Terium bemoans investment uncertainty

The head of RWE, Peter Terium, has once again bemoaned the market conditions causing the German utility severe economic strife.

He told the Frankfurter Allgemeine Zeitung newspaper on Monday that the group is missing financiers for its investments.
“We need money for growth. Currently we do not get that, “he said, adding that politics was responsible for the situation.

“An American investor who puts Euro in RWE today, has no assurance that this money actually flows in growth or if the environment policy will change so that the Euro needs to go somewhere else.”

Despite the gloom the chief executive said the company still had a solid foundation.

“The company is fully financed. Liquidity by the end of the decade is secured, “said the CEO.

A sale of a 25-per cent stake in the electricity grid operator Amprion is not on the agenda, but a separation of the nuclear company Urenco is according to Terium.

The Urenco sale has however been delayed because of the general state and utility discussion over nuclear provisions. Industry sources told the newspaper the Urenco share RWE could expect a profit of around one billion euros.

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