In May 2017, innogy had a market capitalization of almost 19 billion euros, making it about twice as valuable as its parent company RWE – and furthermore the most valuable German utility. RWE owns about 77 percent of innogy’s shares. In one of Germany’s largest initial public offerings, innogy had its stock market debut in October 2016.
Innogy pools RWE’s renewables, grid and infrastructure and retail businesses.
Active in 16 countries across Europe, innogy employs about half of its 41,000 employees in Germany and, like RWE, is based in Essen.
RWE’s renewables spin-off innogy is Germany’s largest power provider with 6.8 million customers, and also the country’s dominant distribution grid operator. Power generation: 10.8 TWh, thereof 3.5 TWh in Germany Total electricity customers 16.1 million, thereof 6.8 million in Germany.Įmployees: 40,636, thereof 20,083 in Germany Market capitalization: 18.8 billion euros (May 2017)Ĭustomers: 23 million customers in Europe, including the grid and retail segments. Grid & Infrastructure in Germany: 9.8 billion euros thereof Retail in Germany: 16.5 billion euros Company CEO is Rolf Martin Schmitz, who was Chief Operating Officer (COO) of the “old” RWE. This pool is RWE’s largest individual shareholder, and therefore exerts strong influence on the company’s decision-making. Towns and cities in RWE’s home region own around 13 percent of RWE. In 2016, RWE’s fossil power plants generated 130 terawatt hours of electricity in Germany, compared to innogy’s less than four terawatt hours from renewables. Furthermore, RWE had to increase nuclear energy provisions for risk surcharges and is expected to contribute 6.8 billion euros to Germany’s state-administered fund for nuclear clean-up and final storage of radioactive waste.Īccording to British climate NGO Sandbag, RWE operates three of Europe’s five most polluting lignite power plants, and the associated lignite mines. RWE’s net loss in 2016 amounted to 5.7 billion euros, mostly due to a 4.3 billion euros impairment on German power plants and other assets in Europe. RWE’s most important markets are Germany, the Netherlands, the UK, and Turkey. RWE still owns almost 77 percent of innogy’s shares, which is therefore included in its financial results. RWE is headquartered in the city of Essen and focuses on conventional power generation and energy trading, after the carve-out of its renewables, grid and retail operations created subsidiary innogy SE in April 2016. Power generation: 216.1 TWh, thereof 133.8 TWh in Germany Market capitalization: 9.3 billion euros (May 2017) Net loss: 5.7 billion euros (2015 loss: 170 million euros)Įmployees: 58,652, thereof 40,636 at innogy thereof 40 billion euros attributable to innogy Please note: The remainder of this factsheet has not been updated and is based on data available in May 2017. The following graph illustrates major components of the complex deal:įind a collection of reactions to the deal from German politicians, energy companies and researchers here.Ĭheck the CLEW dossier Utilities and the energy transition for background on Germany's changing energy market. E.ON is to concentrate on the highly regulated distribution grid with its stable returns and end-customer focused energy solutions, while RWE takes on E.ON's and innogy's renewable businesses, on top of coal- and gas-fired power plants. E.ON plans to buy RWE's green power subsidiary innogy, and the two utilities will exchange large parts of their assets to focus their activities.
RWE and E.ON agreed in March 2018 to a major asset-swapping deal that would drastically reshape Germany's energy landscape, already in turmoil as the country's phase-out of nuclear power and transition to renewable power sources is wrecking old business models, and new competitors enter the frame. RWE and E.ON overhaul power sector with innogy split
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