RWE CEO rejects keeping nuclear power plants open

2 minute read

Energy company RWE npower's new gas-fired Pembroke Power Station, the largest of its type in Europe, is seen during its completion ceremony in Pembroke, Wales September 19, 2012. REUTERS/Rebecca Naden

Register now for FREE unlimited access to Reuters.com

DUESSELDORF, Aug 24 (Reuters) - German utility RWE (RWEG.DE) rejected on Tuesday the idea of letting nuclear power plants stay open for longer due to the fact they produce less carbon dioxide.

"We are not available for this," CEO Markus Krebber told journalists.

The German government is paying four nuclear operators - including RWE - nearly 2.6 billion euros ($3.05 billion) in compensation for forcing them to shut their nuclear plants early in response to the Fukushima disaster. read more

Register now for FREE unlimited access to Reuters.com

However, advocates of nuclear energy argue that it produces minimal carbon dioxide, meaning that countries like France and Britain, which operate many nuclear power plants, could achieve their climate protection goals more easily.

RWE, which used to rely heavily on nuclear power and coal, has transformed itself into one of the largest green power companies in Europe.

Krebber called for a new federal government to accelerate the pace of the shift to renewable energy by increasing targets, expanding the grid and cutting the approval procedures for wind energy plants.

Krebber, who took over as CEO at the end of April, will present his strategy in the fourth quarter, including a new dividend policy: "We are no longer a dividend stock. We are a growth stock," he said.

Other Top Energy stories

EXCLUSIVE Venezuela swapped PDVSA oil for food, then punished the dealmakers

Saudi Arabia's June oil exports rise 123% to over $16 bln

PetroChina reports $4.3 bln profit in Q1 on fuel demand recovery

Oil extends gains on brighter demand outlook, Mexico outages

($1 = 0.8519 euros)

Register now for FREE unlimited access to Reuters.com
Reporting by Tom Kaekenhoff Writing by Emma Thomasson Editing by Caroline Copley

Our Standards: The Thomson Reuters Trust Principles.