Overview
- The two utilities said the Iran war’s strain on the Strait of Hormuz is keeping wholesale oil, gas, and power prices high and could push up German household bills.
- RWE finance chief Michael Müller said rebuilding trade routes and restarting refineries could take several months to a year even if fighting eases.
- Eon warned of higher risks in energy procurement and possible long-term shortages, while saying it has cushioned price swings for many of its roughly 14 million German customers.
- Despite the turmoil, both firms kept their 2026 guidance, with RWE targeting up to €5.8 billion in adjusted earnings and Eon up to €9.6 billion.
- About one fifth of global oil and gas trade moves through the Gulf, so bottlenecks at Hormuz ripple through world prices before showing up on retail energy bills.