Do you remember, Hendrik?

We look after RWE’s key accounts, which are energy-intensive companies, larger municipal utilities and aggregators. We offer our commodities which include (green) electricity, (green) gas, CO₂, coal and oil price hedging in customer-oriented structures. On this basis, we develop individual green electricity solutions together with our customers and optimise customers’ flexibility. In collaboration with the experts from CAO, Generation and RES, we also create innovative battery concepts and generate green electricity from dedicated plants.

Trading has been a part of my work since the very start. When I joined the former RWE Energie AG in 1999 as an assistant to the Executive Board after completing my studies in economics, founding RWE Trading Limited was at the top of the agenda. I was then involved in setting up commodity risk management at RWE AG. Alongside trading, matters such as hedging and optimisation of the power plants at RWEST were being dealt with at the time. I was responsible for group-wide credit risk management, among other tasks. I then took on another role in the AG: In Group Controlling, I was responsible for trading/midstream and the former continental generation company. In 2008, I was given the opportunity at RWEST to join the new Excelerate joint venture in Houston for three years as CFO, together with Andree Stracke as CCO. Following my return to Essen in 2011, I worked as Merchant CFO and was responsible for the financial side of areas including the Sales & Origination business and Principle Investments. In 2013, I had the chance to switch to the commercial side.

My time there was really informative and fascinating. After years in Holding roles, I suddenly found myself in the midst of the operational business. Although Excelerate had an asset base worth billions with global business in countries such as Argentina and Kuwait, it had the structure of a start-up in the beginning. We had to do an awful lot of development work and deal with many things that were new to me, such as international tax optimisation. So the learning curve was rather steep. But we also had freedom. I gained a wealth of experience that I still benefit from today. I also wouldn’t want to have missed out on the experiences I’ve had in my current role!

In my first year in Houston, we were facing a season of really bad weather according to the forecasts. When we got the first hurricane warning, our American colleagues rushed out of the offices and in the end only one garden chair had tipped over. We did wonder whether the Americans were perhaps overreacting a little [smiles]. I was in Buenos Aires during the following hurricane and a colleague called to tell me that I should come straight back. I was persuaded to fly back, and fortunately in this case it was the right decision. The storm was devastating. A tree fell on our home and the city had a power outage lasting several days, which meant no fridge and no telephone. Being forced to do without refrigeration led to some positive experiences at the start, neighbours pulled together and had barbecues to use up food reserves. But it quickly turned into a crisis. To make a phone call we had to travel ten miles to a telephone pole on the motorway. However, no electricity also meant no working petrol pumps. The lack of petrol meant that we had to change cars one after the other to get to the mentioned destination. It was a bit like the book “Blackout”.

What I particularly like about RWEST is our completely commercial approach, our desire to succeed. At RWEST, we all need to keep moving in order to stay ahead. The competition quickly adapts all innovations, so there is a constant need for new ideas. Every year we start from scratch, and this has left its mark on our mindset. We have a high level of endurance. We stay on top of things and are able to handle difficult circumstances and challenges well. It is also important to get feedback on things that don’t work so well. Sometimes this is painful but it allows for adjustments to be made.

Many colleagues have been here a long time, achieved great things in the company and overcome crises – this makes us experienced and strong as a team. We are a bit like a family at RWEST. The advantage of this is that you know one another really well, understand what makes others tick and have mutual trust. However, we do benefit from external stimulus from time to time, as well as from more intensive cooperation. Our customer business creates source of inspiration for both sides.

Many thanks for 20 wonderful years and all the best for the next 20! The combination of a family atmosphere, the impressive wealth of experience of employees and the persistent commercial drive and success are what make RWEST special for me. We will have to work hard to remain the commercial heart of RWE. But in the end we always come up with something great!

Interviewer: Dana Turi, Corporate Communications & Events