Germany’s biggest utilities face dwindling market shares as the shift to renewable energy spurs regional power generation and storage technology, a senior member of Chancellor Angela Merkel’s party said.
Angela Merkel wasn’t in a hurry to inflict economic pain on Russia. Cautious, pragmatic and mindful of German business ties to the country, the chancellor tried to defuse the Ukraine crisis through back-channel diplomacy and frequent phone calls with Russian President Vladimir Putin.
RWE AG, the German utility that reported its first loss in at least 65 years last year, expects its earnings base to “largely stabilize” from 2015 as it takes steps to overcome revenue shortfalls caused by the country’s shift out of nuclear power.
The U.S. readiness to impose new economic sanctions on Russia over Ukraine is offset by the European Union’s reluctance to introduce stronger measures that could threaten its already fragile economic recovery.