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

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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.

 

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