Our friends in Germany.....Urgewald

Dear All,

Congratulations!!!!! 

Below is the translation of an article from today's Handelsblatt (Germany's most important economic daily). Please let me know if you are still planning to come to the RWE and E.ON annual meetings.

Anyway, do let me know what your plans are.

All the best!
Heffa


No new nuclear plants – RWE and Eon drop nuclear plans in Great Britain

 

E.ON and RWE are giving up their plans to build new nuclear power plants in Great Britain. Statements from company circles to the "Handelsblatt" confirmed this information.  The energy companies had planned investments running into the billions.

 

Düsseldorf/London: The energy companies RWE and E.ON have closed the file on their billion dollar plans for building new nuclear plants in Great Britain. On Thursday, RWE  announced its intention to exit the Horizon Joint Venture. „Parallel to this, E.ON also announced its exit“, according to reports. Amongst other things, the high costs were said to be a reason for the abandonment. „Now it´s our aim to find a buyer for Horizon Nuclear Power.“ The utilities' original idea was build several reactors in Great Britain, for which they had planned investments worth tens of billions. Both companies refused to provide an official statement on their change of plans.

 

Following the notification, the shares of E.ON und RWE continued to make losses. For the two biggest German energy providers Great Britain is one of the most important foreign markets. E.ON and RWE had founded the Horizon Joint Venture a few years ago in order to build new nuclear plants with a total output of 6000 MW by 2025. Over the past few years, E.ON and RWE had claimed that "this programme will cost around 18 billions Euro“.

 

Doubts about the project had been increasing. Uncertain political and economic conditions, significantly rising costs and building delays in the construction of nuclear plants in France and Finland as well as low electricity prices depressed the overall mood.

 

„These conditions definitely do not motivate to take on these risks“, E.ON board member Klaus-Dieter Maubach said recently. „It´s just not possible to build a nuclear power plant when electricity costs are at 60 Euro per MW“ Peter Terium, chef of RWE, had explained earlier. Terium has set the bar high.

*********************************************
UNABHۀNGIGE ARBEIT BRAUCHT UNABHۀNGIGES GELD!

Bitte unterstüŸtzen Sie unsere Arbeit durch eine Spende
GLS Bank / Konto 4035 295 900 / BLZ 430 609 67

urgewald e.V. ist als gemeinnüŸtzig und besonders fšörderungswŸrdig anerkannt.
*****************************************************
Heffa SchüŸcking
Urgewald e.V.
Von-Galen-Straße 4
D-48336 Sassenberg
Tel. +49-2583-1031
+49-2583-9189937 (direkt)
Fax  +49-2583-4220
Mobil +49-160-96761436
http://www.urgewald.de

*****************************************************