RWE.DE - RWE Aktiengesellschaft
| Previous close | 26.25 |
| Open | 26.45 |
| Bid | 26.30 x 410300 |
| Ask | 26.31 x 177800 |
| Day's range | 26.27 - 26.61 |
| 52-week range | 18.09 - 28.81 |
| Volume | 929,048 |
| Avg. volume | 3,249,253 |
| Market cap | 16B |
| Beta (5Y Monthly) | 1.25 |
| PE ratio (TTM) | 1.70 |
| EPS (TTM) | 15.44 |
| Earnings date | 11 Mar 2020 |
| Forward dividend & yield | 0.70 (2.68%) |
| Ex-dividend date | 2019-05-06 |
| 1y target est | N/A |
- Reuters - UK Focus
UPDATE 4-Thousands of UK jobs at risk as E.ON breaks up Npower
FRANKFURT/DUESSELDORF, Germany, Nov 29 (Reuters) - German energy group E.ON plans a 500-million-pound ($642 million) break-up of the struggling British Npower division it inherited from Innogy, which unions said could put up to 4,500 jobs at risk. E.ON's plan includes managing Npower's residential and small and medium-size business customers on the same platform as its own, while putting Npower's industrial and commercial customers into a separate business. The rest of Npower will be closed.
- Reuters - UK Focus
UPDATE 2-Power firm Innogy continues to shed customers in Britain
German energy group Innogy on Thursday said it was continuing to lose clients in Britain, where a price cap has increased pressure on the 'Big Six' energy providers. Npower, Innogy's British retail unit, lost 261,000 customers during the third quarter, bringing total customer losses to 447,000 so far this year.
- Bloomberg
Germany’s Coal Exit Talks Founder on Compensation Dispute
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Discussions are faltering about how to shut down Germany’s lignite coal industry as company executives and government ministers struggle to agree over the politically charged issue of how to compensate industry for plant shutdowns.Ten months after Germany set out a road map to exit coal by 2038, officials and the main utilities remain at loggerheads over setting a price for closing down operations, according to at least five people with direct knowledge of the deliberations. The government already missed a self-imposed target to have legislation ready in October and is unlikely to settle the matter before the end of this year, the people said.A timely agreement on winding down coal plants is a crucial link in the government’s moves to speed up reducing greenhouse gas emissions. It’s also a key variable in the outlook for utilities led by RWE AG, Uniper SE and LEAG Holding A.S.“It’s no surprise that the talks are stuck in the trenches,” said Guido Hoymann, Bankhaus Metzler & Co’s head of equity research, on the phone from Frankfurt. The utilities and the government are fighting their corners with an audience of shareholders, workers and the taxpayer all expecting a satisfying outcome to the talks, he said.RWE fell as much as 2.1% on the news in Frankfurt. Uniper pared gains, but its shares have since recovered.None of the companies or officials involved in the talks were willing to speak publicly because of the sensitivity of the discussions. RWE and LEAG declined on Tuesday to comment on talks that are private and still inconclusive.Germany is shutting down both its nuclear and coal power plants, which together generate about half the nation’s electricity.The government wants to cut lignite and hard coal capacity by some 5 gigawatts each by 2023. Hard coal plants are required to enter auctions to win compensation, while lignite plants and the mines that feed them are, according to draft legislation, due to be closed in separate agreements with operators.RWE CFOThe discussions are snagging on the price that the government will pay to compensate for shutting down coal operations. Discussing the progress of lignite talks on a press call last week, RWE Chief Financial Officer Markus Krebber said the firm’s workers had been disconcerted by the slow progress, adding that moral in the coal region around the Rhine River was “anything but good.”Most of Germany’s lignite capacity is concentrated in just two hands: RWE has 6.5 gigawatts in western Germany, and Lausitz Energie Kraftwerke AG’s owns operations in the eastern part of the country with some 8 gigawatts.That capacity is bundled into seven coal plants that are Germany’s dirtiest. They push out about 47% of all of the country’s emissions from energy facilities in 2018, according to the Federal Environment Ministry. The figures underscore the pressure on the government to reach an agreement quickly and the utilities to get an acceptable return for their assets.Highlighting Germany’s increasingly strained government budget, Chancellor Angela Merkel’s administration has earmarked just 1 billion euros ($1.1 billion) to pay for closing capacity to 2023, according to a government official who asked not to be identified because the figures aren’t yet public.Read More: Germany Likely to Offer Utilities Less Cash to Close Coal PlantsTo soften the blow on workers affected by closures, the government is putting up 40 billion euros in labor training programs, infrastructure and research and development investments. Much of that money will feed into four regions where the industry is concentrated. In the government’s thinking, that will aid figures in its compensation plans. The utilities are looking for a direct payment for the assets they will have to retire early.For anti-trust reasons, the talks are being conducted between the Economy and Energy Ministry and the utilities on a one-on-one basis. A faltering German economy has prompted downward revisions to the government budget forecasts, meaning the officials negotiating are driving a harder bargain, the people said.(Updates with analyst comment in 4th paragraph)To contact the reporters on this story: Brian Parkin in Berlin at bparkin@bloomberg.net;William Wilkes in Frankfurt at wwilkes1@bloomberg.netTo contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net, Lars Paulsson, Helen RobertsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Simply Wall St.
