Edited Press Release FRANKFURT -(Dow Jones)- German utility RWE AG (RWE.XE) said Tuesday it is reorganising its ultra-high voltage network.
The network will be reorganized into an Independent Transmission Operator, or ITO and thus taking the early initiative to address one of the key points of the Third European Energy Package currently being discussed in Brussels.
The transmission system operator, RWE Transportnetz Strom, will be assigned to RWE AG and have its own staff performing all the necessary operational tasks.
All of the changes required for this restructuring will be made in the first half of 2009. At each of the Group's locations, there will be a consistent physical separation between the ITO and other RWE companies. RWE Transportnetz Strom will continue to be based in Dortmund.
"RWE will continue to invest substantially in the maintenance and expansion of its transmission system in the future. Over the next 10 years, some 3 billion alone will be devoted to expanding the grid, which will enable it to cope with the challenges of the future. It is the only way we can sensibly integrate the politically and commercially desirable expansion of renewable energy within our grid ", said Chief Executive Juergen Grossmann. "The transmission system is and remains part of the core business of RWE."
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Publié le 24 Février 2009 Copyright © 2009 Dowjones