Outlook RWE Energy

Our forecast for companies within what used to be the RWE Energy Division envisages them closing the year with an operating result matching last year’s level, adjusted for the effects of the reclassification of RWE Transportnetz Strom (now “Amprion”) and RWE Key Account. Incentive-based regulation, in effect since January 2009, places high demands on the efficiency of our German electricity and gas grid activities. To limit the impact this will have on earnings, we have implemented extensive cost reductions. In addition, we intend to improve earnings in our supply business. We will continue to pursue our value-oriented sales policy to this end, while striving to limit customer losses. We also want to win customers, both within and outside of our traditional supply regions, by developing and marketing innovative products.