Germany’s fourth largest generator EnBW expects earnings from its conventional power station business will drop by 80% to 2020, it said March 7. The catastrophic decline is to be offset by 250% earnings growth in its renewables business, 25% growth in grid infrastructure and 100% growth in its decentralized sales business, the utility said. “Our strategy follows the shifts in the value chain triggered by the [German energy transition] Energiewende,” EnBW CEO Frank Mastiaux said in the company’s 2013 earnings statement. “Traditional markets are contracting, while new and interesting growth markets are emerging to which we will orientate ourselves consistently with our new strategy.” Earnings at its power generation unit declined 25.8% last year, primarily reflecting a fall in wholesale prices and reduced spreads in electricity production.
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