Börse Express – Virtual Annual General Meeting at RWE

The energy company RWE holds its general meeting on Friday (10:00 a.m.), like other Dax
-Corporate corona-related as a virtual event on the Internet. RWE critics from the environmental movement, who otherwise accompany RWE general meetings with vocal protests, have largely been thwarted this time. They too can only speak up online.

The supplier is undergoing a major renovation and wants to become one of the world’s leading producers of green electricity. For this purpose, RWE has a large exchange deal with the old rival Eon
through which the Esseners have taken over numerous wind farms and solar power plants.

RWE’s lignite-fired power plants are to be shut down by 2038. The Federal Government presented the contract with the coal companies on Wednesday, which should regulate the details of the exit. Accordingly, RWE will receive 2.6 billion euros for the premature shutdown of the mines and power plants. As a first step, RWE plans to switch off a 300 megawatt block at the Niederaussem power plant at the end of the year.

The contract is also intended to ensure the preservation of the competitive Hambach Forest. RWE will not use the forest, which has become a symbol of resistance to climate-damaging coal electricity, for open-cast mining, it says. The lignite contract can only be signed and enter into force once the Bundestag has approved it and the law on coal phase-out has been passed./hff/DP/nas

 ISIN  DE000ENAG999  DE0007037129  DE000A2AADD2

AXC0046 2020-06-26/05:49

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