Innogy, which is 76.8 per cent owned by top German utility RWE, saw its share price rise 2 per cent on Thursday, amid speculation of a takeover by Spain’s Iberdrola.
Germany’s top power utilities have recorded a major victory over the government, after the country’s highest court ruled a law imposing a tax on nuclear fuel was unconstitutional.
Germany’s constitutional court has ruled that the country’s government must compensate utilities for the decision to phase out nuclear power entirely by 2022.
The chief executive of Czech utility EPH has been outlining the reasons why his company has gone against the grain in purchasing coal-fired power plants around Europe at a time when the trend is going in the other direction.
Germany has approved a deal with its major utilities on how to cover the costs of handling and storing nuclear waste.