RWE has announced that the European Commission has approved its formal commitment to sell its German gas transport network, TSO Gas, making the commitment legally binding.
In order to bring the EU proceedings over the company’s natural gas interests to an end, RWE had earlier stated that it is prepared to divest its gas transport network.
The company said that, before the decision was made, one of the measures taken was a market test, which entailed market participants evaluating the company’s formal commitment. The market test was brought to a satisfactory conclusion. RWE has said that it will now begin the process of selling the German gas transport network within the set time period.
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 is in operation in Germany, said the company.
RWE claims to be among Europe’s five largest utilities. It is active in the generation and transmission as well as the sale and trading of electricity and gas. The company is also into water business in Continental Europe. The company’s 63,500 employees supply 20 million customers with electricity and 10 million clients with gas.
