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RWE CFO: no progress on idea of German lignite foundation

Reuters
·1-min read

FRANKFURT, Nov 14 (Reuters) - There is no progress around the idea of lignite foundation that could take responsibility of Germany's remaining lignite-power plants, including those of RWE, the utility's finance chief told journalists on Tuesday.

Michael Mueller, when asked about the matter in a call discussing nine-month results, said "there are no further developments at the moment" on the matter, which was initially tabled by the ruling coalition.

"In Germany, we also have other fundamental issues that are more important at the moment," Mueller said. "Above all, we need to accelerate the expansion of renewables, and the issue of power plant strategy in particular is an important topic that now needs to be addressed politically." (Reporting by Christoph Steitz, editing by Kirsti Knolle)