![]() At the end of March 2013, we sold the Czech gas transmission system operator NET4GAS for €1.6 billion. And divestments also form part of our package of measures. The Conventional Power Generation Division will contribute about half of this figure. Second, we are fairly confident that we can accomplish our savings goal for 2017-a total of at least €1.5 billion-a year earlier than originally planned. By now we completed savings of €1 billion during 2013, which was much faster than we expected. ![]() In view of our difficult economic situation, we are continuing to do all we can to bolster our financial strength. This is why we decided to remove about 4,400 megawatts of power station capacity from the market, at least temporarily. It goes without saying that this cannot be left to continue. In specific terms, 20% to 30% of our power stations currently cannot even cover their operating costs. ![]() The consequence for us has been substantial financial burdens. Third, in 2013 the EU member countries abolished the free allocation of CO2 emission allowances for electricity generation. At the current market price, it is virtually impossible to operate conventional power stations economically. Second, the huge expansion of renewables has pushed wholesale prices for electricity down even further. What is causing that crisis? And how is RWE responding to it? Birr: First, the conventional power stations are not being used to their full capacity, because they are being driven out by photovoltaics, especially during peak load hours. Bernhard Günther, the CFO of RWE, has said there is a “crisis in conventional power generation” in Germany. This trend will continue in the next few years, and it is irreversible. We are making less and less money with our conventional power stations, especially those based on gas and coal. More than anything, they are a reflection of the greatly worsened earnings prospects in the continental European power station sector. These are essentially due to the crisis in the conventional power generation segment. One reason is impairment losses totaling €4.8 billion. The fact you mentioned, that for the first time since the Federal Republic of Germany was established, in other words, in more than 60 years, we have posted a loss again, is enough to show how serious the situation is: Our net income for fiscal 2013 was minus €2.8 billion. What happened? Birr: We are in an extremely difficult phase right now. Q: RWE posted its first loss last year since it was founded. Faced with mounting losses in its conventional generation line, RWE is trying a rapid switch to become a 21st-century “integrated energy manager.” Head of Group Strategy & Corporate Development Thomas Birr spoke about the company’s current challenges and strategy changes. Its German power subsidiary has been the utility poster child for the effects of the Energiewende, the transformation of the Germany power system away from nuclear and coal toward renewable energy and energy efficiency. RWE’s Thomas Birr on Corporate Strategy in a Changing German Electricity Ecosystem | Bentham Paulos RWE AG is Europe’s third-largest electricity and fifth-largest gas marketer, with holdings in upstream oil and gas production, power grids, and energy trading. De subsidiëring van biomassacentrales drijft ook de grondstoffenprijzen van de houtverwerkende industrie op. Papierbedrijven, spaanplaatproducenten en meubelbedrijven vinden dat biomassacentrales houtafval opstoken dat zij nog als grondstof kunnen gebruiken. De Vlaamse regering komt met de beslissing tegemoet aan de verzuchtingen van de houtverwerkende industrie. Met het schrappen van de steun zijn nieuwe projecten onmogelijk omdat ze niet meer rendabel zijn. ‘Met de eerder geplande biomassacentrales en de verwachte aangroei van zonnepanelen en windmolens, zouden de groene doelstellingen van 2020 gehaald worden’, klinkt het. In regeringskringen valt te horen dat dergelijke installaties niet meer nodig zijn om de groenestroomdoelstellingen te halen. De Vlaamse regering schafte net voor de verkiezingen de steun voor nieuwe projecten af. Grote biomassacentrales zijn een manier om snel grote hoeveelheden groene stroom te produceren, maar slorpen heel wat steun op. Sinds kort kunnen nieuwe installaties groter dan 20 megawatt geen groenestroomcertificaten meer krijgen. Zonder subsidie geeen groene stroom.? = De Vlaamse regering zet een rem op grote biomassacentrales, installaties die stroom opwekken door de verbranding van houtresten en ander afval.
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