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RWE Said to Drop Two Coal-Fired Power Contracts

RWE AG, Germany’s biggest electricity producer, plans to drop at least two long-term contracts to buy wholesale power because of sagging energy demand, two people familiar with the matter said.

RWE won’t extend agreements with generator and trader STEAG GmbH for several hundred megawatts of hard coal-fired power that expire in the next two years, one of the people said. RWE also isn’t renewing contracts with other operators of two smaller hard-coal plants, the other person said without being specific. Both asked not to be named because the matter is private.