RWE to further downsize power plant business

RWE (FWB: RWE) is focusing on cuts to its power division in an attempt to react to falling wholesale electricity prices and low utilisation of power plants.

Handlesblatt reported that the German utility will engage in downsizing its power division as part of a $2bn savings programme, which has been increased in scope by $658,000.

The additional scope is being dubbed RWE Neo for its power stations division according to the newspaper.

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