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RWE loses lawsuit with Uniper upholding Datteln PPA – update

Power

12 Mar 2018 11:59

Frankfurt

12 Mar 2018 11:59

(Montel) A German court has upheld a long-term power purchase agreement made by RWE for supplies from Uniper’s new coal plant Datteln 4 (1,055 MW) in western Germany, Uniper said on Monday.

(Updates story published at 12:26 CET with a comment from RWE.)

“The court ruled in our favor… [and] rejected price adjustments for RWE,” Uniper spokesman Georg Oppermann told Montel.

Uniper took RWE to court after the later unilaterally terminated the PPA in 2016 due to delays in the commissioning of the plant and the fact the contract was signed in a “totally different market environment” when power prices were higher.

Back in 2011, the EEX front-year power contract ranged between EUR 50-60/MWh, twice as much compared to the point at which RWE cancelled the contract.

The plant was originally due online in 2011 but has been beset by problems, with the latest start-up date pegged for this December. 

Losing the court battle could have impacted Uniper’s financial results, the company said in its annual report last week.

RWE would most likely appeal the decision after analysing the full verdict, company spokeswoman Stephanie Buchloh told Montel, adding the judges ignored key aspects of the firm’s case.

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