Health Check: How Prudently Does RWE (ETR:RWE) Use Debt?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
- Reuters - UK Focus
LIVE MARKETS-Armageddon: When market gurus get it wrong
* European shares drop on economic growth concerns * STOXX 600 down 0.1%; DAX -0.2%; FTSE -0.4% * German economy narrowly escapes recession Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: rm://julien.ponthus.thomsonreuters.com@reuters.net ARMAGEDDON: WHEN MARKET GURUS GET IT WRONG (1524 GMT) In 2010, just two years after the brutal financial crisis, a host of market experts and money managers started coming out with predictions on the next blow-up, some forecasting wild scenarios, such as a 90% stock market drop.
- Reuters - UK Focus
LIVE MARKETS-German GDP: would a bad number been better?
* German economy narrowly escapes recession Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. GERMAN GDP: WOULD A BAD NUMBER BEEN BETTER? Europe's No. 1 economy is stagnating and while its feeble 0.1% growth rate in Q3 was better than expected, avoiding Germany a technical recession, markets aren't taking any joy from that.
- Reuters
Fresh off E.ON-asset swap, RWE renewables outlook disappoints
RWE AG , Germany's largest power producer, gave profit forecasts for its renewables business that fell short of some analysts' expectations, casting doubt over whether the booming sector will prove as lucrative as hoped. Fresh off a deal to acquire the renewable units from peer E.ON and former subsidiary Innogy , RWE said pro-forma adjusted core earnings from green energy operations would be 1.3 billion-1.5 billion euros ($1.4 billion-$1.7 billion) this year. "The guidance is likely to be seen as 'light'," Goldman Sachs said in a note, adding markets might be disappointed given the businesses had delivered about 900 million euros in first-half core profit before stripping out some activities.
- Reuters - UK Focus
UPDATE 2-Fresh off E.ON-asset swap, RWE renewables outlook disappoints
RWE AG, Germany's largest power producer, gave profit forecasts for its renewables business that fell short of some analysts' expectations, casting doubt over whether the booming sector will prove as lucrative as hoped. Fresh off a deal to acquire the renewable units from peer E.ON and former subsidiary Innogy, RWE said pro-forma adjusted core earnings from green energy operations would be 1.3 billion-1.5 billion euros ($1.4 billion-$1.7 billion) this year.
- Reuters - UK Focus
LIVE MARKETS-Morning call: The jury is out for breakfast
- Reuters - UK Focus
RWE raises 2019 outlook again on UK capacity market payments
- Bloomberg
From Wyoming to Australia, Coal’s Heartlands Are Retreating
(Bloomberg Opinion) -- From the Rocky Mountains to the Rhineland and Australia’s Great Dividing Range, the great tide of the coal industry is receding.The entire Powder River Basin, the region spanning the states of Montana and Wyoming that provides about half of America’s thermal coal, is “distressed,” Moody’s Investors Service wrote in a report last week. All companies producing coal there are now focusing on mining coking coal elsewhere in the U.S., the ratings company wrote. Output “will likely fall significantly in 2020,” it said.Energy Information Administration forecasts quoted by Moody’s suggest that production from the Powder River-dominated Western Region will drop to 339 million short tons in 2020 from 418 million short tons in 2018, a 19% reduction and a 42% decline from 592 million short tons in 2010. Most of that decline happened while coal could still produce electricity more cheaply than renewable alternatives, a situation that’s now reversed. A comparable drop over the coming decade would shutter almost every mine in the basin. In Australia, the world’s second-largest coal exporter after Indonesia, similar trends are afoot. The pipeline of new renewables projects, led by solar farms, now stands at 133 gigawatts, according to research group Rystad Energy. Coupled with a flood of energy-storage projects coming online by 2025, that means that coal-fired generation could be extinct by 2040, the group said Tuesday. Changes under way in Europe are pointing in the same direction. Germany, long considered one of the rich world’s last redoubts of coal-fired power, is seeing generation plummet as the rising price of carbon credits and falling cost of gas squeeze out profits for generators. Germany’s current-year and next-year dark spreads, which represent the theoretical profit for coal-fired power based on prevailing fuel, electricity and carbon prices, have been in negative territory for much of the year. Generators RWE AG and Uniper SE are still able to eke out margins by utilizing carbon credits bought in former years when prices were in the region of 5 euros ($5.57) compared to their current 25.93 euros. Eventually, that stockpile will run out. Unless gas gets more expensive or carbon gets cheaper, the German government’s target for ending coal-fired generation by 2038 is