But will that be enough to put the heavily indebted company on a growth path again?

Chief executive Peter Terium calls the changes "milestones" on the path to make RWE fit for the "new energy world."

Yet Terium may miss the crucial point of what this new energy world means.

He has repeatedly blamed the Energiewende (Germany's transition from nuclear to renewable energy) for the company's recent misfortunes after RWE had ignored the need for a rapid build-up of renewables for about a decade.

The