Nuclear-fuel refund profit for energy giant RWE
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.