|Traded as||FWB: RWE|
|Peter Terium (President and CEO), Manfred Schneider (Chairman of the supervisory board)|
|Products||Electricity generation and distribution, renewable energy, natural gas exploration, production, transportation and distribution|
|Revenue||€50.72 billion (2010)|
|€7.681 billion (2010)|
|Profit||€3.308 billion (2010)|
|Total assets||$108.9 billion (2015)|
|Total equity||€17.42 billion (end 2010)|
Number of employees
|70,860 (FTE, end 2010)|
RWE AG, until 1990: Rheinisch-Westfälisches Elektrizitätswerk AG (Rhenish-Westphalian Power Plant), is a German electric utilities company based in Essen, North Rhine-Westphalia. Through its various subsidiaries, the energy company supplies electricity and gas to more than 20 million electricity customers and 10 million gas customers, principally in Europe. RWE is the second largest electricity producer in Germany, and has increased renewable energy production in recent years.
RWE previously owned American Water, the United States' largest investor-owned water utility, but this was divested in 2008. It also owned RWE Dea (now DEA AG), which produced some of the oil and gas RWE sold (annual production is around 2 million m3 of crude oil (about 365,000 BOE) and 3 billion m3 of natural gas (about 18 million BOE, 49,300 BOE) a day.
RWE confirmed in December 2015 that it would separate its renewable energy generation, power grid and retail operations into a separate company, Innogy SE, during 2016, and sell a 10% holding in the business through an initial public offering. The restructuring was caused by an effort to reduce the group's exposure to nuclear decommissioning costs, required due to a German government policy of closing all nuclear power stations by 2022.
In 1900 the local municipalities together owned the majority of the company.
In 2003 Dr Dietmar Kuhnt was succeeded by Harry Roels as CEO of the company and then in 2007 Dr. Juergen Grossmann took over.
On 2 April 2011, about 3,000 people protested outside RWE's headquarters in Essen, as part of a larger protest against nuclear power.
In July 2012, Peter Terium took over as CEO.
On 14 August 2012 RWE AG announced that the company would cut 2,400 more jobs to reduce costs. Previously the company had announced to eliminate 5,000 jobs and 3,000 jobs through divestments as anticipated of closing all nuclear reactors by 2022.
In March 2015, RWE closed the sale of its oil and gas production unit, RWE Dea, to a group led by Russian billionaire Mikhail Fridman despite opposition from UK regulators. The $5.6 billion deal, announced in 2014, required approval from 14 countries where RWE Dea operates in Europe, the Middle East and Africa.
RWE subsidiaries include:
- RWE Power AG
- RWE Energy
- RWE Deutschland AG
- RWE Supply & Trading
- RWE IT
- RWE International SE
|Sales||46 633||43 875||42 137||41 189||44 256|
|EBITDA||7 241||8 476||8 400||8 324||7 861|
|Net result||1 050||953||2 137||2 231||3 847|
|Net debt||15 494||17 838||12 385||11 438||6 864|
|Staff||131 765||127 028||97 777||85 928||68 534|
Fuel mix disclosure
RWE produced in 2007 electricity from the following sources: 32.9% hard coal, 35.2% lignite, 1.1% pumped storage, 2.4% renewables, 13.6% gas and 14.9% Nuclear power. In total, the company produced 324.3 TWh of electricity in 2007, which makes it the 2nd largest electricity producer in Europe, after EdF. Electricity production at the German branch of RWE had in 2006 the following environmental implications: 700 µg/kWh radioactive waste and 752 g/kWh CO2 emissions. In 2010 the company was responsible for 164.0 MTon of CO2, In 2007 the company ranked between the 28th and the 29th place of emitters by country.
|Year||Production (TWh)||Emission (Gt CO2)||kg CO2/MWh|
Carmaker Daimler AG and utility RWE AG are going to begin a joint electric car and charging station test project in the German capital, Berlin, called "e-Mobility Berlin". Daimler plans to deploy a fleet of over 100 second-generation Smart ED and Mercedes A-Class E-Cell cars powered by lithium ion batteries.
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- Powerhouse of the Uranium Enrichment Industry Seeks an Exit 27 May 2013 NYT
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