RWE sees no
prospects of a short-term recovery in wholesale power prices and
will look for savings in its generation arm, its chief financial
office Bernhard Guenther said during a call with analysts on
Wednesday.
"We will not accept loss-making operations in the
long-term," Guenther said.
German electricity forwards benchmarks set fresh 12-year
lows only on Monday, depressing future margins to be expected at
RWE, the country's biggest power producer.
RWE faces the worst crisis in its 117-year history,
suffering from low power prices, a surge in renewable capacity
and uncertainty over the size of provisions for the shutdown of
its nuclear plants.
Shares have fallen more than 40 percent since mid-August,
also hit by concerns over billing issues at its British unit
npower.
(Reuters)