EnBW, the third largest utility in Germany, wants to phase out coal completely by 2028. An accelerated expansion of renewable energies and the grid is important for this, said the new CEO Andreas Schell on Monday in Stuttgart. Politicians must create the framework conditions. “We take our responsibility seriously. But we can’t be left alone with that.” Schell emphasized that in the planning of the Karlsruhe group, 2028 was the best possible year for the coal phase-out, not the earliest possible. In 2022, EnBW made itself independent of Russian gas and Russian coal in a very short time, added Schell, who succeeded long-standing CEO Frank Mastiaux in November.
Mastiaux had trimmed the provider, which used to rely heavily on nuclear and coal-fired power plants, on an eco-course. At around EUR 3.2 billion, the Group’s investments in wind farms and the expansion of electricity transmission networks, for example, were twelve percent higher than in the previous year. The nuclear age should come to an end for EnBW as well as for RWE and E.ON in mid-April. Then the last three reactors in Germany should be switched off. When asked what would happen if politics pushed for a longer term, Schell replied: “We have reached a point where it is now too late to think about continued operation.”
In the past financial year, EnBW was able to increase its operating result by eleven percent to 3.3 billion euros. The division with renewable energies screwed up its result by over 39 percent to 1.11 billion euros. Among other things, it benefited from higher prices, newly commissioned solar parks and better wind conditions. The shareholders, above all the state of Baden-Württemberg and local municipalities, are to receive an unchanged dividend of EUR 1.10 per share for 2022.