E.ON profit falls as demand dips
Net income at the German group, which has major UK operations, was €919 million (£790m), down from €1.18 billion a year ago.
Despite the fall, chief executive Johannes Teyssen reaffirmed the company’s earnings forecast for the year, but also said the regulatory and business environment for the legacy power generation business was tough and “no recovery is in sight”.
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Hide AdLast month E.ON said it was mothballing a two-and-a-half-year-old gas-fired plant in Slovenia because it was unprofitable and Teyssen noted that, unless things change, more shutdowns are “unavoidable”.