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16 June 2003 - German multi-utility RWE AG plans to cut the number of its units to seven from 13 with a new structure to be discussed at an extraordinary supervisory board meeting on June 26 and implemented from Oct. 1, according to a report in the German newspaper Westallgemeine Zeitungs.

The plan involves the merger of all generation units - RWE Power, RWE Rheinbraun and Harpen - into one single entity based in Cologne, as well as the merger of RWE Plus, RWE Gas, RWE Net and RWE Solutions into one distribution subsidiary headquartered in Dortmund, the paper says.

New RWE CEO Harry Roels has said that streamlining the company's structure is a priority and pledged to present a project by this summer. The reorganisation is expected to result in the loss of 1000 jobs.

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