RWE announces details of its disposal of German gas transmission network

Gas market proceedings draw to a close / Market test by EU Commission begins

Essen, (PresseBox) - To bring the proceedings over its natural gas interests to an end, RWE AG has submitted a formal statement of commitment to the EU Commission to sell its German gas transmission network (TSO Gas). The undertaking is based on the agreement that RWE reached with the Commission in May of this year, by which RWE indicated it was prepared to divest its gas transmission network to an independent third party. The roughly 4000-km-long network in question runs through the German states of North Rhine-Westphalia and Lower Saxony. The EU commission will now conduct a "market test" to allow market participants to assess the situation. It will then decide whether to end the current proceedings, and also make a decision on the binding nature of the formal statement of commitment.

RWE is still convinced that it has complied with all legal requirements for its gas business. In order to avoid protracted litigation, however, the Group has decided on a consensual approach and would like to work with the European Commission to bring the proceedings to a close.

There are several foreign companies among the long-distance gas network operators that are active within twelve so-called market territories in Germany. Together they run a long-range transmission system with a total length of around 40,000 kilometres.

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