RWE SELLS NETWORK

[BIZ/INFRA: Essen, March 18]
The European Commission has officially approved RWE’s formal commitment to sell its German gas transport network (TSO Gas), making that commitment legally binding. In order to bring the EU proceedings over the company’s natural gas interests to an end, RWE has stated that it is prepared to divest its gas transport network.

Before the decision was made, one of the measures taken was a ‘market test’, which entailed market participants evaluating the company’s formal commitment. This market test was brought to a successful conclusion. RWE will now begin the process of selling the German gas transport network within the set time periods.

RWE remains convinced that it has complied with all legal requirements. RWE's formal commitment vis-à-vis the European Commission does not represent an admission of guilt but is instead based on a business decision by the Group to avoid protracted litigation.

The gas transport network is around 4,000km long and is located in the Federal States of North Rhine-Westphalia and Lower Saxony. In total, some 40,000km of pipeline are in operation in Germany.

http://www.rwe.de/