FRANKFURT (Reuters) - Talks with the German government on how to compensate utilities for a planned shutdown of their coal-fired power plants are being driven by facts, not feelings, RWE’s (RWEG.DE) Chief Executive Rolf Martin Schmitz told journalists on Wednesday.
“I would describe the discussions as fact-based and unemotional,” he said after presenting first-half results. Schmitz said he continues to expect a deal in the second half of the year.
RWE is demanding 1.2 billion to 1.5 billion euros ($1.3-$1.7 billion) of compensation per gigawatt of coal capacity it has to shut down as part of Germany’s plan to exit the energy source.
Reporting by Christoph Steitz and Vera Eckert; Editing by Michelle Martin