New E.ON CEO Teyssen Supports Nuclear Power Extension and Datteln Project
Published on May 7, 2010
E.ON AG’s new CEO Johannes Teyssen continued on the course of his predecessor Wulf Bernotat with respect to nuclear and coal. He supported the extension of the life-span of German nuclear power plants as well as E.ON’s coal-fired power plant project in Datteln at the annual shareholder meeting.
“I fail to see how Germany can do without nuclear energy in the short-term, if energy supply and climate protection shall remain affordable”, Mr Teyssen said. E.ON reportedly sold residual capacities of its shut down nuclear power plant in Stade to its competitor RWE AG so that RWE can operate its Biblis A longer. Furthermore, E.ON is presently modernizing its nuclear power plants in Sweden for a total operation time of 60 years.
Mr Teyssen also defended E.ON’s construction project of a coal-fired power plant in Datteln, North Rhine-Westphalia. It would replace older power plants, thus minimizing CO2 emissions by 1.7 million tons per year. This would be the biggest single contribution to greenhouse gas emission reductions in the whole of North Rhine-Westphalia, he said.
The new CEO highlighted E.ON’s stable earnings in 2009. E.ON’s adjusted EBITDA reached EUR 13.5 billion and was thus about 1% higher than in 2008. It’s adjusted EBIT amounted to EUR 9.6 billion, which was 2.3% lower than a year earlier. Sales fell by 6% in 2009 to just under EUR 82 billion. Given these stable earnings, the executive and supervisory board proposed a dividend at prior-year level of EUR 1.50 per share. As Mr Teyssen pointed out, E.ON offers the second highest dividend yield (5.5%) of all DAX 30 companies...
http://www.germanenergyblog.de/?p=26731) The CCS bill was passed now because every country in the EU was required to pass one by a deadline of a few days ago. It does not move CCS forward as it only calls for planning a predetermined number of CCS demonstration projects.
2) Wind-watch is a well known rightwing antiwind website with ties to the coal industry. It would be appreciated if you'd not post their links here.
3) Your Platts link doesn't address what the public thinks, and it is rather dated. The polling currently shows that a strong majority is perfectly willing to pay to move away from nuclear. The environment ministry says getting to 50% renewables by 2020 is doable and the cost would not be high. From your DW link: "But representatives from Germany's renewable energy industry point out that while the switch to cleaner energy is costly, it only makes up for
0.2 percent of an individual household's outgoings."
4) Your interest seems fixed on trying to convince people that shutting down nuclear means more coal.