German energy utility EnBW posted a loss of €1.8bn in 2016 against a €158m benefit in 2015. This is the first time since 2003 that no dividend is paid. This loss is caused mostly by the nuclear fund transfers agreed on with the German government. Under the frame of this agreement, EnBW will have to pay €4.7bn in the 2017 financial year. EnBW also posted a 8.5% loss in external revenue from €21.6bn down to €19.3bn.
In December 2016, the German parliament approved a law providing details for financing a state fund liable for nuclear waste storage. The four main German power generating companies (RWE, E.ON, Vattenfall and EnBW) will have to pay €23.6bn to a state fund as of 2017 to transfer the liability of nuclear waste storage to the Government (payment in one lump sum in January 2017 or in several tranches until 2026). The companies will remain responsible for dismantling the nuclear plants.
EnBW (owned by public actors) is the fourth German largest utility company with an installed capacity of 13.6 GW (end-2016), 3.1 GW of which from renewables and 10.4 GW from thermal power plants. In 2016, EnBW generated of 53 TWh (-5.3%), due to a 7.7% reduction in its thermal and nuclear generation (-12% for hard coal and -17% for nuclear), which accounted for 84% of its power mix during the year.
In 2017, the Group has approvals for 16 wind parks (64 turbines) with a total expected output of 200 MW. In 2016, the renewable energies onshore capacity increased by 336 MW.
The group also sold 115 TWh of electricity (stable on 2015) and 139 TWh of gas (+2.9%) in 2016.