RWE will proceed with the construction of two, 1,530 MW coal-fired plants
in Germany, believing that the units will make money even if carbon dioxide
costs of up to Eur30.00/MWh are included, company CEO Harry Roels said in a
conference call late Wednesday.

Roels said the company expects to commission the two hard coal plants in
Hamm in North-Rhine Westphalia and Endsdorf in Saarland in 2013.

"We assume that future gas, coal and C02 price rises will ensure a
baseload position for new hard coal in the German merit order," he said,
adding "the clean dark spread will accommodate new hard coal plants."

Roels said he believes it will be profitable for RWE to build
coal plants "even under a scenario of 100% carbon auctioning and a CO2 price
of up to Eur30.00/MWh."