Companies & Finance

Lower power prices and margins weigh on RWE Q1 results

RWE saw a fall in profits in Q1 2018 compared with the same period last year, the German power giant has said.
By Staff reporter 15 May 2018 0 30854

RWE saw a fall in profits in Q1 2018 compared with the same period last year, partly as a result of lower wholesale power prices and slimmer margins from conventional power generation, the German power giant has said.

RWE’s adjusted EBITDA was €1.9 billion ($2.27 billion) during the quarter compared with €2.1 billion in the first quarter of 2017. Adjusted net income was €517 million compared with €689 million in Q1 2017.

The company said margins from gas- and coal-fired plants...