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2016-03-10 18:45:00

E.ON LOSES €7 BLN

E.ON LOSES €7 BLN

European utility company E.ON made a net loss of €7bn during 2015, it announced March 9, with underlying net income of €1.6bn. This was similar to 2014 but it also took an €8.8bn impairment charge mainly related to its struggling generation assets.

E.ON CEO Johannes Teyssen said: "We posted solid operating results in a very difficult market environment.... But the course ahead will be tougher and longer than anticipated."

Power and gas prices have slumped in recent years as part of a general commodity market turndown. European power generators meanwhile have seen conventional thermal power plants facing growing…

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Tags: E.ON, EUROPE, GAS, PRICES

Chronicle:

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