24 November 2005
RWE Power will build two new topping gas turbines at the lignite fired power station Mátra near Visonta (Hungary). In cooperation with the consortium partner Energie Baden-Württemberg (EnBW) and the Hungarian minority partner MVM the company will invest about 65 million Euro. The official kick-off for the project took place today. The new turbines should operate from the end of 2006, latest from the beginning of 2007. They will increase the performance of the Mátra power station by roughly 10 percent.
16 November 2005
The positive trend in RWE AG’s energy and water business continued in the first nine months of 2005. Both the operating result and net income rose again year-on-year. Earnings per share increased by approximately 6%. At the same time, the Company was able to reduce its net financial debt to below €11 billion. RWE maintains its earnings forecast for the current fiscal year.
08 November 2005
The integrated energy company RWE npower today announced the purchase of Great Yarmouth Power Ltd (GYPL) from BP UK Power Holdings Ltd, a subsidiary of BP plc. GYPL owns the 420 MegaWatt (MW) Combined Cycle Gas Turbine power station at Great Yarmouth in Norfolk.
04 November 2005
RWE intends to sell the water business of RWE Thames Water in the UK as well as that of American Water in North America. RWE has come to this decision because the Company believes it can make the best use of its core strengths by concentrating on the converging European electricity and gas markets.
26 September 2005
Following the sale of 70% of the consolidated business volume of RWE Umwelt AG on 25 February 2005, RWE has now concluded the disposal of the remaining waste management operations in the regions West, Westphalia, Hesse, East and Mecklenburg-Western Pomerania which had been retained by RWE to comply with antitrust regulations. RWE had offered the five regions for sale in a broad-based competitive bidding process regarding business concepts and takeover conditions. The majority holdings of the five regions generate total annual revenues of about € 530 million. The revenue of the associated minority holdings is of a similar order.
12 September 2005
RWE is the “Industry Leader” in the new market category “Multi Utilities” in the 2006 Dow Jones Sustainability Index (DJSI). Fifteen companies in this category were evaluated worldwide, of which only two met the DJSI criteria. RWE is therefore among the world’s leading enterprises when it comes to sustainable corporate management and business activity. RWE CEO Harry Roels commented: “We’re very proud of our leading position. It demonstrates that RWE’s sustainability strategy is firmly established, and RWE has ranked among the leaders in its market sector for years.”
08 September 2005
Bill Alexander, CEO of RWE Thames Water plc, will retire at the end of November 2005. The RWE AG Executive Board has named Jeremy Pelczer, the current CEO of American Water, to succeed Bill Alexander at that time. Jeremy Pelczer will remain the CEO of American Water, the RWE Thames Water subsidiary that is the largest water services provider in North America, until a successor for that position has been appointed.
11 August 2005
RWE posted very solid results for the first half of 2005. Both the operating result and net income rose. Earnings per share increased by 5.4%. Net debt remained at a low level. RWE maintains its forecast for the current fiscal year.
12 May 2005
RWE entered the new fiscal year 2005 as a fully focused energy and water company. Germany's largest power producer further improved its performance in the first quarter: The organic operating result - i.e. the operating result net of consolidation and currency effects - rose, as did net income. Earnings per share increased by 5.5% to Euro 1.73. RWE maintains its forecast for the current fiscal year.
10 May 2005
Combing growth and profitability with stability for our investors is the strategic objective of RWE. The 2005 Long Term Incentive Plan (LTIP) is an attractive element of the total executive reward package provided at RWE. It rewards our executives for their contribution to RWE´s business success and creates consistent and long-term incentives group-wide. Furthermore, all principles of the German Corporate Governance Code are met. It is a discretionary plan and management decides annually on plan participation.