- RWE AG, until 1990: Rheinisch-Westfälisches Elektrizitätswerk AG, is a German electric utilities company based in Essen, North Rhine-Westphalia
RWE Net worth 2024 (estimated)
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RWE facts
- Through its various subsidiaries, the energy company supplies electricity and gas to more than 20 million electricity customers and 10 million gas customers, principally in Europe
- RWE is the second largest electricity producer in Germany, and has increased renewable energy production in recent years
- RWE previously owned American Water, the United States' largest investor-owned water utility, but this was divested in 2008
- It also owned RWE Dea (now DEA AG), which produced some of the oil and gas RWE sold (annual production is around 2 million m3 of crude oil (about 365,000 BOE) and 3 billion m3 of natural gas (about 18 million BOE, 49,300 BOE) a day
- RWE confirmed in December 2015 that it would separate its renewable energy generation, power grid and retail operations into a separate company during 2016, and sell a 10% holding in the business through an initial public offering
- The restructuring was caused by an effort to reduce the group's exposure to nuclear decommissioning costs, required due to a German government policy of closing all nuclear power stations by 2022
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