RWE Expects EBITDA To Be Negatively Affected By Extreme Weather Conditions

(RTTNews) - German utility RWE AG (RWEOY.PK) Thursday said that the extreme weather conditions in Texas/USA lead to outages of RWE's wind turbines and high electricity prices.

In order to be able to meet its own delivery obligations, RWE currently has to buy electricity at abnormal high pricing conditions following an order of the Public Utility Commission of Texas directing the Electric Reliability Council of Texas to reflect scarcity prices.

As a result, the EBITDA of the Onshore Wind/Solar segment in 2021 are expected to be negatively affected in the range of a low to mid three-digit million euro amount in total.