The chief financial officer of German utility RWE on Thursday acknowledged the importance of weather to its renewables segment, as the company reported “much lower” wind volumes in Northern and Central Europe for the first half of 2021.
In an interview with CNBC, Michael Müller stressed the need to have a broad range of assets in place to cope with potential fluctuations related to weather conditions.
“I think what you need to do is balance your portfolio,” he said. “So, have a portfolio across different technologies … be it onshore, offshore, or solar or storages, and also across regions.”
“And what we have seen in the first half is there was poorer wind in Europe but at the same time there was stronger wind in the U.S.”
“So our idea is to have a balanced portfolio. But clearly, if you’re a renewables player, you are dependent to some degree on weather conditions.”
For offshore wind, the Essen-headquartered firm’s adjusted earnings before interest, taxes, depreciation, and amortization came in at 459 million euros ($538.5 million) in January to June 2021. This compares to 585 million euros for the same timeframe last year.
Its onshore-solar segment also took a knock, reporting a loss in adjusted EBITDA of 42 million euros.
Referencing this part of its business, RWE said: “The extreme cold snap in Texas led to an earnings shortfall of around €400 million.”
“Additional burdens resulted from below-average wind conditions at onshore wind farm locations in Northern and Central Europe,” it added.
Adjusted EBITDA for the whole group in January to June 2021 came in at 1.75 billion euros, down from 1.83 billion euros in the same period a year earlier. Adjusted net income grew, however, hitting 870 million euros.
Even with the above challenges, RWE described the first half of 2021 as being “very good” financially. “For fiscal 2021, RWE now expects to achieve adjusted EBITDA of between €3.0 billion and €3.4 billion at Group level, which is €350 million higher than forecast in March 2021,” it said.
Orsted maintains guidance despite low wind speeds
Thursday also saw Danish energy firm Orsted state it would maintain its full-year guidance for 2021 even though it flagged that lower wind speeds had affected output in the first six months of the year.
In a statement, Orsted said operating profit for the first half of 2021 came in at 13.1 billion Danish krone (around $2.1 billion), a 3.3 billion krone jump compared to the same period in 2020.
Nevertheless, the firm experienced challenges related to wind speeds. “Earnings from our offshore and onshore wind farms in operation were DKK 0.3 billion lower compared to the same period last year,” the company said.
“The increased generation capacity from new wind farms in operation was more than offset by significantly lower wind speeds across our portfolio,” it added.
Breaking things down, Orsted’s investor presentation said wind speeds in the second quarter of 2021 came in at 7.8 meters per second, which was “significantly lower than normal wind speeds” of 8.6 meters per second.
Looking ahead, the company said it maintained its full-year EBITDA guidance of 15-16 billion Danish krone but added that it was expecting an “outcome in the low end of the guided range.”
This was due to the lower wind speeds as well as “warranty provision towards our partners related to cable protection system issues at some of our wind farms.”
Orsted is a major player in wind energy. In offshore wind alone, its installed capacity amounted to 7.6 gigawatts at the end of 2020.
Mercedes-Benz Electric G-Wagon (Photo: Mercedes-Benz)
If you’ve been eyeing the all-electric G-Wagon, Mercedes-Benz just sweetened the deal – but only for a limited time.
According to a dealer bulletin, the 2025 Mercedes-Benz G 580 with EQ Technology – AKA the electric G-Wagon – now comes with $9,500 in lease cash, up from last month’s $7,500. That’s a 27% jump in savings. The move comes just weeks before the $7,500 EV lease tax credit loophole closes on September 30.
Like most EVs leased in the US, the G-Class has been able to qualify for the credit even though it’s excluded from purchase incentives. That benefit is about to disappear, which likely explains why Mercedes is boosting the offers now.
The electric G-Wagon doesn’t come cheap. With a base price of $162,650, the $9,500 incentive amounts to only a 5.8% discount. The SUV also carries a steep advertised lease: $1,869 per month for 36 months with $14,613 due at signing. Factor it all in, and you’re really paying about $2,275 a month for 10,000 miles a year. Current Mercedes deals run through September 2.
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For context, the 2025 G 580’s lease money factor now sits at 0.00180, which works out to around 4.3% APR – lower than the standard rates previously on offer.
Performance-wise, the electric G-Wagon earns an EPA rating of 62 MPGe and an electric range of 239 miles. Not groundbreaking numbers, but for buyers who want the iconic G-Wagon experience with zero tailpipe emissions, this is it.
With federal lease credits ending soon, Mercedes appears to be betting that drivers looking for a last chance at big EV savings will jump now rather than later.
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The Honda Prologue is a surprise hit. It was the second-best-selling electric SUV behind the Tesla Model Y in the second half of 2024. Now, used models are in high demand.
Honda Prologue leads used EV sales growth in July
After it delivered the first customer models last March, the Honda Prologue quickly became one of the most popular EVs in the US.
Throughout the second half of the year, Honda sold an average of over 5,000 Prologues every month. In November, it was the third best-selling EV, trailing only the Tesla Model Y and Model 3.
Honda’s electric SUV continues to be a top seller this year. Last month, it outsold the Ford Mustang Mach-E and Hyundai IONIQ 5. Since delivering the first Prologue model last March, Honda has now sold 52,500 units in the US.
