25 February 2009 – RWE is reorganizing its ultra-high voltage network into an “Independent Transmission Operator (ITO)” to address one of the key points of the Third European Energy Package currently being discussed in Brussels, it said in a press release.
“RWE is now offering proof that the independent transmission operator also desired by the German Federal Government stands for the maximum degree of independence, non-discriminatory access to the grid and transparency”, said Dr. Juergen Grossmann, CEO of RWE AG.
The transmission system operator, RWE Transportnetz Strom, will be assigned to RWE AG and have its own staff performing all the necessary operational tasks. All of the changes required for this restructuring will be made in the first half of 2009.
At each of the Group’s locations, there will be a consistent physical separation between the ITO and other RWE companies. RWE Transportnetz Strom will continue to be based in Dortmund.
“RWE will continue to invest substantially in the maintenance and expansion of its transmission system in the future. Over the next 10 years, some €3 billion alone will be devoted to expanding the grid, which will enable it to cope with the challenges of the future.
“It is the only way we can sensibly integrate the politically and commercially desirable expansion of renewable energy within our grid”, Grossmann underlined. “The transmission system is and remains part of the core business of RWE.”
In order to formally document the separation from the Group’s other network business, the new company will report directly to the CEO of RWE AG.