RWE Says German Power Prices Must Rise to Plug Nuclear Gap

RWE AG, Germany’s second-largest utility, said power prices must rise to justify the construction of generators needed to plug a supply shortfall left by the government’s plan to exit nuclear energy.

“The market doesn’t support new investments at the moment,” Leonhard Birnbaum, the Essen-based company’s chief commercial officer, told reporters today. “We’d need power to be somewhere around 75 euros to 80 euros a megawatt-hour.”