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According to Cox Automotive’s latest EV Market Monitor report, used Honda Prologue EVs are selling faster than expected.
Used EV sales rose sharply in July to 36,670, up 23.2% from June and 40% compared to last year. Honda had the biggest increase in used EV sales, more than doubling (+103%) month-over-month. Hyundai (+61.3%) and Rivian (60.5%) ranked second and third.
Honda Prologue Elite (Source: Honda)
Tesla led used EV sales last month, selling 15,903 vehicles, up 18% year-over-year. GM’s Chevy (3,499 units, +28.6%), Ford (1,967 units, +25.7%), Mercedes-Benz (1,724 units, -12.3%), and Nissan (1,659 units, +19.9%) rounded out the top five.
Although its market share slipped to 43.4% from 45.2%, Tesla remained the leader by a wide margin. Other luxury brands, including BMW and Audi, reported higher used EV sales in July, with increases of 43.87% and 38%, respectively.
2025 Honda Prologue at a Tesla Supercharger (Source: Honda)
According to the report, used EV listing prices reached $35,263 last month, a 1.9% decrease from June. With a price gap of just $1,266, a record low, used electric vehicle prices are closing in on ICE vehicles.
New EV sales also picked up in July. With over 130,000 EVs sold, up 26% from June, the electric vehicle market share reached 9.1%, the second-highest to date.
Ahead of the $7,500 federal tax credit deadline, set to expire at the end of September, 11 brands posted their best EV sales of the year. The top five included Tesla, Chevy, Hyundai, Ford, and Honda. Volkswagen surged to sixth after electric vehicle sales surged 454% last month.
The Honda Prologue starts at $47,400, but with the credit, you can snag one for under $40,000 right now. Honda is also offering monthly leases as low as $159 in California and other ZEV states. In other regions, it’s still listed for as low as $229 per month.
2025 Honda Prologue trim
Starting Price*
Starting Price After Tax Credit*
EPA Range (miles)
EX (FWD)
$47,400
$39,900
308
EX (AWD)
$50,400
$42,900
294
Touring (FWD)
$51.700
$44,200
308
Touring (AWD)
$54,700
$47,200
294
Elite (AWD)
$57,900
$50,400
283
2025 Honda Prologue prices and range by trim (*Does not include $1,450 D&H fee)
Even Honda’s luxury brand, Acura, is selling more electric vehicles than expected. Through the first half of the year, the Acura ZDX outsold the Cadillac Lyriq, and it’s based on the same GM Ultium platform.
Sales are expected to continue picking up ahead of the deadline. As Cox Automotive highlighted, “July’s performance sets a strong precedent, and as policy support winds down, the market’s ability to respond to real-time demand and brand-level dynamics will be critical in shaping the next phase of growth.”
Ready to take advantage of the savings while they are still here? We’re here to help. You can use our link to find deals on the Honda Prologue in your area (trusted affiliate link).
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The waste management experts at Republic Services are committed to cleaning up the Chicagoland area — and now, that includes the air Chicagoans breathe, thanks to the deployment of new Mack LR Electric garbage trucks in the heart of America’s Second City.
Republic Services executives and partners from local utility ComEd gathered yesterday, 14AUG, to celebrate the deployment of Chicago’s first electric refuse fleet, featuring two new Mack LR Electric garbage trucks paid for, in part, by ComEd’s commercial EV rebate program.
“The Mack LR Electric is purpose-built for refuse applications, delivering zero local emissions while maintaining the durability and performance Mack trucks are known for,” reads the official Mack press release. “The electric powertrain provides quieter operation for early morning routes and helps fleet operators meet sustainability goals while supporting cleaner air quality in urban communities. With its low cab-forward design and tight turning radius, the LR Electric maintains the maneuverability essential for residential and commercial waste collection routes.”
The big Class 8 Mack Trucks are powered by a pair of electric motors putting 400 combined kW (about 536 hp) through a 2-speed Mack Powershift transmission that offers a whopping 4,051 lb-ft of peak torque output. That’s over 40% more power than the first generation Mack LR Electric released in 2019, and this iteration can charge the 376 kWh Samsung-sourced batteries fully in under two hours at 150 kW.
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Real money, real results
ComEd and Republic Svcs. executives pose with “big check,” via ComEd.
“ComEd is proud to support Republic Services in advancing zero emissions transportation for Chicago’s neighborhoods,” explains Melissa Washington, our senior vice president of customer operations and strategic initiatives. “As more customers take advantage of our EV rebate programs, we are helping empower customers to realize the air quality and energy savings benefits of EVs, and moving our communities closer to their goals for a more sustainable future.”
The new HD electric vehicles will be powered up nightly by equally new 150 kW DC fast charging stations from BP pulse, which are installed at Republic’s vehicle yard in the Little Village neighborhood. Part of the ComEd rebate money awarded to the company helped fund the make-ready infrastructure portion (effectively from the transformer to the stub) of that project, as well as at least one Ford F-150 Lightning pickup.
Look, you know me. There is absolutely ZERO chance that I’ll be able to remain objective about anything that’s putting down more than four thousand lb-ft of torque. Make that thing quieter, cleaner, and generally better for me and my community, and there’s even less of a chance of me saying anything critical about it.
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