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RWE says analysing Texan cold snap, conditions specific to region

· 03/16/2021 05:33
RWE says analysing Texan cold snap, conditions specific to region

- German power utility RWE RWEG.DE is analysing events in the U.S state of Texas where power losses due to extremely cold weather caused it to rack up 400 million euros ($477 million) in related losses to date, its chief executive said on Tuesday.

"Nobody was prepared for such cold conditions," Chief Executive Markus Krebber said in a call with reporters after presenting financial results. nL8N2LE0V3

The twin impact of unprecedented local weather effects and isolated grids in the region were a scenario unlikely to be seen Europe and there are no immediate lessons on how to guard against this happening elsewhere, he added.

($1 = 0.8384 euros)


(Reporting by Vera Eckert
Editing by Caroline Copley)

((vera.eckert@thomsonreuters.com; +49 30 2201 33654; @EckertVera;))