Latest developments in the parliament of the City State of Berlin that took place last Wednesday (25th October 2012).
The SPD / CDU coalition agreed to buy back RWE’s 24.9% share in the Berlin Water Company for EUR 654 million, even though RWE had already amortized more than the sum it paid in 1999. This high price is based on an estimate of RWE’s profit over the next 16 years until 2028. But this pales into insignificance compared to the terms of a new contract with the other private partner, Veolia, which, as far as we have been able to ascertain, is concluded for a further 30 years.