RWE AG said a merger of “major” European utilities is unlikely even as the region’s energy commissioner suggested Germany’s largest power and natural gas companies are too small to compete in a global market.
German Chancellor Angela Merkel will meet representatives from the energy industry including RWE AG’s Juergen Grossmann next week for talks about power plant expansion in Europe’s biggest electricity market.
RWE AG Chief Executive Officer Juergen Grossmann said electricity prices on exchanges have risen as much as 20 percent since the German government introduced a moratorium on nuclear plants, according to a guest commentary in Handelsblatt newspaper.
European countries and utilities should coordinate efforts to determine the future and safety of nuclear power following the accident in Tokyo, said Juergen Grossmann , chief executive officer of German power company RWE.
RWE AG Chief Executive Officer Juergen Grossmann opposes a suggested tax on nuclear power plant fuel, saying the tax would hinder the thrift of power plants that have 10 years or more left until their scheduled shutdown dates, Westdeutsche Allgemeine Zeitung said, citing an interview.