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Nuke shutdown could force energy asset sale

The Local · 24 Dec 2011, 09:51

Published: 24 Dec 2011 09:51 GMT+01:00

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The assets are shares in two undeveloped oil and gas fields belonging to its subsidiary Dea, sources close to the matter told the Dow Jones newswire.

A RWE spokeswoman, asked by AFP, declined to comment but highlighted the Dea unit was on the group's list of potential sell-offs.

The energy supplier is in need of fresh cash because earnings are being hit by a decision by Germany to phase out nuclear power and a generally difficult market environment.

It intends to divest €11 billion ($14 billion) worth of assets before the end of 2013, after already having completed a planned capital increase of some €2.1 billion.

Story continues below…


The Local (news@thelocal.de)

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Your comments about this article

11:20 December 24, 2011 by rwk
This is just another example of the trouble being caused be the irresponsible energy policy on which Germany has embarked. Nuclear energy is the safest, cheapest, best power source known to man. That being said, nuclear power plants require good design and responsible operation. Also, newer designs, and the revival of existing concepts which have not been put into commercial practice, are needed to show how good nuclear power can be. I refer to the design which use liquid fuel, as opposed to solid fuel, and those which use plutonium or thorium, instead of enriched uranium.
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