Energy crisis: EnBW probably won’t drop gas surcharges

Energy crisis: EnBW probably won't drop gas surcharges

Unlike its rival RWE, EnBW probably doesn’t want to do without claiming a gas surcharge. Energy Group CFO Thomas Kusterer said this while presenting the half-yearly balance sheet as per SWR on Friday. “We are in a completely different situation,” Küsterer said, referring to RWE. Its CEO Marcus Kreber also said on Friday that his company gets comparatively less gas from Russia. EnBW now refers to the high replacement purchase cost for the missing gas quantity.

In the NBW division of thermal production and trading, adjusted results for the first half of 2022 fell by 12 percent to approximately EUR 305 million compared to the same period last year. Declaration of half yearly results, The sales department reported a 49 percent drop in earnings, reflecting a “persistently tough overall situation.” Overall, the result adjusted for special effects was 1.42 billion euros. That is, a decline of 3.7 percent compared to the same period last year.

EnBW recently announced that it will increase electricity prices by 31 percent in basic supply charges, citing the increased procurement cost as the reason. EnBW had earlier reduced electricity prices twice since 2020. The company has around 5.5 million customers.

In connection with the possible prolonged operation of nuclear power plants in Germany, the group awaits the second stress test on the safety of power supplies, Reports to SWR, So Küsterer confirmed the company’s earlier statements that EnBW could continue with fuel rods at the Neckerwestheim 2 nuclear power plant for a few more weeks after the end of the year.

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Last year, EnBW purchased a total of 495 TWh of natural gas, the company said in March this year. 20 percent of this came from direct supply contracts with Russian suppliers. It has two long-term contracts with Russia, the longest lasting until 2030. NBW did not want to conclude new contracts with Russia, it said.


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