In Germany, RWE claims to have the necessary funds to cope with a record rise in energy prices.
The country’s largest electricity producer also states that the company’s cash managers have prepared for the worst.
RWE has sufficient liquidity
Uniper, RWE’s smaller rival, announced two weeks ago that it needed a further €10 billion.
For its part, STEAG, the regional utility, was forced to obtain additional funding due to energy prices.
Since the end of 2021, wholesale prices have fallen.
However, the industry expects market volatility to continue.
On the other hand, retail customers are seeing high electricity bills.
Nevertheless, RWE’s CEO expects prices to normalize at a level above the historical average.
He adds that this situation could persist as long as Germany continues to be dependent on fossil fuels, particularly coal.
On the other hand, the end of coal requires an acceleration in the development of renewable energies, according to RWE’s CEO.
At the same time, investments to ensure security of supply are essential.
