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RWNFF.PK on OTC Markets Group - US Other OTC and Grey Market

24 Oct 2016
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Latest Key Developments (Source: Significant Developments)

RWE prices Innogy IPO at 36 euros a share
Thursday, 6 Oct 2016 03:32pm EDT 

RWE : Innogy IPO offer price determined at 36 eur/shr Further company coverage: [RWEG.DE] ((Frankfurt.newsroom@thomsonreuters.com; +49 7565 1272;)).  Full Article

RWE wants to keep investment-grade rating, but not at any cost
Thursday, 11 Aug 2016 06:42am EDT 

Rwe Ag : Cfo says operating cash flow will help achieve goal of lower net debt by year-end, proceeds from innogy ipo not taken into account . Cfo says there is a risk that we have to apply different discount rates on nuclear storage provisions once these are taken out balance sheet . Cfo says have ambition to keep investment-grade credit rating, but not at any cost Further company coverage: [RWEG.DE] (Frankfurt newsroom) ((+49 69 7565 1270; Reuters Messaging: frankfurt.newsroom@thomsonreuters.net)).  Full Article

RWE CEO says don't need to sell parts of Innogy to finance investments
Thursday, 30 Jun 2016 05:33am EDT 

RWE AG : Ceo says don't need to sell parts of Innogy to finance investments Further company coverage: [RWEG.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1272;)).  Full Article

UK's competition watchdog announces energy market reforms
Friday, 24 Jun 2016 02:00am EDT 

Competition and Markets Authority : Publishes final energy market reforms . Over 30 measures will be brought in to drive down costs . Concluded its energy market investigation setting out a wide range of reforms to modernise the market for the benefit of customers . Investigation found that 70 pct of domestic customers of 6 largest energy firms still on an expensive ‘default’ standard variable tariff . Has found customers have been paying 1.4 billion stg a year more than they would in a fully competitive market . Suppliers will be ordered to give ofgem details of all customers who have been on their default tariff for more than three years . Details of all customers on default tariff for more than 3 yrs will be put on a secure database .Ofgem will also be given much greater influence over the detailed codes that govern the working of the market.  Full Article

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

UPDATE 3-German power firms to shift funds in landmark nuclear deal

* Shares in E.ON, RWE, EnBW rise on clarity (Recasts, adds funding breakup, details)