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- RWE builds the Group radically and applies dozens daughters together.
- The Centre should thus gaining influence .
- The reason for the reconstruction of this and other electric utilities is the energy transition.
Transparent round double facade, natural ventilation, energy from sunlight: The almost 130 meter high tower RWE’s headquarters at Opernplatz in Essen should be for the future of the Group actually billion times. He was one of the first eco-building of the Republic – and the highest in the Ruhr area. “Power Tower” they call the seat of Germany’s second largest energy group sinnigerweise in Essen. But what was meant as a symbol of strength, was last become a symbol of weakness.
Because RWE’s energy in such a fast pace from that of the group a few months ago even to the noble address and outbuildings had to sell a US investor. Since then, speculation about far-reaching changes in the RWE headquarters. On Monday came the certainty: RWE CEO Terium announced in the afternoon the total reconstruction of his company to. In a confidential board meeting the Dutchman had previously submitted to the 20 inspectors his plans under the internal title “Parent”. Given eingebrochener gains Terium wants to abolish the austerity program the opaque network of 100 affiliates until the beginning of 2017 and consolidate dozens daughters or dissolve completely. Overall, according to the plans fall away 32 daughters.
The Supervisory Board also decided to abolish the existing executive offices in the form of a raised holding and transform it into a society in which board members are directly responsible for their divisions. For the tradition consolidated this means a radical change in culture. Previously part of societies and committees exist at RWE side by side, often with guide rods, own boards and supervisory boards in Germany alone ten. All days, decide to monitor – a huge bureaucracy for an ailing firm. That should change: 60 percent of the joint-stock companies and 30 percent of the limited liability companies are to be abolished in the future. This also covers seven of the ten previously supervisory bodies away. The center is so gaining influence and lead areas such as sales and future networks directly.
The conversion could trigger unrest
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RWE, so Ministry of march is, more quickly to changes in the can react sector, especially in renewable energies.
What is technically sound, but the carefully balanced power structure at RWE could destabilize and trigger massive unrest. The group, which has already been released thousands of jobs could emphasize more points. RWE expects Only by eliminating the companies with savings in the tens of millions. Even owners see the conversion skeptical. Cities such as Oberhausen, Bochum, Bottrop, Essen, Dortmund, Duisburg and Gelsenkirchen are directly involved in RWE. You get every year several hundred million euros dividend and insisted on the influence by those companies which RWE will now partially dissolve. On resistance in union stock likely encounter that the austerity of the Group clearly not applicable in the highest management level. While the company continues to shrink, to grow the boardroom. The current four-member panel will be expanded to a total of seven
future of energy companies – E.on and E.off
Since almost ten years, the German utilities such as Eon, Vattenfall, RWE and EnBW already now fighting against the loss of meaning. Since the accelerated nuclear phase-out to Fukushima from 2011, a serious crisis in the industry has become that even the existence of utilities into question the long term. The rapid expansion of green energy leaves resting conventional power plants more frequently. In the coming years, dozens more plants are unnecessary.
Even competitor Eon is planning a spectacular conversion
None of the German energy companies but the situation is currently as serious as in the founded in 1898 Rheinisch-Westfälische Elektrizitätswerk. The stock price of RWE was recently crashed downright. The papers quoted on Monday at only 20 euros. The end of 2007 it still stood at nearly 100 euros. RWE is worth on the stock market today still just about eleven billion euros. Given the crisis threatens a vicious circle: for investment in new business RWE lack the means. Because in addition to falling profits overloaded also a gigantic debt mountain of 28 billion euros to the company. RWE follows with the remodeling the spectacular example of Eon. The utility takes the end of the division into a green future part – green electricity and networks – and a black part – the business with coal, gas and nuclear. Eon wants to partly give up this new company under the name Uniper to their own shareholders and bring partly to the stock exchange. RWE, however, retains the traditional power plant business for the time being. However, it remains a separate legal entity, unlike many recent daughters. This should cheer speculation that RWE could split the low-yielding plants later.
The parlous state Shops German power companies had recently awakened in politics always doubts whether the companies after the nuclear phase-out or for the decommissioning and disposal can pay their nuclear legacy. Overall, more than 35 billion euros have been made to provisions for the four operators corporations Eon, RWE, Vattenfall and EnBW. You often get stuck in investments in other companies or power plants. The latter, in turn, suffer greatly from the fallen market prices for electricity.
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