likely to come 15 years or so early.Remarkably, this trend is even sweeping up brown coal, or lignite, a cheap-and-dirty variety that’s been seen as more resilient than Germany’s costlier black coal. Lignite generation in the six months through June fell 28% from a year earlier at RWE, a drop of 9.9 terawatt-hours.Even regions that were once viewed as the last hopes for coal demand are looking dicier. The pipeline of thermal power projects beginning construction in Southeast Asia has fallen to zero this year everywhere except in Indonesia. Even there, the capacity starting up is just 1,500 megawatts, equivalent to just five or six power plants, according to a report published Wednesday by Global Energy Monitor, a research group in favor of fossil fuel phase-out.The world has gone through a remarkable energy transition over the past decade, but much of the shift still lies, iceberg-like, beneath the surface. Renewables are cheaper than coal almost everywhere, a prospect that was considered so improbable at the time of the 2006 Stern Review on climate change that it wasn’t treated as a serious possibility beyond a vague hope that research and development might one day flip the script. The great hope for coal now is not that it will be able to survive in the free market, but that government support will come in to bail out an industry that can’t survive on its own, in the process locking in pollution-related disease and climate emissions for future generations.It’s not impossible that this bet will work in a few regions — as exemplified by the speech given last week to China’s National Energy Commission by Li Keqiang, in which the premier sang the praises of domestic coal deposits and stepped back from previous promises to accelerate deployment of renewables.Any industry that harms its consumers, pollutes the planet and depends for its survival on political support is living on borrowed time, though. The declines to coal-fired power on multiple continents are the death throes of a technology that’s rapidly heading towards obsolescence. Humanity will still struggle to reduce our emissions fast enough to avoid devastating climate change — but don’t be surprised if this industry falls even faster than people have dared to hope.(Corrects the eighth paragraph and “End of the Road” chart in column first published Oct. 24 to show that the figure refers only to projects that are starting construction.)To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Reuters - UK Focus
UK employers slam $249 bln cost of Labour renationalisation plans
A British employers' group criticised on Monday what it said would be the "beyond eye-watering" cost of the opposition Labour Party's plans to return utilities, train companies and the Royal Mail to public ownership. The Labour Party has moved sharply to the left under its leader Jeremy Corbyn, and although it lags the ruling Conservatives in opinion polls, Brexit turmoil and the likelihood of an early election could see it take power. The Confederation of British Industry said Labour's plans would have an upfront cost of 196 billion pounds ($249 billion), assuming Labour paid the full market value of companies involved - similar to a 176 billion-pound estimate made last year by the pro-privatisation Centre for Policy Studies think tank.
- Reuters - UK Focus
UPDATE 1-More work needed to understand Britain's August power failure
Britain's energy emergencies executive committee said on Friday more work was needed to understand why certain power assets failed during a blackout caused by a lightning strike in August. National Grid said last month that the lightning strike resulted in Orsted's Hornsea offshore wind farm and RWE Generation's Little Barford gas-fired power station going offline. As Britain's generation mix now includes a lot more renewable energy generation and interconnection with Europe, the grid system needs to be more flexible.
- Simply Wall St.
The RWE (ETR:RWE) Share Price Has Gained 87% And Shareholders Are Hoping For More
One simple way to benefit from the stock market is to buy an index fund. But many of us dare to dream of bigger...
- Reuters - UK Focus
LIVE MARKETS-Off lows: "Markets are way more interested in a trade deal"
* European stocks fall as Trump impeachment probe knocks confidence * But Trump says trade deal with China could happen sooner * STOXX 600 ends down 0.6%, off lows after hitting Sept. 10 low * France's EDF leads fallers as co flags rising Hinkley Point costs * Wall Street hits session high on Trump's China trade comments Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://josephine.mason.thomsonreuters.com@reuters.net OFF LOWS: "MARKET ARE WAY MORE INTERESTED IN A TRADE DEAL" (0413 GMT) Worries over the possible impact of impeachment proceedings against Trump on the on trade talks with China and the 2020 presidential election in the U.S. drove European shares down sharply with the STOXX 600 dragged down to two-week lows, falling 1.45% at one point.
