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Markus Krebber, CEO of the energy group RWE, speaks at the annual press conference.
© Bernd Thissen/dpa
Hydrogen-capable gas power plants are supposed to step in when the wind doesn't blow and the sun doesn't shine.
RWE boss Krebber is putting pressure on the details of the strategy to be clarified quickly.
Essen - The energy company RWE once again earned a lot of money last year from electricity generation and energy trading.
But in recent months, wholesale prices have fallen significantly.
The result: RWE receives less for its increasingly green electricity.
This is also reflected in the outlook for the current year: the energy company, which focuses on generating electricity from renewable energies, is expecting a further decline in profits.
“Times are more challenging given the current weak economic development.
The subdued demand for energy has led to significantly falling electricity prices, which also has an impact on RWE,” explained RWE boss Markus Krebber on Thursday in Essen.
The energy company is calculating adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) this year with a range of 5.2 to 5.8 billion euros - as already announced in November.
“This forecast still applies despite the sharp fall in electricity prices since then.
However, the company currently expects a value at the lower end of the corridor,” it said.
The same applies to the adjusted net result, which should be between 1.9 and 2.4 billion euros.
RWE confirmed the business figures for 2023 presented at the end of January. According to this, adjusted Ebitda rose from 6.3 to almost 8.4 billion euros.
Adjusted net profit was 4.5 billion euros last year after 3.2 billion the year before.
The main reasons were higher revenues from international power generation, strong trading business and an increase in renewable energy capacity.
For 2023, shareholders should receive 1.00 euros per share, and for 2024 the dividend target is still 1.10 euros.
RWE significantly expanded its electricity generation capacity in 2023.
More than 160 systems with a total of 6.3 gigawatts were added, three gigawatts alone through the takeover of the US green power producer Con Edison.
In total, RWE operated systems with a capacity of 46.5 gigawatts at the end of the year.
Of this, 10.6 gigawatts came from lignite and hard coal power plants and 15.7 gigawatts from gas power plants.
Plants for renewable electricity generation from wind and solar power had a capacity of 17.5 gigawatts.
Pumped storage and batteries make up the rest.
According to the information, the CO2 emissions of the RWE power plant park fell by 27 percent to 60.6 million tons.
The number of RWE employees rose by 3,500 to a good 20,100 in 2023.
Krebber is pushing for quick decisions on the remaining open questions regarding the power plant strategy.
“So far we only know key points.
The coordination with Brussels is pending.
The specific design is still open.
Time is really running out now,” said the manager.
Germany has a Herculean task ahead of it to maintain security of supply.
“We have to completely replace our previous backbone of security of supply - nuclear energy and coal.”
The key points presented by the federal government in February were clearly in the right direction, emphasized Krebber.
The short-term tenders for ten gigawatts of hydrogen-capable gas power plants are a start.
“The first tenders must be made by this year at the latest so that the power plants can start operating within this decade.”
Krebber reiterated the company's intention to participate in the tenders.
RWE wants to build at least three gigawatts by the end of the decade and can imagine even more.
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The federal government presented the key points of a strategy for building hydrogen-capable gas power plants in Germany at the beginning of February.
The power plants are intended to generate electricity in a climate-neutral energy system when the sun is not shining and the wind is not blowing.
In addition to the tenders, the federal government wants to develop concepts for a so-called capacity mechanism.
A political agreement on this should be reached within the federal government by summer.
Using such a mechanism, operators could be rewarded for maintaining power plant capacity.
Krebber welcomed the announced entry into a capacity mechanism.
“We know from other countries how well this instrument is suitable for ensuring security of supply at reasonable prices,” he said.
dpa