News Formal

RWE’s First-Half Earnings Drop After Decline in Power Prices

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 55 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 63%

Bloomberg News

RWE AG,Electricity Prices,Power Producer

(Bloomberg) -- Germany’s largest power producer RWE AG saw earnings fall by nearly a third in the first half of 2024 from a year ago after a decline in power...

-- Germany’s largest power producer RWE AG saw earnings fall by nearly a third in the first half of 2024 from a year ago after a decline in power prices weighed on results.Gottheimer Calls for Rail Riders to Be Reimbursed for Delays

RWE said its earnings from renewables reached a record during the period, driven by better weather conditions and commissioning of new capacity. Wind and solar accounted for 45% of the company’s power production, and carbon dioxide emissions fell by 27%. RWE added it sees “high” political risks related to US presidential elections in November, which “may lead to a change in US energy policy, which could impede investments in wind and solar energy.”While similar developments are conceivable in Europe, RWE said a recent European Union electricity market reform and the UK election have boosted the likelihood of green investments becoming more attractive.Kamala Harris 4.

ARENDAL, Norway -Norway's $1.7 billion sovereign wealth fund, the world's largest, posted a profit of 1.48 trillion Norwegian crowns in the first half of the year as stock markets rose, the fund said on Wednesday. "The result was mainly driven by the technology stocks, due to increased demand for new solutions in artificial intelligence," CEO Nicolai Tangen said in a statement.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news today: Nasdaq futures lead losses as first Big Tech earnings fail to deliverDisappointing Alphabet and Tesla earnings have stirred up worries that Big Tech's power to fuel stock market gains is fading.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Disney earnings: Streaming unit turns first profit while parks business lagsDisney reported its first streaming profit and raised its earnings forecast, sending shares higher early Wednesday.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Paramount set for first earnings report since announcing Skydance takeoverParamount Global will deliver its first earnings report since announcing plans to merge with Skydance Media.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »