Revenue RWE Energy

RWE Energys external revenue amounted to € 18.2 billion, 5 % up year on year. Without currency effects, this growth would have been more significant. RWE Energys electricity revenue rose by 7 % to € 11.5 billion. The improvement of the sales volume in Germany contributed to this, but price increases due to higher procurement costs were the main reason. Notably, our supply companies generally purchase electricity in advance, similar to most of our competitors. Therefore, 2009 procurement costs are still affected by the price peaks seen on the wholesale market in 2008. Against this backdrop, some of our German regional companies increased their standard electricity tariffs effective April 1, 2009, including RWE Westfalen-Weser-Ems and RWE Rhein-Ruhr, both of which implemented raises of 6.8 %. External revenue earned from RWE Energy’s gas sales amounted to € 5.9 billion, matching the prior-year level despite declining volumes. In 2008, our German regional utilities had increased tariffs in reaction to the rise in procurement costs. However, the positive effects were diminished by several price reductions this year. In so doing, we reacted to the recently decreasing gas procurement costs.