RWE Will Combine European Power-Plant Businesses in January

RWE AG (RWE), Europe’s largest emitter of carbon dioxide, will combine its fossil-fuel power plant businesses in Germany, the U.K. and the Netherlands into a single Essen-based unit from the start of next year.

RWE Generation SE will have a total generation capacity of 50,000 megawatts and about 18,000 staff, Germany’s second- largest utility said today in a statement.

RWE Generation will be “one of Europe’s biggest generation companies,” Essen-based RWE said. “RWE Generation will deliver greater synergy and improve efficiency in a market environment that is currently difficult and uncertain,” said Rolf Martin Schmitz, RWE deputy chief executive officer, who will oversee the new company.

Frank Weigand, currently chief financial officer of RWE npower, will become CFO of RWE Generation, and Alan Robinson will become chief commercial officer. Currently he holds this position at RWE Supply & Trading GmbH.

Matthias Hartung, who has already been appointed CEO of RWE Generation and currently heads RWE Technology GmbH, will additionally take the helm at RWE Power AG, the German power generation unit, from Johannes Lambertz.

To contact the reporter on this story: Tino Andresen in Dusseldorf at tandresen1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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