Operating result RWE Power

RWE Power improved its operating result by 4 % to € 2,785 million. This was mainly due to the realisation of higher prices for our German electricity generation. However, compared with the same period last year, the division’s earnings were also marked by negative effects, in particular the outage of both of the Biblis nuclear power plant’s units for maintenance purposes (€ 821 million) and a negative effect of prices on fuel procurement costs (€ 327 million). Staff costs also rose. In contrast, due to the reduction in electricity production, the expense we incurred owing to the shortage of CO2 emission allowances was lower in the period under review (€ 709 million) than in the first three quarters of 2008 (€ 861 million).