computer viruses, but they appear not to have posed a threat to the facility's operations because it is isolated from the Internet, the station's operator said on Tuesday.The Gundremmingen plant, located about 120km (75 miles) northwest of Munich, is run by the German utility RWE.The viruses, which include "W32.Ramnit" and "Conficker", were discovered at Gundremmingen's B unit in a computer system retrofitted in 2008 with data visualisation software associated with equipment for moving nuclear fuel rods, RWE said.Malware was also found on 18 removable data drives, mainly USB sticks, in office computers maintained separately from the plant's operating systems. RWE said it had increased cyber-security measures as a result.W32.Ramnit is designed to steal files from infected computers and targets Microsoft Windows software, according to the security firm Symantec.First discovered in 2010, it is distributed through data sticks, among other methods, and is intended to give an attacker remote control over a system when it is connected to the Internet.Conficker has infected millions of Windows computers worldwide since it first came to light in 2008. It is able to spread through networks and by copying itself onto removable data drives, Symantec said.RWE has informed Germany's Federal Office for Information Security, which is working with IT specialists at the group to look into the incident.  Full Article

RWE launches future-oriented business with new subsidiary
Wednesday, 30 Mar 2016 08:00pm EDT 

RWE AG:New company for renewables, grids and retail in Germany and internationally starts operating.Further decisions made regarding management Team.New company is headquartered in Essen.  Full Article

RWE AG - UK's Competition Markets Authority proposes energy price cap for some customers - Reuters News
Wednesday, 9 Mar 2016 09:05pm EST 

RWE AG:Britain's competition watchdog wants to impose an energy price cap for 4 mln households on pre-payment meters, a document seen by Reuters showed, a watering down of previous proposals - RTRS.The Competition Markets Authority (CMA) proposals on Thursday are the provisional outcome of an investigation into whether the country's largest energy suppliers, also known as the "Big Six", have distorted competition in the energy market.The inquiry, which was launched in June 2014, is intended to clear up once and for all whether SSE, Iberdrola's Scottish Power, Centrica, RWE npower, E.ON and EDF Energy were abusing their control of the market.The price control for pre-payment meter customers would reduce their bills by a total of 300 million pounds a year and will remain in place until 2020, the CMA said.Last year, the CMA had proposed a price cap for all customers on the most expensive tariffs.On Thursday, the CMA said that in total, customers may have been paying around 1.7 billion pounds a year more than they would have done in a competitive market.The watchdog also proposed that a database is created, to be controlled by the energy regulator, to allow rival suppliers to contact customers who have been on more expensive tariffs for three years or more with better deals.  Full Article

RWE AG's British unit npower axes 2,400 jobs
Tuesday, 8 Mar 2016 02:00am EST 

RWE AG:Npowe, British unit of RWE says it will cut 2,400 out of 11,500 positions, either as employees or through partners.  Full Article

RWE AG confirms FY 2016 outlook
Tuesday, 8 Mar 2016 01:00am EST 

RWE AG:Confirms outlook for 2016, expects EBITDA of 5.2-5.5 billion euros, operating profit of 2.8-3.1 billion euros, adjusted net income of 0.5-0.7 billion euros.Expects lower profits in 2016 due to ongoing decline in margins in conventional power generation.  Full Article

RWE AG's npower plans to cut around 2,500 jobs - Sky News - Reuters News
Sunday, 6 Mar 2016 04:38am EST 

RWE AG:RWE's British unit npower plans to cut around 2,500 jobs as it seeks to improve its financial performance, Sky News reported on Sunday, citing unidentified sources. - RTRS.RWE said in a trading update in November that npower had lost around 200,000 customers in Britain since the start of the year, sending the division to an unexpected operating loss of 66 million euros ($73 million) during the first nine months of 2015.In December it was fined 26 million pounds ($37 million), the largest ever fine for a British power utility, after overcharging customers and improperly handling customer complaints.Npower, which employs around 9,700 staff according to its website, was not immediately available to comment.  Full Article

RWE unit takes over customer portfolio of Hungarian company TIGÁZ
Thursday, 25 Feb 2016 05:00am EST 

RWE AG:RWE subsidiary ELMŰ-ÉMÁSZ takes over customer portfolio of Hungarian company TIGÁZ, a subsidiary of Italian energy utility Eni.  Full Article

RWE AG to propose FY 2015 dividend, issues FY 2016 outlook in line with analysts' estimates
Wednesday, 17 Feb 2016 03:16am EST 

RWE AG:To propose dividend of 0.13 euros per preferred share and suspension of dividend for ordinary shares​.For 2016, expects EBITDA of 5.2 to 5.5 billion euros, operating result of 2.8 to 3.1 billion euros and adjusted net income of 0.5 to 0.7 billion euros.FY 2016 EBITDA 5,539 million euros - Thomson Reuters I/B/E/S.FY 2016 operating income 3,094 million euros - Thomson Reuters I/B/E/S.FY 2016 net income 657.12 million euros - Thomson Reuters I/B/E/S.  Full Article

RWE AG rejects fresh calls for end to coal generation - Reuters
Monday, 18 Jan 2016 09:52pm EST 

RWE AG:RWE , rejected on Tuesday fresh calls from opposition parties and environmentalists to phase out coal power generation - RTRS.The discussion over the technology's damaging carbon emissions was given fresh impetus by the multi-nation climate protection deal struck in Paris last month, resulting in renewed calls on the German government to exit coal in parallel to nuclear energy, which will be abandoned by 2022. - RTRS."I think the whole debate (about exiting coal) is unnecessary," RWE Chief Operating Officer Rolf Martin Schmitz told Reuters on the sidelines of an industry event about the country's strategy to shift away from conventional energy towards renewables, called the Energiewende. - RTRS.The utilities have stressed that steps undertaken in 2015 to move domestic brown coal plants into a reserve scheme later this decade, as well as dismal power generation profits, were sufficient to see the gradual end of coal burning. - RTRS.  Full Article

RWE and E.ON jointly sell their minority stakes in the Luxembourg utility Enovos
Tuesday, 22 Dec 2015 07:00pm EST 

RWE AG:RWE and E.ON have yesterday signed agreement to jointly sell their respective 18.4 pct and 10 pct shareholding in Luxembourg utility Enovos International S.A. to a consortium led by Grand Duchy of Luxembourg and Ardian.Transaction is expected to close in the first quarter of 2016.Parties agreed to not disclose the purchase price.  Full Article

German power firms to partner carmakers in electric future -RWE

FRANKFURT, May 25 German utilities are likely to partner with automakers to tap into a 1 billion euro ($1.1 billion) government incentive scheme for electric cars, an RWE executive said.