Type Aktiengesellschaft Industry Electric utility Headquarters Essen, Germany | Traded as FWB: RWE Revenue €50.72 billion (2010) Founded 1898 | |
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Key people Peter Terium (President and CEO), Manfred Schneider (Chairman of the supervisory board) Products Electricity generation and distribution, renewable energy, natural gas exploration, production, transportation and distribution Stock price RWE (ETR) € 14.53 -0.02 (-0.10%)22 Mar, 3:15 PM GMT+1 - Disclaimer CEO Peter Terium (1 Jul 2012–) Subsidiaries Innogy, Npower, RWE Supply & Trading CZ, Emasz | ||
Interview with peter terium chief executive officer of rwe ag
RWE AG, until 1990: Rheinisch-Westfälisches Elektrizitätswerk AG (Rhenish-Westphalian Power Plant), 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 electricity producer in Germany, and has increased renewable energy production in recent years.
Contents
- Interview with peter terium chief executive officer of rwe ag
- History
- Operations
- Fuel mix disclosure
- RWE in the UK
- Carbon intensity of electricity production
- References
RWE previously owned American Water, the United States' largest investor-owned water utility, but this was divested in 2008. It also owned RWE Dea (now DEA AG), which produced some of the oil and gas RWE sold (annual production is around 2 million m3 of crude oil (about 365,000 BOE) and 3 billion m3 of natural gas (about 18 million BOE, 49,300 BOE) a day.
RWE confirmed in December 2015 that it would separate its renewable energy generation, power grid and retail operations into a separate company, Innogy SE, during 2016, and sell a 10% holding in the business through an initial public offering. The restructuring was caused by an effort to reduce the group's exposure to nuclear decommissioning costs, required due to a German government policy of closing all nuclear power stations by 2022.
History
The company was founded in Essen in 1898 as Rheinisch-Westfälisches Elektrizitätswerk Aktiengesellschaft (RWE). Its first power station started operating in Essen in 1900.
In 1900 the local municipalities together owned the majority of the company.
In 2001, RWE took over the British company Thames Water.
RWE agreed to acquire the British electricity and gas utility company Innogy for £3 billion (US$4.3 billion) in March 2002.
In 2003 Dr Dietmar Kuhnt was succeeded by Harry Roels as CEO of the company and then in 2007 Dr. Juergen Grossmann took over.
In 2006, RWE sold Thames Water to Kemble Water Limited, a consortium led by Macquarie Group.
On 2 April 2011, about 3,000 people protested outside RWE's headquarters in Essen, as part of a larger protest against nuclear power.
In July 2012, Peter Terium took over as CEO.
On 14 August 2012 RWE AG announced that the company would cut 2,400 more jobs to reduce costs. Previously the company had announced to eliminate 5,000 jobs and 3,000 jobs through divestments as anticipated of closing all nuclear reactors by 2022.
In August 2013 RWE completed the disposal of NET4GAS, the Czech gas transmission network operator, for €1.6 billion to a consortium consisting of Allianz and Borealis.
In March 2015, RWE closed the sale of its oil and gas production unit, RWE Dea, to a group led by Russian billionaire Mikhail Fridman despite opposition from UK regulators. The $5.6 billion deal, announced in 2014, required approval from 14 countries where RWE Dea operates in Europe, the Middle East and Africa.
Operations
RWE subsidiaries include:
RWE jointly owns one third of the Urenco Group with E.ON. The remaining stakes are held by the British and Dutch governments, with one-third each.
Fuel mix disclosure
RWE produced in 2007 electricity from the following sources: 32.9% hard coal, 35.2% lignite, 1.1% pumped storage, 2.4% renewables, 13.6% gas and 14.9% Nuclear power. In total, the company produced 324.3 TWh of electricity in 2007, which makes it the 2nd largest electricity producer in Europe, after EdF. Electricity production at the German branch of RWE had in 2006 the following environmental implications: 700 µg/kWh radioactive waste and 752 g/kWh CO2 emissions. In 2010 the company was responsible for 164.0 MTon of CO2, In 2007 the company ranked between the 28th and the 29th place of emitters by country.
RWE in the UK
In the UK RWE fully owns RWE Generation UK plc., which operates a number of coal, natural gas, oil-fired and renewable energy power stations across the UK, with coal and gas accounting for 81% of their output as of 2005.
The company owns the gas-fired power stations Staythorpe Power Station in Nottinghamshire, Pembroke Power Station in West Wales, Little Barford Power Station in Bedfordshire, Great Yarmouth Power Station in Norfolk, Fawley Power Station in Hampshire, Tilbury Power Station in Essex and Littlebrook Power Station in Kent, and the coal-fired power station Aberthaw Power Station in South Wales. It has closed its Didcot Power Station in Oxfordshire.
Carbon intensity of electricity production
Details are as follows: