RWE, the German energy group, today ruled out making a bid for Scottish & Southern Energy and set out plans to build several new plants in Britain under a €25bn (£16.73bn) five-year investment programme.
Harry Roels, outgoing chief executive, when asked to comment on market rumours RWE was eyeing a takeover of SSE, said in Essen: "No, there's absolutely nothing in it."
SSE is, with Centrica, one of the last two surviving independent British players in the UK's liberalised energy market.
Harry Roels, outgoing chief executive, when asked to comment on market rumours RWE was eyeing a takeover of SSE, said in Essen: "No, there's absolutely nothing in it."
SSE is, with Centrica, one of the last two surviving independent British players in the UK's liberalised energy market.
Announcing a 14% jump in operating profits to €6.1bn last year, helped by the sale of Thames Water, Mr Roels said RWE npower, the group's British arm, could now build two new gas-fired plants in Pembroke and Staythorpe. It has previously said it would opt for one.
He also said npower would invest £100m in three new wind farms in the UK with a capacity of around 100MW and held out the prospect of building new-generation nuclear plants in Britain - if the government gave the go-ahead and there was "social acceptance" for a rebirth of atomic power.
He made plain nuclear energy and clean coal were essential to reduce Europe's dependence on imported power-fuels.
Mr Roels, who has helped increase RWE's market value to €70bn in the last few years, quadrupling its capitalisation, is to make way early next year for Jürgen Grossmann, a private steel company chairman.
The RWE supervisory board surprisingly refused to prolong his contract earlier this week.
The Dutchman, who said he would simply retire, disclosed that he earned €15.3m last year, making him one of Germany's highest-paid executives - largely thanks to a long-term incentive plan and bonuses.
He indicated that his remuneration would be a third lower this year.
He also said npower would invest £100m in three new wind farms in the UK with a capacity of around 100MW and held out the prospect of building new-generation nuclear plants in Britain - if the government gave the go-ahead and there was "social acceptance" for a rebirth of atomic power.
He made plain nuclear energy and clean coal were essential to reduce Europe's dependence on imported power-fuels.
Mr Roels, who has helped increase RWE's market value to €70bn in the last few years, quadrupling its capitalisation, is to make way early next year for Jürgen Grossmann, a private steel company chairman.
The RWE supervisory board surprisingly refused to prolong his contract earlier this week.
The Dutchman, who said he would simply retire, disclosed that he earned €15.3m last year, making him one of Germany's highest-paid executives - largely thanks to a long-term incentive plan and bonuses.
He indicated that his remuneration would be a third lower this year.
Source: The Guardian
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