German RWE to EUR 409mn invest in Czech distribution network in three years.

By bne IntelliNews September 8, 2011
German power group RWE plans to invest CZK 10bn (EUR 409mn) in its gas distribution network in the Czech Republic in the next three years, E15 daily reported. The investments will mainly be aimed at a renewal of gas lines and a replacement of old gas metres. RWE owns the countrys major natural gas importer RWE Transgas. Last year RWEs market share fell by 9pts to 50% due to strong competition on the Czech market. Gas sales to end-clients dropped by 3% y/y to almost 59 terawatt hours. RWE invested more than CZK 4bn in the Czech Republic in 2010.

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