ODDO : 2025 set to be an energy-packed year in Germany
In the context of Germany’s federal elections, the CDU/CSU’s programme offers answers to: 1/ the issue of the increase in investment needed for the network, 2/ the continuing energy purchasing power of households; 3/ the energy competitiveness of industrial groups; and 4/ supporting the transition to a low-carbon economy. This note presents the main aspects of the programme, its compatibility depending on the coalition partners and a sensitivity analysis for the stocks exposed. We conclude that E.ON offers the strongest upside if the CDU/CSU's programme is applied , while Uniper’s share price already looks to factor in this scenario and the diversity of RWE’s operations makes the stock relatively insensitive to most of the scenarios.E.ON is an investor-owned energy company. The Generation global unit consists of all Co.'s existing (fossil and nuclear) generation assets in Europe. The Renewables unit is engaged in managing Co.'s carbonsourcing and renewables businesses. The Global Commodities unit buys and sells electricity, natural gas, liquefied natural gas, oil, coal, freight, biomass, and carbon allowances. The Exploration & Production unit is a active in the focus regions of the North Sea (U.K., Norway), Russia and North Africa. The New Build & Technology unit include Co.'s project-management and engineering operations to support the construction of new power plants and the operation of existing plants.
RWE is an electricity and gas company. The Conventional Power Generation segment consists of the activities of RWE Power, Essent and RWE npower. The Supply/Distribution Networks Germany segment supplies electricity, gas and heat. The Supply Netherlands/Belgium segment comprises the activities of Essent in the Netherlands. The Supply United Kingdom segment comprises the operations of RWE npower. The Central Eastern and South Eastern European segment contains activities in the Czech Republic, Hungary, Poland, Slovakia, Turkey and Croatia. The Renewables, Upstream Gas & Oil and Trading/Gas Midstream segments include the activities of RWE Innogy, RWE Dea and RWE Supply & Trading, respectively.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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