BERLIN Jan 2 RWE will be able to pay
the 6.8 billion euros ($7.15 billion) requested by the
government to fund the storage of nuclear waste in one lump sum
by the middle of 2017, newspaper Die Welt reported, citing the
firm's chief executive.
German utilities RWE, E.ON, EnBW and
Vattenfall agreed with the government in October to
start contributing this year to a 23.6 billion euro fund in
exchange for shifting liability for nuclear waste storage to the
state, giving investors greater clarity over their future
The companies had been pushing to get favourable terms of
payment and the October deal allows them to transfer the funds
at one stroke or in several more costly instalments over the
"We don't need to draw on the possibility of payment by
instalments," RWE CEO Rolf Martin Schmitz said in an interview
with the daily newspaper published on Monday, adding that RWE
was "well positioned" after raising billions in a stock listing
of a minority holding in energy group Innogy.
But the firm will step up cost-cutting efforts and cut 2,300
jobs in Germany, the Netherlands and Great Britain between 2015
and 2020 to cushion the impact of low wholesale electricity
prices, Schmitz said.
($1 = 0.9510 euros)
(Reporting by Andreas Cremer; Editing by Robin Pomeroy)