- Reuters - UK Focus
LIVE MARKETS-Cheers? Not so much. Europe braces for fresh U.S trade front
* European stocks under pressure as Trump impeachment probe knocks confidence * Euro-zone index hits Sept. 5 low, down 1.3% * STOXXE and major bourses set for worst day in 6 weeks * EDF falls as co flags rising Hinkley Point costs * Wall Street falls as Trump transcript with Ukraine president released Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. EUROPE BRACES FOR FRESH U.S. TRADE FRONT (1458 GMT) The market is obsessed today about the U.S. impeachment probe of U.S. President Trump and whether it could derail the U.S.-China trade talks.
- Reuters - UK Focus
LIVE MARKETS-What next in the travel biz? "Multiple headwinds"
* European stocks under pressure as Trump impeachment probe knocks confidence * Euro-zone index hits Sept. 5 low, down 1.3% * STOXXE and major bourses set for worst day in 6 weeks * EDF falls as co flags rising Hinkley Point costs * Wall Street futures point to weak U.S. open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. "MULTIPLE HEADWINDS" (1425 GMT) Travel & leisure stocks are top fallers today as it looks like the possible market share gains stemming from the demise of UK travel group Thomas Cook are already baked in the prices, while longer-term challenges for the industry remain. Jefferies says the scale of Thomas Cook's failure could potentially lead independent hoteliers to review partners and payment terms.
- Reuters - UK Focus
LIVE MARKETS-U.S. President impeachments: What does history tell us?
* European stocks under pressure as Trump impeachment probe knocks confidence * Euro-zone index hits Sept. 5 low, down 1.3% * STOXXE and major bourses set for worst day in 6 weeks * EDF falls as co flags rising Hinkley Point costs * Wall Street futures point to weak U.S. open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://josephine.mason.thomsonreuters.com@reuters.net U.S. PRESIDENT IMPEACHMENTS: WHAT DOES HISTORY TELL US?
- Reuters - UK Focus
LIVE MARKETS-Utilities: Golden Age of growth
* EDF falls as co flags rising Hinkley Point costs Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Green government policies, low interest rates, rising importance of ESG (environmental, social and governance) and lower construction costs are seen as factors making the capital-intensive utility sector attractive, according to Bank of America Merrill Lynch (BAML). Apart from policies, decarbonisation and low interest rates, the ESG theme is also playing out well for the sector with 44% of asset owners expected to increase their allocation to ESG-compliant stocks.
- Reuters - UK Focus
LIVE MARKETS-Closing snapshot: dismal PMI cast pall over Europe
* European shares fall after disappointing PMIs * STOXX 600 down 0.8% for biggest one-day fall since Aug. 14 * DAX hits lowest in 2 weeks * Euro zone business growth stalls in September * Investors wait UK Supreme Court ruling on Brexit on Tuesday * * Travel sector stocks gain after Thomas Cook collapses Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net CLOSING SNAPSHOT: DISMAL PMI CAST PALL OVER EUROPE (1614 GMT) Gloom about the state of the euro-zone economy following dismal manufacturing data for Germany cast a pall over European stocks today, prompting a rush for the exits and sending the pan European STOXX 600 and euro-zone index down 0.8% and 1% for their worst day in weeks.
- Reuters - UK Focus
LIVE MARKETS-Thomas Cook: gamechanger for troubled travel sector?
* European shares fall after disappointing PMIs * STOXX 600 down 0.9%, DAX hits lowest in 2 weeks * Euro zone business growth stalls in September * Investors wait for clarity on Sino-US talks * Travel sector stocks gain after Thomas Cook collapses Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net THOMAS COOK: GAMECHANGER FOR TROUBLED TRAVEL SECTOR?
- Reuters - UK Focus
LIVE MARKETS-German climate plan: is that fiscal stimulus?
* European shares fall after disappointing PMIs * STOXX 600 down 0.8%, DAX hits lowest in 2 weeks * Euro zone business growth stalls in September * Investors wait for clarity on Sino-US talks * Travel sector stocks gain after Thomas Cook collapses Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net GERMAN CLIMATE PLAN: IS THAT FISCAL STIMULUS? "The macro impact from the climate spending package seems limited - this is not a proper fiscal stimulus," say UBS economists led by Felix Huefner.
