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MarketScreener Homepage  >  Equities  >  Xetra  >  Siemens AG    SIE   DE0007236101

SIEMENS AG

(SIE)
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Siemens : launches local power trading platform with German utility

10/22/2020 | 09:28am EST
FILE PHOTO: High-voltage power lines and electricity pylons are pictured near Berlin

FRANKFURT (Reuters) - German technology group Siemens and utility Allgaeuer Ueberlandwerk (AUEW) on Thursday launched a trading platform that allows small rooftop solar energy producers to trade power locally with other households and businesses.

The platform in the Bavarian village of Wildpoldsried, called Pebbles, is aimed at keeping locally produced energy in the community, by helping for instance households with solar panels to sell power to neighbouring businesses like bakeries.

Using blockchain technology to link participants via an app, it allows producers to earn money from marketing their excess production, the firms said, while distributing power locally represents a more efficient use of the grid.

Germany's power industry is moving towards integrating more renewable plants to decarbonise its energy systems. As most generate only intermittently according to weather conditions, their volatility can put stress on transport grids.

"If we want to achieve the energy transition, we have to get small protagonists on board and integrate them," said the project leader for Siemens, Michael Metzger, in a webcast.

Pebbles will initially run up to November 2021. Siemens delivered the technology, while AUEW operates the platform and will develop a longer-term business model.

Network company AllgaeuNetz is also studying grid-stabilising services that participants can offer to earn money, such as installing batteries in their homes to store captured solar power.

In addition to the technical challenges of the green energy roll-out, thousands of wind and solar producers will no longer receive guaranteed fixed payments for their output from next year as 20-year price guarantees expire, and must look for alternative income.

(Reporting by Vera Eckert; Editing by Jan Harvey)


© Reuters 2020
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Financials
Sales 2021 58 189 M 70 525 M 70 525 M
Net income 2021 4 491 M 5 443 M 5 443 M
Net Debt 2021 27 452 M 33 272 M 33 272 M
P/E ratio 2021 20,3x
Yield 2021 3,25%
Capitalization 90 553 M 110 B 110 B
EV / Sales 2021 2,03x
EV / Sales 2022 1,91x
Nbr of Employees 293 000
Free-Float 88,0%
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Average target price 126,47 €
Last Close Price 113,30 €
Spread / Highest target 32,4%
Spread / Average Target 11,6%
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Josef Kaeser President & Chief Executive Officer
Jim Hagemann Snabe Chairman-Supervisory Board
Roland Emil Busch Deputy CEO, COO, CTO & Labour Director
Ralf Peter Thomas Chief Financial Officer
Hanna Hennig Chief Information Officer
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