Nu­clear-fuel re­fund profit for en­ergy gi­ant RWE

Cape Times - - BUSINESS REPORT -

GER­MAN en­ergy gi­ant RWE posted a surge in profit for the first nine months of the year thanks to a nu­clear-fuel tax re­fund paid out in the sec­ond quar­ter and higher en­ergy prices.

Net in­come came in at €2.2 bil­lion (R37.07bn) in the first nine months of 2017 com­pared with €11 mil­lion in the same pe­riod last year, said RWE, which is based in the western Ger­man city of Essen.

“RWE has re­gained the power to shape it­self,” said RWE fi­nance chief Markus Kreb­ber, re­leas­ing the re­sults.

Kreb­ber also called on the Ger­man par­ties at­tempt­ing to forge a new three-way coali­tion un­der Chan­cel­lor An­gela Merkel to en­sure that the goals of cli­mate pro­tec­tion, com­pet­i­tive­ness and se­cu­rity of sup­ply form part of the new gov­ern­ment’s en­ergy pol­icy.

As a ma­jor in­dus­trial power, Ger­many needed a se­cure and af­ford­able en­ergy sup­ply, Kreb­ber said.

RWE shares opened 1.12 per­cent higher on the Frank­furt Stock Mar­ket fol­low­ing the re­lease of the re­sults.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.